Remodeled Bar & Pub
For Sale
$525,000
60 El Jebel Road, Carbondale, CO 81623
COMMERCIAL - Carbondale, CO
Property Size1,346 SF
Price / SF$390.04
Days on Market181
Property Features for 60 El Jebel Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Subdivision
El Jebel
Directions
heading down valley from aspen or basalt, turn right at El Jebel, first right into parking lot, Hominy is on your left.
Standard status
Active
APN
239134411003
Size
1,346 SF
Taxes and HOA fees
Tax Description
Subdivision: CRAWFORD PROPERTIES, LLC TYPE A MINOR SUB PARCEL A, PART OF
Legal Description
Subdivision: CRAWFORD PROPERTIES, LLC TYPE A MINOR SUB PARCEL A, PART OF
Building Details
Year built
1972
Floors in Building
1
Building materials
Frame
Listing Agency:
Setterfield & Bright
(970) 920-1833
Listed By:
Angi Wang, CNE
(970) 274-6117
Added: Feb 23
Changed: Aug 4
Last Checked: Aug 23 at 4:06PM
MLS# 191962
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This bar and pub space comprises approximately 1,346 square feet within a frame building constructed in 1972. The premises were comprehensively remodeled at the end of 2022 and are offered as a fully built commercial operation for a new occupant.
The opportunity is structured as a lease acquisition rather than a real estate purchase. Approximately two years remain on the current lease, with a five-year option available for extension. The property carries commercial zoning and is located at 60 El Jebel Road in Carbondale, Colorado.
The opportunity is structured as a lease acquisition rather than a real estate purchase. Approximately two years remain on the current lease, with a five-year option available for extension. The property carries commercial zoning and is located at 60 El Jebel Road in Carbondale, Colorado.
Key Highlights
- Approximately 1,346 SF of bar and pub space
- Remodeled at the end of 2022
- Frame construction; building constructed in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,381
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,620
$387.6K
Cap Rate 7%
$276,871
$276.9K
Cap Rate 9%
$215,344
$215.3K
Market Conditions
NOI Build-Up for 1,346 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.0K $20.04/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$25.8K $19.20/SF
− OpEx
−$6.5K −$4.80/SF
NOI
$19.4K $14.40/SF
Area
Garfield County, CO
Vacancy
4.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,620
Cap Rate 7%
$276,871
Cap Rate 9%
$215,344
Alternative Uses
Best Use
Specialty Retail
$276.9K
$242.3K – $323.0K
NOI $19,381 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$352.5K
$308.4K – $411.3K
NOI $24,675 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
59k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Shops & Services 25%
Dining 23%
Leisure 11%
City Market
Groceries
24,214 visits/mo
0.3 miles
Wendy's
Dining
13,829 visits/mo
0.0 miles
Conoco
Shops & Services
6,814 visits/mo
0.5 miles
Bow Tie Cinemas Movieland 7
Leisure
6,420 visits/mo
0.2 miles
Shell
Shops & Services
6,346 visits/mo
0.1 miles
Demographics for 81623, CO
16,110
Population
7,280
Households
2.2
Avg Household Size
40
Median Age
50%
College-Educated
88%
High-School Grad
433.8 sq mi
ZIP Area
37
Density / Sq Mi
$98,549
Median Household Income
$46,026
Median Earnings
$2,094
Median Rent
$835,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Zane's Tavern Willits — 190 Robinson St, Basalt, CO 81621
- Starbucks — 250 E Valley Rd, El Jebel, CO 81623
- Casa Tequila — 64 El Jebel Rd, El Jebel, CO 81623
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully built commercial space with approximately two years remaining on the lease and a five-year extension option.
Where is this bar & pub located?
The property is located at 60 El Jebel Road Carbondale, CO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 1,346 SF of bar and pub space; Remodeled at the end of 2022; Frame construction; building constructed in 1972
