Prime Commercial Space in
695 Pierce St, Erie, CO 80516
For Sale
$899,000
Pending
Move-in ready office space with income potential in Old Town.
Property Size3,470 SF
Days on Market212
Property Features for 695 Pierce St
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Mavi Unlimited Inc
Listed By:
Michael Hoover · License CO #100036906
(720) 771-8061
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Sep 18 at 4:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mavi Unlimited Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 695 Pierce St in Old Town Erie, this commercial space offers nearly 4000 square feet of flexible office space. The property is situated downtown, steps from Briggs St, providing high visibility and convenient access to nearby restaurants and town events. Zoned for the downtown district, the property allows for continued office space use, as well as future retail and residential applications. The property includes dedicated parking areas with 11 spots, supplemented by neighborhood street parking. Currently, 3 out of the 4 units are rented out, offering rental income potential while providing a home base for business operations.
Key Highlights
- Prime downtown location on Pierce St, steps from Briggs St, offering high visibility and walkability to restaurants and events.
- Nearly 4000 sq ft of flexible office space, move‑in ready.
- Zoned for downtown district, allowing for office, retail, or residential use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,030
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,600
$1.0M
Cap Rate 7%
$729,000
$729.0K
Cap Rate 9%
$567,000
$567.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$72.0K $18.00/SF
− Vacancy
−$4.0K −$0.99/SF
EGI
$68.0K $17.01/SF
− OpEx
−$17.0K −$4.25/SF
NOI
$51.0K $12.76/SF
Area
Weld County, CO
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,600
Cap Rate 7%
$729,000
Cap Rate 9%
$567,000
Alternative Uses
Best Use
Office B
$729.0K
$637.9K – $850.5K
NOI $51,030 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 80516, CO
34,376
Population
13,163
Households
2.6
Avg Household Size
37
Median Age
64%
College-Educated
97%
High-School Grad
40.5 sq mi
ZIP Area
849
Density / Sq Mi
$160,590
Median Household Income
$75,277
Median Earnings
$2,718
Median Rent
$683,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Weld County, CO
Properties on Market for Office Units in Weld County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Move-in ready office space with income potential in Old Town.
Where is this office unit located?
The property is located at 695 Pierce St Erie, CO.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime downtown location on Pierce St, steps from Briggs St, offering high visibility and walkability to restaurants and events.; Nearly 4000 sq ft of flexible office space, move‑in ready.; Zoned for downtown district, allowing for office, retail, or residential use.
