Fire-Sprinklered Mixed-Use
For Sale
Contact for pricing
700 Red Table Drive, Gypsum, CO 81637
Mixed-use building with 16 individually metered residential and commercial units, including in-unit laundry and dedicated work space.
Property Size17,183 SF
Price / SF$365.19
Days on Market96
Property Features for 700 Red Table Drive
General Information
Standard status
Active
Size
17,183 SF
Property subtype
Retail, Multifamily
Zoning
Market District
Occupancy
100%
Additional Details
Business Included
Yes
Sprinkler System
Yes
Multifamily Units
13
Building Details
Year Built
2024
Buildings
1
Stories
1
Units
16
Tenancy
Multi
Listing Agency:
Goodman Commercial Real Estate
Listed By:
Drew Goodman · License #CO FA100053648
(720) 457-6324
Source:
Crexi
Added: Jun 2
Changed: Sep 3
Last Checked: Aug 31 at 10:30PM
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 Goodman Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 700 Red Table Drive in Gypsum, Colorado, this mixed-use property includes three commercial units and a total of 13 residential apartments: six one-bedroom, one-bath units and seven two-bedroom, two-bath units, for 16 units overall. The building is fully fire sprinklered and fire alarmed throughout.
Utilities are set up to support cleaner operations: every residential unit is individually metered for gas service, and the three commercial units are also individually metered for electric. Residential electric is billed back to tenants monthly through RUBS (Ratio Utility Billing System).
Inside the apartments, units are designed for day-to-day convenience with a dedicated office space, in-unit washer and dryer, and generous storage. For commercial tenants, the property provides three separately metered commercial spaces that can suit a range of small business or service-oriented uses, subject to applicable rules and approvals. With a diversified mix of residential and commercial tenants and built-in utility metering and safety systems, the asset offers a practical, ready-to-manage configuration for owners seeking a straightforward operational structure.
Utilities are set up to support cleaner operations: every residential unit is individually metered for gas service, and the three commercial units are also individually metered for electric. Residential electric is billed back to tenants monthly through RUBS (Ratio Utility Billing System).
Inside the apartments, units are designed for day-to-day convenience with a dedicated office space, in-unit washer and dryer, and generous storage. For commercial tenants, the property provides three separately metered commercial spaces that can suit a range of small business or service-oriented uses, subject to applicable rules and approvals. With a diversified mix of residential and commercial tenants and built-in utility metering and safety systems, the asset offers a practical, ready-to-manage configuration for owners seeking a straightforward operational structure.
Key Highlights
- Mixed‑use building at 700 Red Table Drive in Gypsum with 16 total units: 3 commercial and 13 residential apartments
- Residential unit mix includes six 1BR/1BA apartments and seven 2BR/2BA apartments for a total of 13 apartments
- Fully fire sprinklered and fire alarmed throughout the building for owner and tenant safety
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
$215,758
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
3.44%
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%
$4,315,160
$4.3M
Cap Rate 7%
$3,082,257
$3.1M
Cap Rate 9%
$2,397,311
$2.4M
Market Conditions
NOI Build-Up for 17,183 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
$515.5K $30.00/SF
− Vacancy
−$123.2K −$7.17/SF
EGI
$392.3K $22.83/SF
− OpEx
−$176.5K −$10.27/SF
NOI
$215.8K $12.56/SF
Area
Eagle County, CO
Vacancy
23.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$4,315,160
Cap Rate 7%
$3,082,257
Cap Rate 9%
$2,397,311
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.70M – $3.60M
NOI $215,758 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$3.05M
$2.67M – $3.56M
NOI $213,413 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$4.71M
$4.12M – $5.50M
NOI $329,914 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 81637, CO
9,845
Population
3,291
Households
3
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
787.3 sq mi
ZIP Area
13
Density / Sq Mi
$108,556
Median Household Income
$47,262
Median Earnings
$2,162
Median Rent
$549,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with 16 individually metered residential and commercial units, including in-unit laundry and dedicated work space.
Where is this mixed-use property located?
The property is located at 700 Red Table Drive Gypsum, CO.
What is the asking price?
The asking price for this property is $6,275,000.
What are key features of this property?
This property features: Mixed‑use building at 700 Red Table Drive in Gypsum with 16 total units: 3 commercial and 13 residential apartments; Residential unit mix includes six 1BR/1BA apartments and seven 2BR/2BA apartments for a total of 13 apartments; Fully fire sprinklered and fire alarmed throughout the building for owner and tenant safety
