Multi-Tenant Mixed-Use
For Sale
Contact for pricing
700 West US Highway 24, Woodland Park, CO 64050
Unfinished basement, packaged HVAC, and oversized drive-ins support varied commercial configurations.
Property Size10,524 SF
Lot Size1.14 Acres
Price / SF$332.57
Days on Market9
Property Features for 700 West US Highway 24
General Information
Standard status
Active
Size
10,524 SF
Class
B
Lot size
1.14 Acres
Property subtype
Retail, Office, Special Purpose
Investment Type
Value Add
Financials
Asking Price
$3,500,000
Cap Rate
6.2%
Additional Details
Highway Access
Yes
Amenities
unfinished basement with 2 vaults
100% packaged HVAC
5 oversized drive-ins
Building Details
Buildings
1
Tenancy
Multi
Building Size
10,524 SF
Parking Ratio
6 per 1,000 SF
Listing Agency:
Core Commercial Brokerage (CO)
Listed By:
Parker Curry · License #EA100076936
Source:
Crexi
Added: Aug 5
Changed: Aug 13
Last Checked: Aug 13 at 7:09AM
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 Core Commercial Brokerage (CO)
Investment Insights
Based on property information with market context.
Located at 700 West US Highway 24 in downtown Woodland Park, this 10,524-square-foot mixed-use building occupies 1.14 acres and is configured for multiple commercial occupants. The property includes an unfinished basement with 2 vaults, 100% packaged HVAC throughout, and 5 oversized drive-ins.
The building’s stated potential uses include medical and dental office, banking, chiropractic, general office, retail/showroom, and professional services. Parking is provided at a ratio of 6 spaces per 1,000 RSF, adding practical support for a range of office, service, and retail configurations.
The building’s stated potential uses include medical and dental office, banking, chiropractic, general office, retail/showroom, and professional services. Parking is provided at a ratio of 6 spaces per 1,000 RSF, adding practical support for a range of office, service, and retail configurations.
Key Highlights
- 10,524‑square‑foot multi‑tenant mixed‑use building on 1.14 acres
- Located at 700 West US Highway 24 in downtown Woodland Park, CO
- Unfinished basement includes 2 vaults
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
$156,850
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
4.48%
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%
$3,137,000
$3.1M
Cap Rate 7%
$2,240,714
$2.2M
Cap Rate 9%
$1,742,778
$1.7M
Market Conditions
NOI Build-Up for 10,524 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
$284.1K $27.00/SF
− Vacancy
−$22.7K −$2.16/SF
EGI
$261.4K $24.84/SF
− OpEx
−$104.6K −$9.94/SF
NOI
$156.8K $14.90/SF
Area
Teller County, CO
Vacancy
8.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,137,000
Cap Rate 7%
$2,240,714
Cap Rate 9%
$1,742,778
Alternative Uses
Best Use
Healthcare Medical
$2.24M
$1.96M – $2.61M
NOI $156,850 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$2.13M
$1.86M – $2.48M
NOI $148,960 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,288 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Unfinished basement, packaged HVAC, and oversized drive-ins support varied commercial configurations.
Where is this mixed-use property located?
The property is located at 700 West US Highway 24 Woodland Park, CO.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 10,524‑square‑foot multi‑tenant mixed‑use building on 1.14 acres; Located at 700 West US Highway 24 in downtown Woodland Park, CO; Unfinished basement includes 2 vaults
