Flex Space Garage with
For Sale
$495,000
Pending
770 Lindbergh Drive, Gypsum, CO 81637
Commercial Sale, Gypsum, CO
Property Size1,293 SF
Lot Size0.09 Acres
Days on Market47
Property Features for 770 Lindbergh Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
13 - COMM
Parking features
Assigned
Subdivision
Eagle River Comm Center
Standard status
Pending
APN
2111-014-08-001
Size
1,293 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Desc: Phase V Subdivision: Eagle River Commercial Center Unit: 601 R200634155 Map 12-14-06 R200634156 Dec 12-14-06
Tax Annual Amount
3828
HOA Fee
$392 Annually
Legal Description
Desc: Phase V Subdivision: Eagle River Commercial Center Unit: 601 R200634155 Map 12-14-06 R200634156 Dec 12-14-06
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Building materials
Steel Siding
Listing Agency:
Slifer Smith & Frampton- Lionshead
(970) 479-0245
Listed By:
Molly Griffin · License #FA40030227
(970) 331-9676
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 25 at 9:06PM
MLS# 1014687
Copyright © 2026 Vail Board of REALTORS. 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 flex space garage features high ceilings, air-conditioning, 220V power, and heating with forced air and natural gas. The space includes a private bathroom and lofted space, with steel siding construction and a 2006 build year. Parking is provided via two assigned spaces at the garage door and two at the front door and windows. The layout offers flexibility to customize the interior, including the option to create office space with the garage behind by adding a wall below the loft.
The property sits on a 0.09-acre lot at 770 Lindbergh Drive in Gypsum, Colorado (Eagle County). Water is available, supporting a range of office, storage, or light-flex uses that can benefit from on-site services and versatile interior configuration.
With its combination of warehouse-style height, climate control, power, and a built-in bathroom plus loft area, the space is suited for tenants looking for a compact, functional garage/workspace environment.
The property sits on a 0.09-acre lot at 770 Lindbergh Drive in Gypsum, Colorado (Eagle County). Water is available, supporting a range of office, storage, or light-flex uses that can benefit from on-site services and versatile interior configuration.
With its combination of warehouse-style height, climate control, power, and a built-in bathroom plus loft area, the space is suited for tenants looking for a compact, functional garage/workspace environment.
Key Highlights
- High‑ceiling flex space garage with lofted space
- Air‑conditioning plus forced air heating with natural gas
- 220V power and private bathroom in the unit
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
$13,993
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
2.83%
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%
$279,860
$279.9K
Cap Rate 7%
$199,900
$199.9K
Cap Rate 9%
$155,478
$155.5K
Market Conditions
NOI Build-Up for 1,293 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
$23.3K $18.00/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$21.5K $16.65/SF
− OpEx
−$7.5K −$5.83/SF
NOI
$14.0K $10.82/SF
Area
Eagle County, CO
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$279,860
Cap Rate 7%
$199,900
Cap Rate 9%
$155,478
Alternative Uses
Best Use
Flex RnD
$199.9K
$174.9K – $233.2K
NOI $13,993 @ 7.0% cap · market cap 2.83%
Second Best
Industrial
$114.2K
$100.0K – $133.3K
NOI $7,997 @ 7.0% cap · market cap 1.62%
Theoretical Best
Office A
$354.7K
$310.3K – $413.8K
NOI $24,826 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
68
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space garage with high ceilings, air conditioning, 220V power, and a loft, plus assigned parking for four cars.
Where is this flex space located?
The property is located at 770 Lindbergh Drive Gypsum, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High‑ceiling flex space garage with lofted space; Air‑conditioning plus forced air heating with natural gas; 220V power and private bathroom in the unit
