Downtown Multi-Office
815 2nd St, Limon, CO 80828
For Sale
$350,000
Flexible commercial layout with private offices and potential for professional, retail, or service-oriented occupancy.
Property Size2,500 SF
Price / SF$140
Days on Market50
Property Features for 815 2nd St
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
RURAL AMERICAN REALTY
Listed By:
Donna Metcalf · License #100088547
(719) 760-0449
Source:
Elliman
Added: Sep 18
Changed: Nov 6
Last Checked: Nov 6 at 10:34AM
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 RURAL AMERICAN REALTY
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Investment Insights
Based on property information with market context.
Located at 815 2nd St in downtown Limon, this approximately 2,500-square-foot office building provides a flexible commercial setting with multiple individual offices and adaptable interior space. The existing configuration is suited to professional office use and may be reworked into separate units for multiple businesses or tenants, subject to applicable approvals and modifications.
The property also offers potential for other commercial applications identified for the building, including retail, service business, studio, or day care use. Climate-controlled storage is another possible direction for the space. Its downtown location and multi-office layout provide a practical foundation for an owner-user, a multi-tenant configuration, or a business requiring several enclosed work areas.
The property also offers potential for other commercial applications identified for the building, including retail, service business, studio, or day care use. Climate-controlled storage is another possible direction for the space. Its downtown location and multi-office layout provide a practical foundation for an owner-user, a multi-tenant configuration, or a business requiring several enclosed work areas.
Key Highlights
- Approximately 2,500 square feet of commercial building area
- Multiple private offices with flexible interior space
- Downtown location at 815 2nd St in Limon, Colorado
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,613
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,260
$432.3K
Cap Rate 7%
$308,757
$308.8K
Cap Rate 9%
$240,144
$240.1K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$35.1K $14.04/SF
− Vacancy
−$6.3K −$2.51/SF
EGI
$28.8K $11.53/SF
− OpEx
−$7.2K −$2.88/SF
NOI
$21.6K $8.65/SF
Area
Lincoln County, CO
Vacancy
17.90%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,260
Cap Rate 7%
$308,757
Cap Rate 9%
$240,144
Alternative Uses
Best Use
Office B
$308.8K
$270.2K – $360.2K
NOI $21,613 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$41.24M
$36.09M – $48.12M
NOI $2,886,941 @ 7.0% cap · market cap 824.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
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Business Placement
Demographics for 80828, CO
2,603
Population
1,117
Households
2.3
Avg Household Size
39
Median Age
35%
College-Educated
93%
High-School Grad
437.9 sq mi
ZIP Area
6
Density / Sq Mi
$65,893
Median Household Income
$40,476
Median Earnings
$1,167
Median Rent
$232,500
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Flexible commercial layout with private offices and potential for professional, retail, or service-oriented occupancy.
Where is this office building located?
The property is located at 815 2nd St Limon, CO.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 2,500 square feet of commercial building area; Multiple private offices with flexible interior space; Downtown location at 815 2nd St in Limon, Colorado
