Downtown Office/Retail
818 Grand Avenue Glenwood Springs, CO 81601
818 Grand Avenue, Glenwood Springs, CO, 81601
$1,350,000
For Sale
$1,350,000
Multi-unit downtown building with Grand Ave frontage and private parking behind the structure.
Property Size3,405 SF
Price / SF$396.48
Days on Market127
Property Features for 818 Grand Avenue
General Information
- Standard status
- Active
- Size
- 3,405 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1925
Listing agency
(970) 309-5169
Listed by
The Best Way Home Real Estate
(970) 309-5169
Source
Xome
Added: Mar 18 Updated: Jul 21 at 6:59PM Checked: Jul 22 at 3:47AM
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 The Best Way Home Real Estate
Investment Insights
Based on property information with market context.
This downtown commercial building totals 3,405 square feet and is currently laid out as five separate units, with three units on the street level and two units in the basement. The space is described as flexible, with a configuration that can support multiple operating needs.
The building has street frontage on Grand Ave (Highway 82), and the property includes private parking behind the building on-site. The property is noted as being in an Opportunity Zone.
Zoning is listed as M2, allowing for office, retail, hospitality, and mixed use residential. The remarks also indicate there is room to expand, with zoning allowing building lot line to lot line and a 40-foot height without a variance (60 feet with permission).
The building has street frontage on Grand Ave (Highway 82), and the property includes private parking behind the building on-site. The property is noted as being in an Opportunity Zone.
Zoning is listed as M2, allowing for office, retail, hospitality, and mixed use residential. The remarks also indicate there is room to expand, with zoning allowing building lot line to lot line and a 40-foot height without a variance (60 feet with permission).
Key Highlights
- 3,405 SF downtown building in the Glenwood Springs Opportunity Zone, built in 1925
- Grand Ave (Highway 82) street frontage with frontage facing an estimated 28,000 cars/customers per day
- Currently laid out as 5 separate units: 3 on the street level and 2 in the basement
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.8k | $21.96 |
| − Vacancy | −$10.5k | −$3.07 |
| EGI | $64.3k | $18.89 |
| − OpEx | −$16.1k | −$4.72 |
| NOI | $48.2k | $14.16 |
3,405 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$689.0K
$602.9K – $803.8K
NOI $48,229 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$588.4K
$514.8K – $686.5K
NOI $41,187 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$891.7K
$780.3K – $1.04M
NOI $62,421 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Multi-unit downtown building with Grand Ave frontage and private parking behind the structure.
Where is this office units located?
The property is located at 818 Grand Avenue Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,405 SF downtown building in the Glenwood Springs Opportunity Zone, built in 1925; Grand Ave (Highway 82) street frontage with frontage facing an estimated 28,000 cars/customers per day; Currently laid out as 5 separate units: 3 on the street level and 2 in the basement
