Downtown Mixed-Use
New
For Sale
$1,350,000
818 Grand Avenue, Glenwood Springs, CO 81601
M2 zoning permits office, retail, hospitality, and mixed-use residential uses.
Property Size3,405 SF
Price / SF$396.48
Days on Market5
Property Features for 818 Grand Avenue
General Information
Standard status
Active
Size
3,405 SF
Property subtype
Commercial
Zoning
M2
Site & Location
Traffic Count
28,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Office Units
5
Property Use
Office
Taxes and HOA fees
Annual Taxes
$20,957
Building Details
Building Size
3,405 SF
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
The Best Way Home Real Estate
(970) 456-1860
Listed By:
Julian Hardaker · License #ER40034339
(970) 309-5169
Source:
Frontierhomeandranch
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 6:05PM
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
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Investment Insights
Based on property information with market context.
Built in 1925, this 3,405-square-foot downtown property is arranged as five units: three at street level and two in the basement. The building has private parking behind it and frontage on Grand Avenue, also designated Highway 82. The site is zoned M2, which permits office, retail, hospitality, and mixed-use residential uses.
The property is in Glenwood Springs’ downtown core, within an Opportunity Zone. Grand Avenue frontage is associated with 28,000 cars/customers per day, and the location is within one hour of seven ski resorts. M2 zoning allows construction to the lot lines and a height of 40 feet without a variance; reaching 60 feet requires permission. The source also identifies potential for two to three additional stories of live/work space.
The property is in Glenwood Springs’ downtown core, within an Opportunity Zone. Grand Avenue frontage is associated with 28,000 cars/customers per day, and the location is within one hour of seven ski resorts. M2 zoning allows construction to the lot lines and a height of 40 feet without a variance; reaching 60 feet requires permission. The source also identifies potential for two to three additional stories of live/work space.
Key Highlights
- 3,405 square feet, built in 1925
- Five units: three at street level and two in the basement
- Grand Avenue (Highway 82) frontage; 28,000 cars/customers per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,187
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,740
$823.7K
Cap Rate 7%
$588,386
$588.4K
Cap Rate 9%
$457,633
$457.6K
Market Conditions
NOI Build-Up for 3,405 SF
Gross rent
$61.3K $18.00/SF
− Vacancy
−$2.5K −$0.72/SF
EGI
$58.8K $17.28/SF
− OpEx
−$17.7K −$5.18/SF
NOI
$41.2K $12.10/SF
Area
Garfield County, CO
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,740
Cap Rate 7%
$588,386
Cap Rate 9%
$457,633
Alternative Uses
Best Use
Retail
$588.4K
$514.8K – $686.5K
NOI $41,187 @ 7.0% cap · market cap 3.05%
Second Best
Mixed Use
$502.9K
$440.0K – $586.7K
NOI $35,203 @ 7.0% cap · market cap 2.61%
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
5
Office units
28,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 47%
Hotels & Casinos 6%
Maverik Adventures First Stop
Shops & Services
31,088 visits/mo
0.4 miles
Village Inn
Dining
13,141 visits/mo
0.4 miles
Qdoba Mexican Grill
Dining
8,278 visits/mo
0.4 miles
Jimmy John's
Dining
7,721 visits/mo
0.4 miles
La Quinta Inn & Suites
Hotels & Casinos
4,161 visits/mo
0.4 miles
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - M2 zoning permits office, retail, hospitality, and mixed-use residential uses.
Where is this mixed-use property 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 square feet, built in 1925; Five units: three at street level and two in the basement; Grand Avenue (Highway 82) frontage; 28,000 cars/customers per day
