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    Downtown Steamboat Springs Corner Property Title is generated by Realmo AI

    942 Lincoln Avenue #942, Steamboat Springs, CO 80487

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    Claim this Listing
    For Sale
    $3,375,000

    Prime redevelopment or continue established gas and service station.

    Type:Commercial
    Property size:
    2,395 SF
    Price / SF:
    $1,409/SF
    Added:
    Mar 26, 2025
    Days on Market:
    436
    Last Refresh:
    Apr 5 at 8:22 pm

    Property Features for 942 Lincoln Avenue #942

    General Information

    Standard status
    Active
    Size
    2,395 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    LISA OLSON
    LISA OLSON

    Listing agent LISA OLSON License #01320160

    Listing office STEAMBOAT SOTHEBY'S INTERNATIONAL REALTY

    Listing date Mar 26, 2025

    Source Corcoran

    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 STEAMBOAT SOTHEBY'S INTERNATIONAL REALTY

    HighLights

    • Prime corner lot location at 10th and Lincoln Avenue in Downtown Steamboat Springs.
    • High traffic location with 27,000 average daily traffic count.
    • Redevelopment opportunity or continuation of existing turn‑key Conoco gas station and service center.
    • One of only two gas stations in downtown Steamboat Springs.
    • 2,395 sq ft service station with three service bays, retail area, office, and storage.
    • Proximity to restaurants, retail, shops, lodging, Yampa River, Howelsen Hill, and Steamboat Ski Area.

    Overview

    Located at the corner of 10th and Lincoln Avenue in Downtown Steamboat Springs, the property at 942 Lincoln Avenue is currently operated as Steamboat Downtown Conoco, a gas station and service center established in 1977. The property features four fuel pumps with a canopy, a 2395 square foot service station with three service bays, a small back office, a front retail area, a large storage area, and ample yard space. The location is one of only two downtown gas stations and one of 10 in all of Steamboat Springs. The property is surrounded by restaurants, retail shops, lodging, and entertainment, and is one block from the Yampa River, minutes from Howelsen Hill, and less than ten minutes from the Steamboat Ski Area. The Commercial Old Town district emphasizes active commercial uses such as retail, service, restaurants, and lodging, while also accommodating office and residential uses. The average daily traffic in front of the property is 27,000. This turn-key operation can continue to serve the community and prosper under new ownership, or the site can be redeveloped.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conoco Gas Station Napa Autocare Center Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Law Firm Auto Repair Shop Spa & Massage Center Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Steamboat Springs
    County
    Routt
    State
    Colorado
    Longitude
    -106.836
    Latitude
    40.4874

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    FAQs

    What type of property is this?
    Gas station - Prime redevelopment or continue established gas and service station.
    Where is this gas station located?
    The property is located at 942 Lincoln Avenue #942 Steamboat Springs, CO.
    What is the asking price?
    The asking price for this property is $3,375,000.
    What are key features of this property?
    This property features: Prime corner lot location at 10th and Lincoln Avenue in Downtown Steamboat Springs.; High traffic location with **27,000 average daily traffic count.**; Redevelopment opportunity or continuation of existing turn‑key Conoco gas station and service center.
    (970) 879-8100
    We can help!
    Listing Contact
    LISA OLSON
    LISA OLSON
    Real Estate License ID: 01320160
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    942 Lincoln Avenue #942, Steamboat Springs, CO 80487
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