While some take turns going down the ski slopes in Aspen, others see the rise in commercial property in Colorado as a fantastic real estate business opportunity. It is easy to see why when Colorado ranks 3rd in low property taxes and 8th in high rental income and high Airbnb rental unit income.
From a thriving city like Denver to snow-capped mountains in the Rockies, Colorado has a thriving economy that opens up an incredible opportunity to purchase commercial real estate.
How Expensive is Commercial Property in Colorado?
Commercial property in Colorado provides an exceptional opportunity for investment that comes at a price of approximately $337 per square foot. For those interested in purchasing office space, you may be looking at paying $2,161,892. Industrial properties cost $2,354,133 and retail properties are $2,525,59. The median cap rate for commercial property in Colorado is 6%.
What is the Tax Rate for Commercial Property in Colorado?
If you are considering purchasing a Colorado commercial shop building that is for sale, you need to contemplate the tax rate for a commercial property in Colorado. The market value for commercial space, which includes industrial space, is 27.9%. Of course, those who own a historic building can enjoy a slightly lower tax rate of 25 %. This does not include those buildings located in rural areas or disaster zones.
Do You Need a Special License for Commercial Property Management in Colorado?
If you wish to manage Colorado commercial properties, you need a real estate license, which you can hold as a broker or an employing broker working under the supervision of another broker.
The real estate broker licensee must meet certain stipulations set by the Colorado Division of Real Estate to obtain the license. These include being 18 years old or older, finishing 168 hours of pre-license study, completing an application and broker exam, paying a fee, and passing a background check.
Which Commercial Property is Most Profitable?
The most profitable commercial property assets can be subdivided into four categories.
- Industrial
- Offices
- Retail
- Special purpose
Investing in industrial property is highly favorable for property managers because maintenance costs for such facilities as warehouses and distribution centers are low, while industrial buildings also receive a steady income from long-term leases.
Retail is also a top preference due to its flexibility. Granted retail properties should be purchased with the consideration that many items can be purchased online these days and there are certain questions such as the footfall of location and onsite amenities to consider.
However, the retail spaces do not look like they did many years ago. Now, retail locations include mixed-use buildings where residential apartments or lofts are on upper levels and the retail stores are on the ground floor. Retail can also now include flex buildings.
Why Choose Nestfully For Commercial Real Estate in Colorado?
The team at Nestfully understands that purchasing a piece of real estate is a significant commitment. We aim to simplify the process, alleviating any pressure you may feel in your quest to find the perfect property. With our team of talented professionals, available resources, and a user-friendly platform, feel free to explore your options. Our extensive directory of real estate listings includes a wide variety of Colorado commercial properties.
You can also access the Nestfully site with our straightforward app for both Apple and Android smartphones! Whether pursuing a business space for investment or your dream home in Colorado, Nestfully is dedicated to assisting you in your search for the perfect property. Team up with our staff to achieve your real estate goals.
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