NOTES: 

As 2023 ends, the buyers’ demand for commercial real estate is still in high demand but prices are softening depending upon inventory, type of use, and price. The commercial real estate market in Steamboat traditionally follows residential market trends but at a slower pace and it has also slowed for all the same reasons. Second homeowners love to invest where they live and play.

Still, Realtors® are reporting a surge in calls from investors and potential business owners seeking opportunities for Steamboat commercial units. Warehouse and Live work units are as always in high demand. When and if they come on the market, they are in the PPSF of $300-400’ . There are new developments coming out of the Ground right now and we will see how the market accepts the new pricing and cost of construction.

As of January 15, 2024, per the Steamboat Springs MLS, there are 20 commercial properties for sale. (Average prices below) Several redevelopment properties, a motel, 1 warehouse unit, a couple restaurants and retail spaces but NO Live work units. PPSF are all over the board.

Developments and Community News

•  23 acres purchased in front of the Steamboat Springs Airport, Redevelopment to come in the next 1-2 years, Commercial industrial Park
• STR – 3000 Short Term Rental Application in City over whelmed
• New City building under construction on 10th street will house the new Fire station
• The annexation of 420 acres of land located west of old Downtown Steamboat Springs. The land was purchased by the Yampa Valley Housing Authority on the wings of a $23 million anonymous donation, with a goal of constructing 2,264 affordable housing units on the property by 2024.
• Plans to construct a 42-unit resort residential building at the base of the Steamboat ski area are moving forward after city planning officials approved a development plan for the project last week.