From speaking to others in town I do see an interest in / need  for 10,,000 - 12,000  sq ft units for industrial / warehouse sites for sale and for lease . almost like Industrial Mini Storeage space .The Bldg has 6 shipping / receiving Dock Doors along with a 14 ft wide drive up ramp that door is also 14 ft tall so you could literally drive a tractor trailer inside if need be My thinking !

I purchased a home for $890,000 and the assessed value for the purposes of property taxes was $580,000 for example.Many buy and hold real estate investors in the commercial space with big portfolios even hire attorneys on commission / retainer to get the assessed value of their building lowered as much as possible to save on property taxes. 

Possibly somewhat more controversially (as there are people who say never remove a mature tree) I'm not sure that what that spruce tree is adding to the appearance of the house justifies the space it is taking up.  

I have been in that space for 3 years.

and patch on the ceiling (HVAC Re-route)- Master Bathroom( plumbing - shower stall not properly installed and leak going down to crawl space, cabinet not secured to the wall, GFCI not grounded, faucet aerator leaking)- Kitchen (damaged vinyl, exhaust not working, very dated kitchen but I think I can salvaged the cabinets and just replace the tile countertops)- Ceiling fans are not operable and missing HVAC registers.- Garage (moisture stains, wall damaged, laundry hose bib leaking), partially converted to a room.

Would you say that holds true in this space, or is there a way to keep the discussion on the level of cap rate discounts and/or rehab costs with a multiplier (1.5x or 2x?)

I finance my flips with a hard money lender that specializes in the rehab fix and flip space exclusively.  

For me personally it is 3 minutes to Red Rocks Open Space, 5 minutes to Garden of the Gods, walking distance to Bear Creek Park, and 15 minutes to all the other major trails.

So if I converted my garage to a living space, I would have to build another designated garage/carport.

I wouldn't market it as a 1 bed, since you have 2 fully functioning bedroomss, but price it as a one bed to make up for the small living spaces and you should be able to fill it.