For Sale
$3,600,000
1020 S Garfield, Loveland, CO 80537
Flex space
Property Size15,000 SF
Lot Size3.09 Acres
Price / SF$240
Days on Market342
Property Features for 1020 S Garfield
General Information
Standard status
Active
Size
15,000 SF
Lot size
3.09 Acres
Property subtype
Commercial
Amenities
Composition Roof
Radiant Heating
Building Details
Year Built
2008
Listing Agency:
Waypoint Real Estate
(970) 632-5050
Listed By:
NICHOLAS NORTON
Source:
Corcoran
Added: Sep 18, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:22AM
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 Waypoint Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- 3 acres of outside storage included
- 7,500‑15,000 sf demisable industrial/flex space
- Features (4) 12' x 12' overhead doors at grade‑level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$133,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,660,280
$2.7M
Cap Rate 7%
$1,900,200
$1.9M
Cap Rate 9%
$1,477,933
$1.5M
Market Conditions
NOI Build-Up for 15,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$207.9K $13.86/SF
− Vacancy
−$17.9K −$1.19/SF
EGI
$190.0K $12.67/SF
− OpEx
−$57.0K −$3.80/SF
NOI
$133.0K $8.87/SF
Area
Larimer County, CO
Vacancy
8.60%
Lease Rate
$13.86 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,660,280
Cap Rate 7%
$1,900,200
Cap Rate 9%
$1,477,933
Alternative Uses
Best Use
Industrial
$1.90M
$1.66M – $2.22M
NOI $133,014 @ 7.0% cap · market cap 3.69%
Second Best
Flex RnD
$1.76M
$1.54M – $2.06M
NOI $123,513 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$4.03M
$3.52M – $4.70M
NOI $281,837 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,789
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80537, CO
43,603
Population
20,314
Households
2.1
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
122.4 sq mi
ZIP Area
356
Density / Sq Mi
$83,746
Median Household Income
$44,448
Median Earnings
$1,630
Median Rent
$460,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Taste Catering — 526 Grant Ave, Loveland, CO 80537
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- Lulu's Taters — 1105 Grant Ave, Loveland, CO 80537
Frequently Asked Questions
Where is this flex space located?
The property is located at 1020 S Garfield Loveland, CO.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 3 acres of outside storage included; 7,500‑15,000 sf demisable industrial/flex space; Features (4) 12' x 12' overhead doors at grade‑level
