Commercial Building with Office/Warehouse
For Sale
$575,000
1215 E Burlington Ave, Fort Morgan, CO 80701
Well-maintained commercial building with office and warehouse space for sale.
Property Size6,080 SF
Lot Size0.69 Acres
Price / SF$186.69
Days on Market167
Property Features for 1215 E Burlington Ave
General Information
Standard status
Active
Size
6,080 SF
Lot size
0.69 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,225
Building Details
Building Size
6,080 SF
Year Built
1975
Listing Agency:
(970) 867-6625
Listed By:
Michael Zwetzig
(970) 867-6625
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 23 at 6:18AM
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 Michael Zwetzig
Investment Insights
Based on property information with market context.
This well-maintained commercial building features a 3,000 sqft office area and a 3,080 sqft warehouse. The property offers ample parking for customers and employees. The location, combined with the large office and warehouse space, makes this property suitable for various business opportunities, presenting an exceptional investment opportunity. Please note that the property is subject to a deed restriction that does not allow a veterinary clinic or similar business to occupy the building.
Key Highlights
- Large 3,000 sqft office area and 3,080 sqft warehouse space.
- Ideal location suitable for various business opportunities.
- Exceptional investment opportunity.
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
$31,329
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
5.45%
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%
$626,580
$626.6K
Cap Rate 7%
$447,557
$447.6K
Cap Rate 9%
$348,100
$348.1K
Market Conditions
NOI Build-Up for 3,080 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
$39.5K $12.84/SF
− Vacancy
−$2.7K −$0.87/SF
EGI
$36.9K $11.97/SF
− OpEx
−$5.5K −$1.80/SF
NOI
$31.3K $10.17/SF
Area
Morgan County, CO
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
15.00%
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%
$626,580
Cap Rate 7%
$447,557
Cap Rate 9%
$348,100
Alternative Uses
Best Use
Office B
$447.9K
$391.9K – $522.5K
NOI $31,351 @ 7.0% cap · market cap 5.45%
Second Best
Warehouse
$447.6K
$391.6K – $522.2K
NOI $31,329 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$901.8K
$789.1K – $1.05M
NOI $63,128 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80701, CO
16,101
Population
6,575
Households
2.4
Avg Household Size
35
Median Age
19%
College-Educated
84%
High-School Grad
616.5 sq mi
ZIP Area
26
Density / Sq Mi
$72,500
Median Household Income
$41,071
Median Earnings
$1,096
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained commercial building with office and warehouse space for sale.
Where is this flex space located?
The property is located at 1215 E Burlington Ave Fort Morgan, CO.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Large 3,000 sqft office area and 3,080 sqft warehouse space.; Ideal location suitable for various business opportunities.; Exceptional investment opportunity.
