Office
For Sale
Contact for pricing
123 S Cleveland, Loveland, CO 80537
Office property near Loveland restaurants, galleries, parks, and boutique retail.
Property Size3,312 SF
Price / SF$250
Days on Market339
Property Features for 123 S Cleveland
General Information
Standard status
Active
Size
3,312 SF
Property subtype
OFFICE
Listing Agency:
CBRE - Fort Collins
(970) 372-3007
Listed By:
Peter Kast · License #EA.000227001
(970) 222-8814
Source:
Moodyscre
Added: Oct 3, 2025
Changed: Sep 4
Last Checked: Sep 5 at 4:02AM
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 CBRE - Fort Collins
Investment Insights
Based on property information with market context.
This 3,312-square-foot office building is located at 123 S Cleveland in Loveland, Colorado. The surrounding setting includes restaurants, a movie theater, a public plaza, galleries, museums, coffee shops, breweries, and boutique retail.
Cultural and recreational destinations in the area include Benson Sculpture Garden and Boyd Lake State Park, which offers boating, hiking, and other outdoor activities. The property is also positioned within Loveland’s arts and culinary scene, with multiple community-oriented attractions nearby.
Cultural and recreational destinations in the area include Benson Sculpture Garden and Boyd Lake State Park, which offers boating, hiking, and other outdoor activities. The property is also positioned within Loveland’s arts and culinary scene, with multiple community-oriented attractions nearby.
Key Highlights
- 3,312‑square‑foot office building
- Located at 123 S Cleveland, Loveland, CO 80537
- Nearby restaurants, movie theater, and public plaza at The Foundry
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
$46,950
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
5.67%
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%
$939,000
$939.0K
Cap Rate 7%
$670,714
$670.7K
Cap Rate 9%
$521,667
$521.7K
Market Conditions
NOI Build-Up for 3,312 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
$67.2K $20.28/SF
− Vacancy
−$4.6K −$1.38/SF
EGI
$62.6K $18.90/SF
− OpEx
−$15.6K −$4.73/SF
NOI
$46.9K $14.18/SF
Area
Larimer County, CO
Vacancy
6.80%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
25.00%
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%
$939,000
Cap Rate 7%
$670,714
Cap Rate 9%
$521,667
Alternative Uses
Best Use
Office B
$670.7K
$586.9K – $782.5K
NOI $46,950 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.0K
$777.9K – $1.04M
NOI $62,230 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,615
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property near Loveland restaurants, galleries, parks, and boutique retail.
Where is this office building located?
The property is located at 123 S Cleveland Loveland, CO.
What is the asking price?
The asking price for this property is $828,000.
What are key features of this property?
This property features: 3,312‑square‑foot office building; Located at 123 S Cleveland, Loveland, CO 80537; Nearby restaurants, movie theater, and public plaza at The Foundry
