Loveland Warehouse/Office Condo For
For Sale
$400,000
217 12th St SW, Loveland, CO 80537
Creative warehouse/office condo in Loveland, CO, for sale or lease.
Property Size19,651 SF
Price / SF$174.98
Days on Market122
Property Features for 217 12th St SW
General Information
Standard status
Active
Size
19,651 SF
Property subtype
Industrial
Building Details
Building Size
19,651 SF
Year Built
1979
Listing Agency:
Waypoint Real Estate
(970) 213-5063
Listed By:
Jackson Chunko
(970) 213-5063
Source:
Elliman
Added: Apr 24
Changed: Aug 14
Last Checked: Aug 23 at 10:21AM
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.
Available for sale or lease is a 2,286 square foot creative warehouse/office condo in Loveland, Colorado. The property features a two-story layout with warehouse space on the first floor and office areas on both levels. The first floor includes an open work area, a warehouse, a kitchenette, two bathrooms, and storage, with a main entrance and rear exit. The second floor features multiple private offices, an open work area open to below, utility storage, and a shower, making it well-suited for a variety of office configurations. Building signage is available on the door, and there is on-site parking along 12th Street. Approximately 70% of the property is office build-out within a creative warehouse/condo setting. The property is zoned Developing Industrial (I) in Loveland. The location has a walk score of 2, indicating it is car-dependent, and a bike score of 34, indicating it is somewhat bikeable. The intended use of the property is for creative warehouse and office purposes.
Key Highlights
- Flexible Use: Suitable for sale or lease, accommodating warehouse and office needs.
- Creative Space: 2,286 SF condo in a creative warehouse/office setting.
- Two‑Story Layout: Features warehouse space on the first floor and office areas on both levels.
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
$20,271
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
5.07%
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%
$405,420
$405.4K
Cap Rate 7%
$289,586
$289.6K
Cap Rate 9%
$225,233
$225.2K
Market Conditions
NOI Build-Up for 2,286 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
$31.7K $13.86/SF
− Vacancy
−$2.7K −$1.19/SF
EGI
$29.0K $12.67/SF
− OpEx
−$8.7K −$3.80/SF
NOI
$20.3K $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%
$405,420
Cap Rate 7%
$289,586
Cap Rate 9%
$225,233
Alternative Uses
Best Use
Industrial
$289.6K
$253.4K – $337.9K
NOI $20,271 @ 7.0% cap · market cap 5.07%
Second Best
Flex RnD
$268.9K
$235.3K – $313.7K
NOI $18,823 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$613.6K
$536.9K – $715.9K
NOI $42,952 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
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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Frequently Asked Questions
What type of property is this?
Flex space - Creative warehouse/office condo in Loveland, CO, for sale or lease.
Where is this flex space located?
The property is located at 217 12th St SW Loveland, CO.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Flexible Use: Suitable for sale or lease, accommodating warehouse and office needs.; Creative Space: 2,286 SF condo in a creative warehouse/office setting.; Two‑Story Layout: Features warehouse space on the first floor and office areas on both levels.
