Leased Flex Space
For Sale
Contact for pricing
1301 IOWA AVE LONGMONT CO 80501, Longmont, CO 80501
Office, research, manufacturing, and outdoor storage functions are combined within one commercial property.
Property Size64,000 SF
Price / SF$199.41
Days on Market42
Property Features for 1301 IOWA AVE LONGMONT CO 80501
General Information
Standard status
Active
Size
64,000 SF
Class
B
Property subtype
Industrial
Zoning
MU-E
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$861,440
Building Details
Year Built
1973
Year Renovated
1991
Buildings
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
BJ Feller · License #IL 471007951
Source:
Crexi
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 31 at 5:27AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
This 64,000-square-foot flex property in Longmont, Colorado, combines office space with research and development, manufacturing, and outdoor storage areas. Constructed in 1973, the asset carries MU-E zoning and supports a range of integrated business functions within one facility.
The property is fully occupied by nLIGHT Defense Systems, Inc. under a triple-net lease extending through February 2033. Contractual rental increases are set at 3.5% annually. nLIGHT Defense Systems is a wholly owned subsidiary of nLIGHT, Inc., a developer and manufacturer of high-energy laser systems serving defense, aerospace, and industrial applications.
The property is fully occupied by nLIGHT Defense Systems, Inc. under a triple-net lease extending through February 2033. Contractual rental increases are set at 3.5% annually. nLIGHT Defense Systems is a wholly owned subsidiary of nLIGHT, Inc., a developer and manufacturer of high-energy laser systems serving defense, aerospace, and industrial applications.
Key Highlights
- 64,000‑square‑foot office, R&D, manufacturing, and outdoor storage facility
- 100% leased to nLIGHT Defense Systems, Inc. through February 2033
- Long‑term triple‑net lease with 3.5% annual rental increases
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
$570,636
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
4.47%
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%
$11,412,720
$11.4M
Cap Rate 7%
$8,151,943
$8.2M
Cap Rate 9%
$6,340,400
$6.3M
Market Conditions
NOI Build-Up for 64,000 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
$883.2K $13.80/SF
− Vacancy
−$68.0K −$1.06/SF
EGI
$815.2K $12.74/SF
− OpEx
−$244.6K −$3.82/SF
NOI
$570.6K $8.92/SF
Area
Weld County, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$11,412,720
Cap Rate 7%
$8,151,943
Cap Rate 9%
$6,340,400
Alternative Uses
Best Use
Industrial
$8.15M
$7.13M – $9.51M
NOI $570,636 @ 7.0% cap · market cap 4.47%
Second Best
Flex RnD
$7.57M
$6.62M – $8.83M
NOI $529,876 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office B
$11.66M
$10.21M – $13.61M
NOI $816,480 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
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 - Office, research, manufacturing, and outdoor storage functions are combined within one commercial property.
Where is this flex space located?
The property is located at 1301 IOWA AVE LONGMONT CO 80501 Longmont, CO.
What is the asking price?
The asking price for this property is $12,762,000.
What are key features of this property?
This property features: 64,000‑square‑foot office, R&D, manufacturing, and outdoor storage facility; 100% leased to nLIGHT Defense Systems, Inc. through February 2033; Long‑term triple‑net lease with 3.5% annual rental increases
