Two-Unit Medical
For Sale
$1,600,000
4795 Larimer Parkway, Johnstown, CO 80534
Contiguous suites offer an occupied unit alongside move-in-ready space for an owner-user or investor.
Property Size4,846 SF
Days on Market41
Property Features for 4795 Larimer Parkway
General Information
Standard status
Active
Size
4,846 SF
Class
B
Property subtype
Office
Zoning
PD
Additional Details
Floor
2
Highway Access
Yes
Office Units
2
Building Details
Building Size
4,846 SF
Year Built
2008
Buildings
1
Stories
2
Listing Agency:
RE/MAX
Listed By:
Nick Whitworth · License #COLORADOEA100041986
(970) 482-1781
Source:
Remaxcommercial
Added: Aug 3
Changed: Aug 28
Last Checked: Sep 12 at 3:29AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This medical office offering comprises two adjoining condominium units on the second floor of a two-story building. Together, Units 2A and 2B provide 4,846 square feet, with high-end finishes throughout. Unit 2A is leased, while Unit 2B is vacant and ready for occupancy. The available configuration supports continued use of both units, leasing, or a combination of occupancy and rental income.
The property is located at the I-25 and Highway 34 interchange in Johnstown, within the Northern Colorado corridor between Loveland and Greeley. The surrounding area includes retail, restaurants, and healthcare development. Zoning is PD, and the building was completed in 2008.
The property is located at the I-25 and Highway 34 interchange in Johnstown, within the Northern Colorado corridor between Loveland and Greeley. The surrounding area includes retail, restaurants, and healthcare development. Zoning is PD, and the building was completed in 2008.
Key Highlights
- Two contiguous second‑floor condominium units, Units 2A and 2B
- 4,846 SF of combined medical office space
- Unit 2A is leased and Unit 2B is vacant
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
$61,823
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
3.86%
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%
$1,236,460
$1.2M
Cap Rate 7%
$883,186
$883.2K
Cap Rate 9%
$686,922
$686.9K
Market Conditions
NOI Build-Up for 4,846 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
$87.2K $18.00/SF
− Vacancy
−$4.8K −$0.99/SF
EGI
$82.4K $17.01/SF
− OpEx
−$20.6K −$4.25/SF
NOI
$61.8K $12.76/SF
Area
Weld County, CO
Vacancy
5.50%
Lease Rate
$18.00 /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%
$1,236,460
Cap Rate 7%
$883,186
Cap Rate 9%
$686,922
Alternative Uses
Best Use
Office B
$883.2K
$772.8K – $1.03M
NOI $61,823 @ 7.0% cap · market cap 3.86%
Second Best
Healthcare Medical
$59.3K
$51.9K – $69.2K
NOI $4,153 @ 7.0% cap · market cap 0.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80534, CO
18,785
Population
7,137
Households
2.6
Avg Household Size
36
Median Age
37%
College-Educated
95%
High-School Grad
48.1 sq mi
ZIP Area
391
Density / Sq Mi
$132,320
Median Household Income
$65,749
Median Earnings
$1,778
Median Rent
$509,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- The Cat Doctor — 4855 A Thompson Pkwy, Johnstown, CO 80534
Frequently Asked Questions
What type of property is this?
Medical Office Space - Contiguous suites offer an occupied unit alongside move-in-ready space for an owner-user or investor.
Where is this medical office space located?
The property is located at 4795 Larimer Parkway Johnstown, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two contiguous second‑floor condominium units, Units 2A and 2B; 4,846 SF of combined medical office space; Unit 2A is leased and Unit 2B is vacant
