Three-Building Downtown
For Sale
Contact for pricing
135 N Cleveland Ave, Loveland, CO 80537
Three-building live/work and income portfolio with Cleveland Avenue frontage and separate unit configurations.
Property Size4,180 SF
Price / SF$212.92
Days on Market147
Property Features for 135 N Cleveland Ave
General Information
Standard status
Active
Size
4,180 SF
Property subtype
Mixed Use, Multifamily, Office, Retail
Zoning
DT - Downtown
Investment Type
Value Add
Additional Details
Traffic Count
11,000 vehicles/day
Building Details
Buildings
3
Units
3
Listing Agency:
Realtec Loveland
Listed By:
Bruce Campbell · License #CO 100041380
(970) 231-6824
Source:
Crexi
Added: Apr 16
Changed: Sep 8
Last Checked: Sep 8 at 6:38AM
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 Realtec Loveland
Investment Insights
Based on property information with market context.
This three-building downtown portfolio offers a live/work setup and multiple income-stream options. The former retail building at the corner of 1st Street and Cleveland Avenue is currently configured as a residence. An additional open shop space provides flexibility for a range of uses. A single-family home on the property is currently split into two units, with separate ground-level and lower-level accommodations.
The property features frontage on Cleveland Avenue from 1st Street to 2nd Street, placing it on corner locations and along a high-visibility corridor. The public remarks note traffic counts exceeding 11,000 vehicles per day, and the portfolio is directly across from Townplace Suites by Marriott.
With newer roofs reported for reduced near-term capital expenses, the offering combines multiple structures and configurations within a concentrated downtown setting.
The property features frontage on Cleveland Avenue from 1st Street to 2nd Street, placing it on corner locations and along a high-visibility corridor. The public remarks note traffic counts exceeding 11,000 vehicles per day, and the portfolio is directly across from Townplace Suites by Marriott.
With newer roofs reported for reduced near-term capital expenses, the offering combines multiple structures and configurations within a concentrated downtown setting.
Key Highlights
- Three‑building live/work and income portfolio built in 1928 with Cleveland Avenue frontage from 1st Street to 2nd Street
- Includes corner property at 1st Street & Cleveland Avenue, currently configured as a residence
- Flexible open shop space within the portfolio with potential for a variety of uses
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
$59,255
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
6.66%
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%
$1,185,100
$1.2M
Cap Rate 7%
$846,500
$846.5K
Cap Rate 9%
$658,389
$658.4K
Market Conditions
NOI Build-Up for 4,180 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
$84.8K $20.28/SF
− Vacancy
−$5.8K −$1.38/SF
EGI
$79.0K $18.90/SF
− OpEx
−$19.8K −$4.73/SF
NOI
$59.3K $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%
$1,185,100
Cap Rate 7%
$846,500
Cap Rate 9%
$658,389
Alternative Uses
Best Use
Office B
$846.5K
$740.7K – $987.6K
NOI $59,255 @ 7.0% cap · market cap 6.66%
Second Best
Multifamily LT 5
$614.6K
$537.8K – $717.1K
NOI $43,024 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.12M
$981.7K – $1.31M
NOI $78,539 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
11,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,658
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-building live/work and income portfolio with Cleveland Avenue frontage and separate unit configurations.
Where is this live-work space located?
The property is located at 135 N Cleveland Ave Loveland, CO.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Three‑building live/work and income portfolio built in 1928 with Cleveland Avenue frontage from 1st Street to 2nd Street; Includes corner property at 1st Street & Cleveland Avenue, currently configured as a residence; Flexible open shop space within the portfolio with potential for a variety of uses
