Highway-Frontage Flex
New
For Sale
$1,415,000
2015 2nd Ave A-D, Greeley, CO 80631
Versatile commercial building with customer-facing improvements, industrial functionality, and on-site parking.
Property Size11,100 SF
Price / SF$127.48
Days on Market1
Property Features for 2015 2nd Ave A-D
General Information
Standard status
Active
Size
11,100 SF
Property subtype
Industrial
Zoning
I-M
Site & Location
Traffic Count
23,328 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
1
Amenities
point-of-sale desk
private offices
changing rooms
showroom
restrooms
storage space
breakroom
Building Details
Building Size
11,100 SF
Year Built
1974
Buildings
1
Listing Agency:
The Group;, Inc. Real Estate
Listed By:
Rachel Bomgaars · License #FA100053381
(970) 290-4198
Source:
Elliman
Added: Sep 5
Last Checked: Sep 5 at 3:35PM
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 The Group;, Inc. Real Estate
Investment Insights
Based on property information with market context.
This approximately 11,100-square-foot flex property combines a customer-facing layout with practical support and service areas. The building includes a showroom, built-in point-of-sale desk, two private offices, changing rooms, two restrooms, rear storage, and a breakroom. A 10' x 10' grade-level overhead door supports deliveries, equipment movement, and inventory handling. The property was built in 1974 and is zoned Industrial Medium (I-M) by the City of Greeley.
Located at 2015 2nd Ave A-D, the property has frontage along Highway 85 and approximately 23,328 vehicles pass the site each day. Highway 34 provides east-west access through Greeley, while I-76 connects the area with Denver, the Denver metro area, and northern markets toward Cheyenne. On-site parking supports customer, employee, and commercial vehicle needs.
Located at 2015 2nd Ave A-D, the property has frontage along Highway 85 and approximately 23,328 vehicles pass the site each day. Highway 34 provides east-west access through Greeley, while I-76 connects the area with Denver, the Denver metro area, and northern markets toward Cheyenne. On-site parking supports customer, employee, and commercial vehicle needs.
Key Highlights
- Approximately 11,100 square feet of flex space
- Industrial Medium (I‑M) zoning
- Highway 85 frontage with approximately 23,328 vehicles per day
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
$125,454
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
8.87%
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%
$2,509,080
$2.5M
Cap Rate 7%
$1,792,200
$1.8M
Cap Rate 9%
$1,393,933
$1.4M
Market Conditions
NOI Build-Up for 11,100 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
$199.8K $18.00/SF
− Vacancy
−$20.6K −$1.85/SF
EGI
$179.2K $16.15/SF
− OpEx
−$53.8K −$4.84/SF
NOI
$125.5K $11.30/SF
Area
Greeley, CO
Vacancy
10.30%
Lease Rate
$18.00 /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%
$2,509,080
Cap Rate 7%
$1,792,200
Cap Rate 9%
$1,393,933
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,454 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$1.41M
$1.24M – $1.65M
NOI $98,970 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office B
$2.02M
$1.77M – $2.36M
NOI $141,608 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
23,328 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- University of Northern Colorado Catering — 2045 10th Ave, Greeley, CO 80639
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with customer-facing improvements, industrial functionality, and on-site parking.
Where is this flex space located?
The property is located at 2015 2nd Ave A-D Greeley, CO.
What is the asking price?
The asking price for this property is $1,415,000.
What are key features of this property?
This property features: Approximately 11,100 square feet of flex space; Industrial Medium (I‑M) zoning; Highway 85 frontage with approximately 23,328 vehicles per day
