Office Building with Garage
For Sale
$825,000
1422 8th Ave, Greeley, CO 80631
CH-zoned office property with private work areas, support space, garages, storage, and on-site parking.
Property Size4,477 SF
Days on Market9
Property Features for 1422 8th Ave
General Information
Standard status
Active
Size
4,477 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,994
Building Details
Building Size
4,477 SF
Year Built
1956
Listing Agency:
RE/MAX Comm. Alliance-Greeley
(970) 590-0955
Listed By:
Mary Jo Brockshus · License #FA100068550
(970) 590-0955
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 20 at 11:20AM
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 Comm. Alliance-Greeley
Investment Insights
Based on property information with market context.
This CH-zoned office building at 1422 8th Ave includes 7 private offices, 4 bathrooms, and a kitchenette. The property also provides 2 garages with 8-foot overhead doors, additional storage, and 23 parking spaces, creating a practical setup for an operating business or professional office use.
Built in 1956, the building is positioned on 8th Avenue in Greeley. The surrounding setting records a bike score of 78, described as Very Bikeable, and a walk score of 52, described as Somewhat Walkable. The combination of office rooms, support areas, garage capacity, and parking offers a functional commercial configuration.
Built in 1956, the building is positioned on 8th Avenue in Greeley. The surrounding setting records a bike score of 78, described as Very Bikeable, and a walk score of 52, described as Somewhat Walkable. The combination of office rooms, support areas, garage capacity, and parking offers a functional commercial configuration.
Key Highlights
- 7 private offices and 4 bathrooms
- 2 garages with 8‑foot overhead doors
- 23 parking spaces
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
$57,115
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
6.92%
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%
$1,142,300
$1.1M
Cap Rate 7%
$815,929
$815.9K
Cap Rate 9%
$634,611
$634.6K
Market Conditions
NOI Build-Up for 4,477 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
$80.6K $18.00/SF
− Vacancy
−$4.4K −$0.99/SF
EGI
$76.2K $17.01/SF
− OpEx
−$19.0K −$4.25/SF
NOI
$57.1K $12.76/SF
Area
Greeley, 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%
$1,142,300
Cap Rate 7%
$815,929
Cap Rate 9%
$634,611
Alternative Uses
Best Use
Office B
$815.9K
$713.9K – $951.9K
NOI $57,115 @ 7.0% cap · market cap 6.92%
Second Best
Retail
$722.9K
$632.5K – $843.3K
NOI $50,600 @ 7.0% cap · market cap 6.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - CH-zoned office property with private work areas, support space, garages, storage, and on-site parking.
Where is this office building located?
The property is located at 1422 8th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 7 private offices and 4 bathrooms; 2 garages with 8‑foot overhead doors; 23 parking spaces
