Two-Unit Multifamily
For Sale
$532,500
1437 Centennial Drive, Longmont, CO 80501
Each residence combines two bedrooms, one full bath, an eat-in kitchen, laundry, fireplace, driveway, and attached garage.
Property Size1,920 SF
Days on Market134
Property Features for 1437 Centennial Drive
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Amenities
fireplace
in-unit laundry
private driveway
attached garage
Building Details
Building Size
1,920 SF
Listing Agency:
RE/MAX Elevate
(303) 472-2222
Listed By:
Keith Kanemoto · License #FA40009659
Source:
Remaxcommercial
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 7:12PM
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 Elevate
Investment Insights
Based on property information with market context.
This two-unit multifamily property at 1437–1439 Centennial Drive includes residences with two bedrooms and one full bathroom each. Interior features include fireplaces, eat-in kitchens, and in-unit laundry, creating practical living arrangements within each unit. Private driveways and attached garages provide dedicated parking and storage for the occupants.
The property is located in Longmont, Colorado, at 1437 Centennial Drive. Its paired-unit configuration supports residential income use while also accommodating an owner-user arrangement, both of which are directly reflected in the existing layout.
The property is located in Longmont, Colorado, at 1437 Centennial Drive. Its paired-unit configuration supports residential income use while also accommodating an owner-user arrangement, both of which are directly reflected in the existing layout.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bath
- Fireplace included in each unit
- Eat‑in kitchens provide dedicated dining space
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
$20,293
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
3.81%
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%
$405,860
$405.9K
Cap Rate 7%
$289,900
$289.9K
Cap Rate 9%
$225,478
$225.5K
Market Conditions
NOI Build-Up for 1,920 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
$39.2K $20.40/SF
− Vacancy
−$2.3K −$1.18/SF
EGI
$36.9K $19.22/SF
− OpEx
−$16.6K −$8.65/SF
NOI
$20.3K $10.57/SF
Area
Weld County, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$405,860
Cap Rate 7%
$289,900
Cap Rate 9%
$225,478
Alternative Uses
Best Use
Apartment 5plus
$289.9K
$253.7K – $338.2K
NOI $20,293 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$349.9K
$306.2K – $408.2K
NOI $24,494 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Each residence combines two bedrooms, one full bath, an eat-in kitchen, laundry, fireplace, driveway, and attached garage.
Where is this multifamily property located?
The property is located at 1437 Centennial Drive Longmont, CO.
What is the asking price?
The asking price for this property is $532,500.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bath; Fireplace included in each unit; Eat‑in kitchens provide dedicated dining space
