Freestanding Warehouse with Paint
For Sale
Contact for pricing
1712 1st Avenue, Greeley, CO 80631
Freestanding warehouse with finished office build-out in C-3 zoning, including an existing paint booth and 100% vacancy.
Property Size15,612 SF
Lot Size1.69 Acres
Price / SF$208.17
Days on Market18
Property Features for 1712 1st Avenue
General Information
Standard status
Active
Size
15,612 SF
Class
B
Lot size
1.69 Acres
Property subtype
Industrial
Zoning
C-3 Weld County
Lease Type
NNN
Warehouse & Industrial
Clear Height
16 ft
Three-Phase Power
Yes
Additional Details
Asking Price
$3,250,000
Building Details
Buildings
2
Tenancy
Single
Building Size
15,612 SF
Listing Agency:
Waypoint Real Estate
(970) 632-5050
Listed By:
Brian Smerud · License #FA 100042149
Source:
Crexi
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 9 at 10:56AM
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 Waypoint Real Estate
Investment Insights
Based on property information with market context.
Freestanding industrial warehouse at 1712 1st Avenue, Greeley, CO 80631, offering 15,612 SF on 1.686 acres. The building includes a finished office build-out and 16' clear height production space supported by four 14' overhead doors. On the utilities and utilities-to-operations side, the property has 3-phase electrical and a floor drain.
Industrial features include an existing paint booth and an oil burner, supporting a range of auto, fabrication, and general industrial uses. The property is 100% vacant and includes owned on-parcel parking for day-to-day operations.
Zoned C-3, the facility is positioned for tenants looking for a standalone warehouse with both production improvements and office space in one building.
Industrial features include an existing paint booth and an oil burner, supporting a range of auto, fabrication, and general industrial uses. The property is 100% vacant and includes owned on-parcel parking for day-to-day operations.
Zoned C-3, the facility is positioned for tenants looking for a standalone warehouse with both production improvements and office space in one building.
Key Highlights
- 15,612 SF freestanding industrial warehouse on 1.686 acres
- Zoned C‑3
- Finished office build‑out plus 16' clear height
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
$199,170
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
6.13%
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%
$3,983,400
$4.0M
Cap Rate 7%
$2,845,286
$2.8M
Cap Rate 9%
$2,213,000
$2.2M
Market Conditions
NOI Build-Up for 15,612 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
$281.0K $18.00/SF
− Vacancy
−$15.5K −$0.99/SF
EGI
$265.6K $17.01/SF
− OpEx
−$66.4K −$4.25/SF
NOI
$199.2K $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%
$3,983,400
Cap Rate 7%
$2,845,286
Cap Rate 9%
$2,213,000
Alternative Uses
Best Use
Office B
$2.85M
$2.49M – $3.32M
NOI $199,170 @ 7.0% cap · market cap 6.13%
Second Best
Warehouse
$2.49M
$2.18M – $2.90M
NOI $174,149 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Well-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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding warehouse with finished office build-out in C-3 zoning, including an existing paint booth and 100% vacancy.
Where is this warehouse located?
The property is located at 1712 1st Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 15,612 SF freestanding industrial warehouse on 1.686 acres; Zoned C‑3; Finished office build‑out plus 16' clear height
