Triplex with Detached
New
For Sale
$617,000
1715 11th Avenue, Greeley, CO 80631
Three-unit property with a detached garage, separate utility metering, shared parking, and alley access.
Property Size3,600 SF
Days on Market5
Property Features for 1715 11th Avenue
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
2
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,435
Amenities
covered front porch
mature trees
Building Details
Building Size
3,600 SF
Year Built
1901
Listing Agency:
C3 Real Estate Solutions, LLC
Listed By:
Erin Brady
(970) 225-5154
Source:
Eliselosassore
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 5 at 4:55AM
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 C3 Real Estate Solutions, LLC
Investment Insights
Based on property information with market context.
Built in 1901, this triplex contains three residential units with a 3-bedroom, 2-bath layout in Unit A and 3-bedroom, 1-bath layouts in Units B and C. Unit B has been recently remodeled, and Unit A is currently available. Gas and electricity are separately metered for each unit, while tenants pay all utilities. A detached oversized 576 SF two-car garage provides an additional rentable improvement.
The property sits on a large lot with mature trees, a covered front porch, ample parking, a shared driveway, and alley access. Fresh exterior paint has been completed. Its location near the University of Northern Colorado and downtown Greeley is complemented by a 76 walk score and 58 bike score, providing walkable and bikeable access to nearby destinations.
The property sits on a large lot with mature trees, a covered front porch, ample parking, a shared driveway, and alley access. Fresh exterior paint has been completed. Its location near the University of Northern Colorado and downtown Greeley is complemented by a 76 walk score and 58 bike score, providing walkable and bikeable access to nearby destinations.
Key Highlights
- Three‑unit triplex with 3‑bedroom layouts across all units
- Detached oversized 576 SF two‑car garage
- Unit A: 3 bed / 2 bath; Units B and C: 3 bed / 1 bath
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
$41,432
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
6.72%
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%
$828,640
$828.6K
Cap Rate 7%
$591,886
$591.9K
Cap Rate 9%
$460,356
$460.4K
Market Conditions
NOI Build-Up for 3,600 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
$62.6K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$59.2K $16.44/SF
− OpEx
−$17.8K −$4.93/SF
NOI
$41.4K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$828,640
Cap Rate 7%
$591,886
Cap Rate 9%
$460,356
Alternative Uses
Best Use
Multifamily LT 5
$591.9K
$517.9K – $690.5K
NOI $41,432 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$543.6K
$475.6K – $634.2K
NOI $38,049 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office B
$656.1K
$574.1K – $765.5K
NOI $45,927 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
788
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a detached garage, separate utility metering, shared parking, and alley access.
Where is this triplex located?
The property is located at 1715 11th Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $617,000.
What are key features of this property?
This property features: Three‑unit triplex with 3‑bedroom layouts across all units; Detached oversized 576 SF two‑car garage; Unit A: 3 bed / 2 bath; Units B and C: 3 bed / 1 bath
