Multi-Tenant Office
For Sale
Contact for pricing
1901 56th Ave, Greeley, CO 80634
Fully occupied multi-tenant office building with four tenants and recently resurfaced parking lot.
Property Size19,879 SF
Price / SF$142.86
Days on Market842
Property Features for 1901 56th Ave
General Information
Standard status
Active
Size
19,879 SF
Property subtype
OFFICE
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Fort Collins
(970) 305-8113
Listed By:
Jake Hallauer · License #FA100028819
(970) 305-8113
Source:
Moodyscre
Added: May 2, 2024
Changed: Aug 11
Last Checked: Aug 11 at 3:00AM
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 CBRE - Fort Collins
Investment Insights
Based on property information with market context.
Multi-tenant office building for sale at 1901 56th Ave in Greeley, CO, totaling 19,879 SF and currently fully occupied with four tenants. Recent improvements include fresh exterior paint and a newly resurfaced parking lot.
The building is located along W. 20th Street in west Greeley, providing access to restaurants, retail, residential areas, recreational facilities, and public amenities.
With a four-tenant layout and updates to the exterior and parking, the property offers an office configuration suited to companies looking for an established, in-place tenancy.
The building is located along W. 20th Street in west Greeley, providing access to restaurants, retail, residential areas, recreational facilities, and public amenities.
With a four-tenant layout and updates to the exterior and parking, the property offers an office configuration suited to companies looking for an established, in-place tenancy.
Key Highlights
- 19,879 SF multi‑tenant office building at 1901 56th Ave, Greeley, CO
- Fully occupied with four tenants
- Fresh exterior paint
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
$253,606
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
8.93%
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%
$5,072,120
$5.1M
Cap Rate 7%
$3,622,943
$3.6M
Cap Rate 9%
$2,817,844
$2.8M
Market Conditions
NOI Build-Up for 19,879 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
$357.8K $18.00/SF
− Vacancy
−$19.7K −$0.99/SF
EGI
$338.1K $17.01/SF
− OpEx
−$84.5K −$4.25/SF
NOI
$253.6K $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%
$5,072,120
Cap Rate 7%
$3,622,943
Cap Rate 9%
$2,817,844
Alternative Uses
Best Use
Office B
$3.62M
$3.17M – $4.23M
NOI $253,606 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 80634, CO
65,980
Population
25,802
Households
2.6
Avg Household Size
36
Median Age
32%
College-Educated
90%
High-School Grad
38.3 sq mi
ZIP Area
1,723
Density / Sq Mi
$83,255
Median Household Income
$46,808
Median Earnings
$1,567
Median Rent
$405,300
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.
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied multi-tenant office building with four tenants and recently resurfaced parking lot.
Where is this office building located?
The property is located at 1901 56th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $2,840,000.
What are key features of this property?
This property features: 19,879 SF multi‑tenant office building at 1901 56th Ave, Greeley, CO; Fully occupied with four tenants; Fresh exterior paint
