Corner-Lot Quadplex Near Medical
New
For Sale
$770,000
1934 12th Ave, Greeley, CO 80631
Four residential units offer consistent two-bedroom, one-bathroom layouts in a corner-lot property near a newly opened medical campus.
Property Size3,292 SF
Lot Size0.25 Acres
Price / SF$233.90
Days on Market2
Property Features for 1934 12th Ave
General Information
Standard status
Active
Size
3,292 SF
Lot size
0.25 Acres
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,292
Building Details
Year Built
1956
Units
4
Listing Agency:
Pinnacle Real Estate Advisors
(303) 881-4291
Listed By:
Charlie Mitelhaus
(303) 881-4291
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This quadplex contains four residential units, each arranged with two bedrooms and one bathroom, for a combined 3,292 SF of living area. The property occupies a quarter-acre corner lot and was built in 1956, providing an established residential configuration in Greeley’s Cranford neighborhood.
The asset is located at 1934 12th Ave, directly opposite the newly opened University of Northern Colorado College of Osteopathic Medicine. Its four-unit layout and proximity to the campus place the property within a residential setting connected to a major nearby institutional use.
The asset is located at 1934 12th Ave, directly opposite the newly opened University of Northern Colorado College of Osteopathic Medicine. Its four-unit layout and proximity to the campus place the property within a residential setting connected to a major nearby institutional use.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1 bathroom layouts
- 3,292 SF residential property on a quarter‑acre corner lot
- Built in 1956
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
$37,887
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
4.92%
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%
$757,740
$757.7K
Cap Rate 7%
$541,243
$541.2K
Cap Rate 9%
$420,967
$421.0K
Market Conditions
NOI Build-Up for 3,292 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
$57.3K $17.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$54.1K $16.44/SF
− OpEx
−$16.2K −$4.93/SF
NOI
$37.9K $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%
$757,740
Cap Rate 7%
$541,243
Cap Rate 9%
$420,967
Alternative Uses
Best Use
Multifamily LT 5
$541.2K
$473.6K – $631.5K
NOI $37,887 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$497.1K
$434.9K – $579.9K
NOI $34,794 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office B
$600.0K
$525.0K – $700.0K
NOI $41,998 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
494
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer consistent two-bedroom, one-bathroom layouts in a corner-lot property near a newly opened medical campus.
Where is this quadplex located?
The property is located at 1934 12th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1 bathroom layouts; 3,292 SF residential property on a quarter‑acre corner lot; Built in 1956
