Highway-Frontage Flex
New
For Sale
$1,415,000
2015 2nd Ave, Greeley, CO 80631
Commercial Sale, Greeley, CO
Property Size11,100 SF
Price / SF$127.48
Days on Market2
Property Features for 2015 2nd Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IM
Appliances
No Inclusions
Subdivision
Schultz Indust Plaza
Elementary school
Maplewood
High school
Greeley Central
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R3463086
Taxes and HOA fees
Tax Year
2025
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1974
Building materials
Metal Siding, Metal Frame
Roof type
Metal
Listing Agency:
Group Harmony
(970) 229-0700
Listed By:
Rachel Bomgaars · License #FA100053381
(970) 290-4198
Added: Sep 4
Last Checked: Sep 5 at 9:06AM
MLS# 1068059
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 11,100-square-foot flex property combines retail-oriented improvements with functional space for industrial, service, warehouse, or hybrid operations. The interior includes a showroom, built-in point-of-sale desk, two private offices, changing rooms, two restrooms, rear storage, and a breakroom. A 10' x 10' grade-level overhead door supports material handling and deliveries, while on-site parking accommodates daily commercial activity. Constructed in 1974 with a metal frame, metal siding, and metal roof, the building has forced-air heat, central air, cable availability, and public sewer service.
Located at 2015 2nd Ave in Greeley, the property fronts Highway 85 and records approximately 23,328 vehicles per day. Highway 34 is nearby, with access to I-76 and regional routes serving Northern Colorado, the Denver metropolitan area, and Cheyenne. Zoning is IM, or Industrial Medium, under the City of Greeley.
Located at 2015 2nd Ave in Greeley, the property fronts Highway 85 and records approximately 23,328 vehicles per day. Highway 34 is nearby, with access to I-76 and regional routes serving Northern Colorado, the Denver metropolitan area, and Cheyenne. Zoning is IM, or Industrial Medium, under the City of Greeley.
Key Highlights
- Approximately 11,100 square feet of flex commercial space
- IM zoning under the City of Greeley
- Highway 85 frontage with approximately 23,328 vehicles per day
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
$125,454
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
8.87%
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%
$2,509,080
$2.5M
Cap Rate 7%
$1,792,200
$1.8M
Cap Rate 9%
$1,393,933
$1.4M
Market Conditions
NOI Build-Up for 11,100 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
$199.8K $18.00/SF
− Vacancy
−$20.6K −$1.85/SF
EGI
$179.2K $16.15/SF
− OpEx
−$53.8K −$4.84/SF
NOI
$125.5K $11.30/SF
Area
Greeley, CO
Vacancy
10.30%
Lease Rate
$18.00 /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%
$2,509,080
Cap Rate 7%
$1,792,200
Cap Rate 9%
$1,393,933
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,454 @ 7.0% cap · market cap 8.87%
Second Best
Warehouse
$1.77M
$1.55M – $2.06M
NOI $123,819 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office B
$2.02M
$1.77M – $2.36M
NOI $141,608 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
23,328 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Under-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 Industrial 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?
Flex space - Versatile commercial building with customer-facing improvements, support areas, and grade-level loading access.
Where is this flex space located?
The property is located at 2015 2nd Ave Greeley, CO.
What is the asking price?
The asking price for this property is $1,415,000.
What are key features of this property?
This property features: Approximately 11,100 square feet of flex commercial space; IM zoning under the City of Greeley; Highway 85 frontage with approximately 23,328 vehicles per day
