Greeley Office Building For
For Sale
$2,600,000
2021 Clubhouse Drive, Greeley, CO 80634
Class A office building in growing Greeley area near golf course.
Property Size18,147 SF
Price / SF$143.27
Days on Market205
Property Features for 2021 Clubhouse Drive
General Information
Standard status
Active
Size
18,147 SF
Class
B
Property subtype
Office
Building Details
Building Size
18,147 SF
Year Built
1962
Listing Agency:
SVN | Denver Commercial
(970) 566-3481
Listed By:
Bill Reilly · License #IA100007601
(970) 566-3481
Source:
Svn
Added: Jan 27
Changed: Aug 10
Last Checked: Aug 20 at 6:03AM
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 SVN | Denver Commercial
Investment Insights
Based on property information with market context.
This 18,147-square-foot office building is located in West Greeley, near the Highland Hills Golf Course, an area experiencing rapid growth. The property features Class A office finishes. A new roof was installed in 2019, and the parking lot was updated in 2020. The property was previously condominiumized into 8 units, presenting a potential value-add opportunity for future owners to divide the building and accommodate smaller tenants. Current tenant lease expirations are as follows: Sears Real Estate on December 31, 2031; Smile Doctors on October 30, 2025; and Colorado Early Education (sublease) on August 31, 2028.
Key Highlights
- Value‑add opportunity: Potential to divide the building into 8 units.
- Located in Greeley's fastest‑growing area.
- Tenant leases in place with staggered expirations, including Sears Real Estate until December 31, 2031.
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
$231,510
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
8.90%
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%
$4,630,200
$4.6M
Cap Rate 7%
$3,307,286
$3.3M
Cap Rate 9%
$2,572,333
$2.6M
Market Conditions
NOI Build-Up for 18,147 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
$326.6K $18.00/SF
− Vacancy
−$18.0K −$0.99/SF
EGI
$308.7K $17.01/SF
− OpEx
−$77.2K −$4.25/SF
NOI
$231.5K $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%
$4,630,200
Cap Rate 7%
$3,307,286
Cap Rate 9%
$2,572,333
Alternative Uses
Best Use
Office B
$3.31M
$2.89M – $3.86M
NOI $231,510 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
611
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 - Class A office building in growing Greeley area near golf course.
Where is this office building located?
The property is located at 2021 Clubhouse Drive Greeley, CO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Value‑add opportunity: Potential to divide the building into 8 units.; Located in Greeley's fastest‑growing area.; Tenant leases in place with staggered expirations, including Sears Real Estate until December 31, 2031.
