Class A Office Building with 8
For Sale
Contact for pricing
2021 Clubhouse Dr, Greeley, CO 80634
Class A office finishes in a condominium-converted building with eight units and recent roof and parking lot upgrades.
Property Size18,147 SF
Price / SF$143.27
Days on Market278
Property Features for 2021 Clubhouse Dr
General Information
Standard status
Active
Size
18,147 SF
Class
A
Property subtype
OFFICE
Additional Details
Office Units
8
Building Details
Tenancy
Multi
Listing Agency:
SVN | Denver Commercial
(970) 207-0700
Listed By:
Bill Reilly · License #IA100007601
(970) 566-3481
Source:
Moodyscre
Added: Dec 15, 2025
Changed: Sep 17
Last Checked: Sep 18 at 7:28AM
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 property was previously condominiumized, creating eight office units that can be demised for smaller tenant needs. The building is described as having Class A office finishes. Recent improvements include a new roof installed in 2019 and a new parking lot installed in 2020.
The property is located at 2021 Clubhouse Dr in Greeley, CO. The current lease schedule includes Sears Real Estate through December 31, 2031; Smile Doctors through October 30, 2025; and a sublease for Colorado Early Education through August 31, 2028. Financials are available by contacting brokers.
The property is located at 2021 Clubhouse Dr in Greeley, CO. The current lease schedule includes Sears Real Estate through December 31, 2031; Smile Doctors through October 30, 2025; and a sublease for Colorado Early Education through August 31, 2028. Financials are available by contacting brokers.
Key Highlights
- Condominium‑converted building with 8 units, offering potential for future owners to demise the building for smaller tenants
- Tenant lease expirations: Smile Doctors through Oct 30, 2025; Sears Real Estate through Dec 31, 2031
- Sublease: Colorado Early Education through Aug 31, 2028
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
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Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
512
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Class A office finishes in a condominium-converted building with eight units and recent roof and parking lot upgrades.
Where is this office units located?
The property is located at 2021 Clubhouse Dr 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: Condominium‑converted building with 8 units, offering potential for future owners to demise the building for smaller tenants; Tenant lease expirations: Smile Doctors through Oct 30, 2025; Sears Real Estate through Dec 31, 2031; Sublease: Colorado Early Education through Aug 31, 2028
