Industrial Flex Condominium
For Sale
$340,000
2105 E 11th St Ste 180, Loveland, CO 80537
Industrial-flex unit with built-out office, overhead loading door, and fenced yard for practical indoor-outdoor operations.
Property Size1,822 SF
Lot Size0.13 Acres
Price / SF$186.61
Days on Market50
Property Features for 2105 E 11th St Ste 180
General Information
Standard status
Active
Size
1,822 SF
Class
B
Lot size
0.13 Acres
Property subtype
Industrial
Zoning
I
Additional Details
Fenced Yard
Yes
Drive-In Doors
1
Building Details
Building Size
1,822 SF
Year Built
2006
Stories
1
Tenancy
Single
Listing Agency:
Lee & Associates | Denver
(303) 902-9983
Listed By:
Matt Burgner · License #CO #FA.100067702
Source:
Lee-associates
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 10 at 3:31AM
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 Lee & Associates | Denver
Investment Insights
Based on property information with market context.
Unit 180 at 2105 E 11th Street is a well-maintained industrial/flex condominium offering a functional blend of office and warehouse space. The suite includes a professional office build-out with an open work area, private restroom, and break area, along with additional storage space. The warehouse/garage component is served by an overhead loading door, supporting day-to-day loading and movement of goods or equipment. For operational flexibility and added security, the property also features a fenced yard for outdoor storage.
The unit is located in a single-story metal building and is listed as Class B with one overhead door. Parking is available in both covered and surface formats. The suite is positioned behind a Walmart Business condo within the same condominium environment.
This configuration is well-suited for tenants and owners who want office space integrated with an easy-loading warehouse component and secured outdoor storage. The presence of a private restroom, dedicated break area, and additional storage supports use cases that require both administrative space and practical space for work, inventory, or equipment handling. With its overhead loading door and fenced yard, the unit offers a straightforward setup for mixed office-and-operations users.
The unit is located in a single-story metal building and is listed as Class B with one overhead door. Parking is available in both covered and surface formats. The suite is positioned behind a Walmart Business condo within the same condominium environment.
This configuration is well-suited for tenants and owners who want office space integrated with an easy-loading warehouse component and secured outdoor storage. The presence of a private restroom, dedicated break area, and additional storage supports use cases that require both administrative space and practical space for work, inventory, or equipment handling. With its overhead loading door and fenced yard, the unit offers a straightforward setup for mixed office-and-operations users.
Key Highlights
- 1,822 SF industrial/flex condominium unit in a 13,780 SF building
- Professional office build‑out with open work area plus private restroom and break area
- Warehouse/garage space with 1 overhead loading door for loading and operations
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
$25,828
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
7.60%
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%
$516,560
$516.6K
Cap Rate 7%
$368,971
$369.0K
Cap Rate 9%
$286,978
$287.0K
Market Conditions
NOI Build-Up for 1,822 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
$37.0K $20.28/SF
− Vacancy
−$2.5K −$1.38/SF
EGI
$34.4K $18.90/SF
− OpEx
−$8.6K −$4.73/SF
NOI
$25.8K $14.18/SF
Area
Larimer County, CO
Vacancy
6.80%
Lease Rate
$20.28 /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%
$516,560
Cap Rate 7%
$368,971
Cap Rate 9%
$286,978
Alternative Uses
Best Use
Office B
$369.0K
$322.9K – $430.5K
NOI $25,828 @ 7.0% cap · market cap 7.60%
Second Best
Warehouse
$280.3K
$245.2K – $327.0K
NOI $19,619 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$489.1K
$427.9K – $570.6K
NOI $34,234 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80537, CO
43,603
Population
20,314
Households
2.1
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
122.4 sq mi
ZIP Area
356
Density / Sq Mi
$83,746
Median Household Income
$44,448
Median Earnings
$1,630
Median Rent
$460,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial-flex unit with built-out office, overhead loading door, and fenced yard for practical indoor-outdoor operations.
Where is this flex space located?
The property is located at 2105 E 11th St Ste 180 Loveland, CO.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,822 SF industrial/flex condominium unit in a 13,780 SF building; Professional office build‑out with open work area plus private restroom and break area; Warehouse/garage space with 1 overhead loading door for loading and operations
