Flex Building with Shop
For Sale
$899,900
2209 9th St 2207/2209-1-4, Greeley, CO 80631
Flexible commercial building with overhead-door access, multiple suites, and designated on-site parking.
Property Size6,723 SF
Price / SF$133.85
Days on Market21
Property Features for 2209 9th St 2207/2209-1-4
General Information
Standard status
Active
Size
6,723 SF
Total Parking Spaces
16
Occupancy
48%
Amenities
dedicated patio space
al fresco dining seating area
Building Details
Year Built
1948
Buildings
1
Listing Agency:
McCoy Property Holdings
(303) 449-7000
Listed By:
Rusty McCoy · License #302761
Source:
Thestrohmangroup
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 7:52PM
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 McCoy Property Holdings
Investment Insights
Based on property information with market context.
This 6,723-square-foot standalone flex building, constructed in 1948, combines service-oriented shop space with adaptable commercial suites. Approximately half of the building is configured as a shop with a 13-foot overhead door, while the balance is divided into four areas suitable for suites, studios, showrooms, or offices. A refreshed front elevation, new planters, and a west-end patio area with al fresco dining seating add to the property’s current configuration.
Located at 2209 9th St in Greeley, Colorado, the property includes side parking and freshly lined, painted, and seal-coated asphalt with 16 designated spaces. The property is reported as 48% leased as of 7/15/2026. Mineral rights and a gas lease are included in the sale.
Located at 2209 9th St in Greeley, Colorado, the property includes side parking and freshly lined, painted, and seal-coated asphalt with 16 designated spaces. The property is reported as 48% leased as of 7/15/2026. Mineral rights and a gas lease are included in the sale.
Key Highlights
- 6,723‑square‑foot standalone flex building constructed in 1948
- 13‑foot overhead door serving a shop area occupying about 1/2 of the building
- Remaining space divided into 4 suites, studios, showrooms, or offices
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
$59,943
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
6.66%
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%
$1,198,860
$1.2M
Cap Rate 7%
$856,329
$856.3K
Cap Rate 9%
$666,033
$666.0K
Market Conditions
NOI Build-Up for 6,723 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
$92.8K $13.80/SF
− Vacancy
−$7.1K −$1.06/SF
EGI
$85.6K $12.74/SF
− OpEx
−$25.7K −$3.82/SF
NOI
$59.9K $8.92/SF
Area
Greeley, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$1,198,860
Cap Rate 7%
$856,329
Cap Rate 9%
$666,033
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,769 @ 7.0% cap · market cap 9.53%
Second Best
Industrial
$856.3K
$749.3K – $999.1K
NOI $59,943 @ 7.0% cap · market cap 6.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
48%
Occupancy
Location Intelligence
Trade Area within ½ mile
680
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with overhead-door access, multiple suites, and designated on-site parking.
Where is this flex space located?
The property is located at 2209 9th St 2207/2209-1-4 Greeley, CO.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 6,723‑square‑foot standalone flex building constructed in 1948; 13‑foot overhead door serving a shop area occupying about 1/2 of the building; Remaining space divided into 4 suites, studios, showrooms, or offices
