Creative Warehouse-Office
For Sale
Contact for pricing
229 SW 12th St, Loveland, CO 80537
Two-story creative warehouse-office condo with office space on both levels and dedicated entrance and rear exit.
Property Size2,286 SF
Price / SF$174.98
Days on Market145
Property Features for 229 SW 12th St
General Information
Standard status
Active
Size
2,286 SF
Class
B
Property subtype
Office, Industrial
Zoning
(I) Developing Industrial
Lease Type
NNN
Building Details
Year Built
1979
Year Renovated
1991
Buildings
1
Stories
2
Listing Agency:
Waypoint Real Estate
Listed By:
Jack Chunko · License #CO 100101170
(970) 632-5050
Source:
Crexi
Added: Apr 14
Changed: Aug 14
Last Checked: Sep 2 at 2:03AM
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 Waypoint Real Estate
Investment Insights
Based on property information with market context.
Available for lease or sale, this 2,286 SF creative warehouse-office condo offers a two-story layout designed for mixed workspace needs. The first floor includes an open work area, warehouse, kitchenette, two bathrooms, and storage, with a main entrance and a rear exit. The second floor features multiple private offices, an open work area open to below, utility storage, and a shower.
The building has signage available on the door and includes on-site parking along 12th Street. The property is zoned Developing Industrial (I) in Loveland.
With approximately 70% office build-out within the warehouse/office condo setting, the space is well-suited to configurations that combine manufacturing, storage, and office functions under one roof.
The building has signage available on the door and includes on-site parking along 12th Street. The property is zoned Developing Industrial (I) in Loveland.
With approximately 70% office build-out within the warehouse/office condo setting, the space is well-suited to configurations that combine manufacturing, storage, and office functions under one roof.
Key Highlights
- 2,286 SF two‑story creative warehouse‑office condo with office areas on both levels
- 1979 build with warehouse space on the first floor and office space on both levels
- First floor includes open work area, warehouse, kitchenette, 2 bathrooms, storage, main entrance, and rear exit
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
$32,406
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
8.10%
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%
$648,120
$648.1K
Cap Rate 7%
$462,943
$462.9K
Cap Rate 9%
$360,067
$360.1K
Market Conditions
NOI Build-Up for 2,286 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
$46.4K $20.28/SF
− Vacancy
−$3.2K −$1.38/SF
EGI
$43.2K $18.90/SF
− OpEx
−$10.8K −$4.73/SF
NOI
$32.4K $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%
$648,120
Cap Rate 7%
$462,943
Cap Rate 9%
$360,067
Alternative Uses
Best Use
Office B
$462.9K
$405.1K – $540.1K
NOI $32,406 @ 7.0% cap · market cap 8.10%
Second Best
Warehouse
$351.6K
$307.7K – $410.3K
NOI $24,615 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$613.6K
$536.9K – $715.9K
NOI $42,952 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Balanced
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 - Two-story creative warehouse-office condo with office space on both levels and dedicated entrance and rear exit.
Where is this flex space located?
The property is located at 229 SW 12th St Loveland, CO.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,286 SF two‑story creative warehouse‑office condo with office areas on both levels; 1979 build with warehouse space on the first floor and office space on both levels; First floor includes open work area, warehouse, kitchenette, 2 bathrooms, storage, main entrance, and rear exit
