Longmont Three-Story Brick
For Sale
$1,350,000
24 Ave 24 9th Ave 24, Longmont, CO 80501
High-quality mixed-use building with redevelopment potential in Longmont, Colorado.
Property Size7,204 SF
Price / SF$187.40
Days on Market374
Property Features for 24 Ave 24 9th Ave 24
General Information
Standard status
Active
Size
7,204 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$25,914
Amenities
Central Air
3
MU-E
Level
11686.0
Railroad, City Road, Level, Southern Exposure.
Building Details
Year Built
1985
Listing Agency:
1st Realty Associates Inc
(720) 352-9824
Listed By:
Brittany Rusaw
(720) 352-9824
Source:
Xome
Added: Aug 22, 2025
Changed: Aug 25
Last Checked: Aug 29 at 7:32AM
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 1st Realty Associates Inc
Investment Insights
Based on property information with market context.
This high-quality, three-story brick building in Longmont features a full-glass south elevation and a strong architectural presence. The south-facing orientation provides excellent natural light. The property is well maintained and includes additional storage space behind the building. It is zoned MU-E, allowing for a wide range of commercial and mixed-use opportunities. Existing tenants are on month-to-month leases, providing flexibility for repositioning, redevelopment, or owner-user occupancy. Under Longmont's MU-E mixed-use zoning, the property is well-positioned for adaptive reuse and mixed-use redevelopment, with potential for live/work units, residential conversion, or multifamily uses alongside commercial/office spaces, subject to municipal approval. The MU-E designation supports a mix of employment-oriented uses as well as residential components and pedestrian-oriented live/work opportunities in appropriate settings, consistent with the city's long-range land use goals. This creates optionality for creative redevelopment concepts or phased value-add strategies in a strong Longmont location. The property has a bike score of 78, indicating it is very bikeable, a walk score of 42, indicating it is car-dependent, and a transit score of 22, indicating minimal transit options.
Key Highlights
- Flexible MU‑E zoning allows for diverse commercial, mixed‑use, or residential redevelopment (subject to approval).
- Month‑to‑month tenant leases provide immediate
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
$91,905
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
6.81%
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%
$1,838,100
$1.8M
Cap Rate 7%
$1,312,929
$1.3M
Cap Rate 9%
$1,021,167
$1.0M
Market Conditions
NOI Build-Up for 7,204 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
$129.7K $18.00/SF
− Vacancy
−$7.1K −$0.99/SF
EGI
$122.5K $17.01/SF
− OpEx
−$30.6K −$4.25/SF
NOI
$91.9K $12.76/SF
Area
Weld County, 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%
$1,838,100
Cap Rate 7%
$1,312,929
Cap Rate 9%
$1,021,167
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,905 @ 7.0% cap · market cap 6.81%
Second Best
Mixed Use
$107.0K
$93.6K – $124.9K
NOI $7,491 @ 7.0% cap · market cap 0.55%
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
1,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
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?
Mixed-use property - High-quality mixed-use building with redevelopment potential in Longmont, Colorado.
Where is this mixed-use property located?
The property is located at 24 Ave 24 9th Ave 24 Longmont, CO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Flexible MU‑E zoning allows for diverse commercial, mixed‑use, or residential redevelopment (subject to approval).; Month‑to‑month tenant leases provide immediate
