Greeley R&D / Industrial
For Sale
$949,999
2881 South 31st Avenue, Greeley, CO 80631
9,003 SF R&D/Industrial space in Greeley, Colorado for sale.
Property Size9,003 SF
Price / SF$105.52
Days on Market330
Property Features for 2881 South 31st Avenue
General Information
Standard status
Active
Size
9,003 SF
Class
B
Property subtype
Industrial
Zoning
Commercial High Intensity
Building Details
Building Size
9,003 SF
Year Built
1999
Listing Agency:
RE/MAX
(970) 215-7016
Listed By:
Michelle Hickey Crawford · License #1414
(970) 215-7016
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: May 8 at 10:04PM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 9,003 SF R&D / Industrial space consists of 4 condo units in building B at 2881 S 31st Avenue in Greeley. The units underwent a full renovation in 2017, adding complete climate control, new offices, and conference space. The property features seven 12’x12’ overhead doors providing pull-through access, and a 12’x12’ dock-high door. The building has an 18’ clear height at the centerline at the bottom of the beam and 16’ 1/2" at the bottom of the corner beam, with 20’ ceilings. The building has a new roof as of 2019 and siding updates the same year. The property has ample power to accommodate various uses and is located within the Commercial High Intensity (C-H) Corridor zone, making it suitable for a wide variety of businesses. The site is located within the Colorado Enterprise Zone and is 1 mile from HWY 34 and one hour from Denver International Airport. Units can be sold separately.
Key Highlights
- 9,003 SF R&D / Industrial space consisting of 4 condo units.
- Full renovation in 2017 including complete climate control for the warehouse, new offices, and conference space.
- Excellent access with seven 12’x12’ OH doors providing pull‑through access and one 12’x12’ dock‑high door.
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
$80,272
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
8.45%
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%
$1,605,440
$1.6M
Cap Rate 7%
$1,146,743
$1.1M
Cap Rate 9%
$891,911
$891.9K
Market Conditions
NOI Build-Up for 9,003 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
$124.2K $13.80/SF
− Vacancy
−$9.6K −$1.06/SF
EGI
$114.7K $12.74/SF
− OpEx
−$34.4K −$3.82/SF
NOI
$80.3K $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%
$1,605,440
Cap Rate 7%
$1,146,743
Cap Rate 9%
$891,911
Alternative Uses
Best Use
Warehouse
$1.43M
$1.26M – $1.67M
NOI $100,427 @ 7.0% cap · market cap 10.57%
Second Best
Industrial
$1.15M
$1.00M – $1.34M
NOI $80,272 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office B
$1.64M
$1.44M – $1.91M
NOI $114,856 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Balanced
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Guardian Storage Greeley — 2600 36th Ave, Greeley, CO 80634
- Guardian Storage Greeley 29th — 2450 W 29th St, Greeley, CO 80631
- Homestead Self Storage — 3546 W 29th St, Greeley, CO 80634
- StoreItWise @Ashcroft — 3253 35th Ave, Evans, CO 80620
- Guardian Storage Greeley 31st — 2858 31st Ave, Greeley, CO 80631
Frequently Asked Questions
What type of property is this?
Warehouse - 9,003 SF R&D/Industrial space in Greeley, Colorado for sale.
Where is this warehouse located?
The property is located at 2881 South 31st Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: 9,003 SF R&D / Industrial space consisting of 4 condo units.; Full renovation in 2017 including complete climate control for the warehouse, new offices, and conference space.; Excellent access with **seven 12’x12’ OH doors providing pull‑through access** and one 12’x12’ dock‑high door.
