Industrial Warehouse with
For Sale
$1,242,857
3026 1st Ave, Greeley, CO 80631
Industrial building includes warehouse and office space, two 12x12 overhead doors, and a large fenced outside yard.
Property Size6,000 SF
Lot Size0.58 Acres
Price / SF$207.14
Days on Market92
Property Features for 3026 1st Ave
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.58 Acres
Property subtype
Commercial
Zoning
I-M
Occupancy
100%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Drive-In Doors
2
Building Details
Building Size
6,000 SF
Year Built
1999
Listing Agency:
Waypoint Real Estate
(970) 218-4284
Listed By:
Erik Caffee · License #FA100042149
(970) 218-4284
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Jul 31 at 8:23AM
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.
This industrial building offers a practical split between 4,200 SF of warehouse space and 1,800 SF of office space. The facility includes (2) 12x12 overhead doors and a large fenced outside yard designed to support secured outdoor storage needs. Zoned Industrial Medium (I-M), the property is set up for industrial, service, or contractor users seeking functional warehouse operations with on-site office space.
The property is located on 0.58 acres in Greeley’s established industrial corridor, approximately 0.7 miles from the US-85/US-34 interchange. It is currently 100% leased.
With dedicated warehouse access via overhead doors and a fenced yard, the layout supports day-to-day logistics alongside office functionality within the same building.
The property is located on 0.58 acres in Greeley’s established industrial corridor, approximately 0.7 miles from the US-85/US-34 interchange. It is currently 100% leased.
With dedicated warehouse access via overhead doors and a fenced yard, the layout supports day-to-day logistics alongside office functionality within the same building.
Key Highlights
- 6,000 SF industrial building on 0.58 acres in Greeley’s established industrial corridor
- Includes 4,200 SF warehouse and 1,800 SF office space
- Two 12x12 overhead doors plus a large fenced outside yard for secured outdoor storage
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
$76,545
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
6.16%
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%
$1,530,900
$1.5M
Cap Rate 7%
$1,093,500
$1.1M
Cap Rate 9%
$850,500
$850.5K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$5.9K −$0.99/SF
EGI
$102.1K $17.01/SF
− OpEx
−$25.5K −$4.25/SF
NOI
$76.5K $12.76/SF
Area
Greeley, 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%
$1,530,900
Cap Rate 7%
$1,093,500
Cap Rate 9%
$850,500
Alternative Uses
Best Use
Office B
$1.09M
$956.8K – $1.28M
NOI $76,545 @ 7.0% cap · market cap 6.16%
Second Best
Warehouse
$956.1K
$836.6K – $1.12M
NOI $66,929 @ 7.0% cap · market cap 5.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
100%
Occupancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial building includes warehouse and office space, two 12x12 overhead doors, and a large fenced outside yard.
Where is this flex space located?
The property is located at 3026 1st Ave Greeley, CO.
What is the asking price?
The asking price for this property is $1,242,857.
What are key features of this property?
This property features: 6,000 SF industrial building on 0.58 acres in Greeley’s established industrial corridor; Includes 4,200 SF warehouse and 1,800 SF office space; Two 12x12 overhead doors plus a large fenced outside yard for secured outdoor storage
