Greeley Quadplex with Flexible
For Sale
$1,100,000
3109 35th Ave, Greeley, CO 80634
Quadplex in Greeley, suitable for lease or owner-occupancy.
Property Size6,253 SF
Lot Size0.76 Acres
Days on Market165
Property Features for 3109 35th Ave
General Information
Standard status
Active
Size
6,253 SF
Lot size
0.76 Acres
Property subtype
Commercial
Building Details
Building Size
6,253 SF
Year Built
1996
Listing Agency:
Cushman & Wakefield
(970) 690-4227
Listed By:
Jared Goodman · License #40017764
(970) 690-4227
Source:
Elliman
Added: Mar 10
Changed: Aug 16
Last Checked: Aug 20 at 8:26AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This property is a quadplex and is suitable for multifamily or residential income purposes. The current owner is open to leasing back the building for up to five years for their business or selling it vacant. The property is already divided into four condominium units, making it suitable for leasing to four tenants or for occupying the entire building.
Key Highlights
- Option to purchase with a lease‑back agreement from the current owner for up to five years.
- Already divided into four condominium units.
- Suitable for leasing to four separate tenants.
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
$71,965
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
6.54%
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%
$1,439,300
$1.4M
Cap Rate 7%
$1,028,071
$1.0M
Cap Rate 9%
$799,611
$799.6K
Market Conditions
NOI Build-Up for 6,253 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
$108.8K $17.40/SF
− Vacancy
−$6.0K −$0.96/SF
EGI
$102.8K $16.44/SF
− OpEx
−$30.8K −$4.93/SF
NOI
$72.0K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$1,439,300
Cap Rate 7%
$1,028,071
Cap Rate 9%
$799,611
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$899.6K – $1.20M
NOI $71,965 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$944.1K
$826.1K – $1.10M
NOI $66,089 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office B
$1.14M
$997.2K – $1.33M
NOI $79,773 @ 7.0% cap · market cap 7.25%
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
Explore this area
Business Placement
Demographics for 80634, CO
65,980
Population
25,802
Households
2.6
Avg Household Size
36
Median Age
32%
College-Educated
90%
High-School Grad
38.3 sq mi
ZIP Area
1,723
Density / Sq Mi
$83,255
Median Household Income
$46,808
Median Earnings
$1,567
Median Rent
$405,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex in Greeley, suitable for lease or owner-occupancy.
Where is this quadplex located?
The property is located at 3109 35th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Option to purchase with a lease‑back agreement from the current owner for up to five years.; Already divided into four condominium units.; Suitable for leasing to four separate tenants.
