Office Building with Government
New
For Sale
Contact for pricing
3257 W 20th St, Greeley, CO 80634
Office asset with an existing public-sector tenant and additional space available for occupancy or future expansion.
Property Size11,009 SF
Price / SF$163.50
Days on Market4
Property Features for 3257 W 20th St
General Information
Standard status
Active
Size
11,009 SF
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield | Fort Collins
(970) 267-7723
Listed By:
Jared Goodman · License #40017764
(970) 267-7723
Source:
Moodyscre
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 21 at 2:21AM
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 | Fort Collins
Investment Insights
Based on property information with market context.
This office property contains 11,009 square feet and includes 6,684 square feet leased to the State of Colorado Division of Adult Parole under a new 10-year lease. The building also offers additional space that can support lease-up or accommodate an owner-user requirement.
Located at 3257 W 20th St in Greeley, the property fronts the W 20th Street corridor and is near established retail amenities. Its existing government tenancy, combined with available occupancy flexibility, provides multiple ways to use the building while retaining the current lease arrangement.
Located at 3257 W 20th St in Greeley, the property fronts the W 20th Street corridor and is near established retail amenities. Its existing government tenancy, combined with available occupancy flexibility, provides multiple ways to use the building while retaining the current lease arrangement.
Key Highlights
- 11,009‑square‑foot office property
- 6,684 square feet occupied by the State of Colorado Division of Adult Parole
- New 10‑year lease with a government tenant
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
$140,447
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
7.80%
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%
$2,808,940
$2.8M
Cap Rate 7%
$2,006,386
$2.0M
Cap Rate 9%
$1,560,522
$1.6M
Market Conditions
NOI Build-Up for 11,009 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
$198.2K $18.00/SF
− Vacancy
−$10.9K −$0.99/SF
EGI
$187.3K $17.01/SF
− OpEx
−$46.8K −$4.25/SF
NOI
$140.4K $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%
$2,808,940
Cap Rate 7%
$2,006,386
Cap Rate 9%
$1,560,522
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.34M
NOI $140,447 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
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
476
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office asset with an existing public-sector tenant and additional space available for occupancy or future expansion.
Where is this office building located?
The property is located at 3257 W 20th St Greeley, CO.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 11,009‑square‑foot office property; 6,684 square feet occupied by the State of Colorado Division of Adult Parole; New 10‑year lease with a government tenant
