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    Greeley Shop and Office Space Title is generated by Realmo AI

    420 15th, Greeley, CO 80631

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    Claim this Listing
    For Sale
    $1,163,520

    Turnkey facility with shop and office space in Greeley.

    Type:Commercial
    Property size:
    5,000 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $232/SF
    Added:
    Dec 4, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 9:02 pm

    Property Features for 420 15th

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.46 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    RYAN ANDRE

    Listing agent RYAN ANDRE License #FA0040014705

    Listing office Sears Real Estate

    Listing date Dec 4, 2025

    Source Corcoran

    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 Sears Real Estate

    HighLights

    • Prime Downtown Greeley location with convenient access to Hwy 85.
    • Approximately 5,000 SF of functional shop space with three 14' automatic overhead doors and a dedicated wash bay.
    • Secure, fully fenced and gated yard with razor wire, security system, and 24‑hour access.
    • Drive‑over oil change pit, ideal for automotive, fleet, or service operations.
    • Three main offices plus a finished mezzanine with additional office space.
    • Potential for additional storage/parking via adjacent parcel owned by the seller.

    Overview

    This property is situated in Downtown Greeley, offering convenient access to Hwy 85. The location positions businesses at the heart of Northern Colorado's growing industrial corridor. The property is suitable for owner-users, service contractors, fleet operators, or light manufacturing firms seeking a turnkey facility with both shop and office space. The shop space is approximately 5,000 square feet and includes three 14-foot automatic overhead doors plus a separate dedicated wash bay. One of the bays includes a drive-over oil change pit, making it suitable for automotive, fleet, or service operations. Constructed in 1993, the building features solid timber construction and fully insulated bays. The shop areas are heated and equipped with ceiling fans. The parking and storage area are secured with a fully fenced and gated yard with razor wire, a security system, and 24-hour access. The corner lot provides easy ingress and egress for trucks and trailers. The property includes three main offices plus a finished mezzanine with additional office space. The combination of a secure yard, functional bays, and expansion land supports growth while minimizing future capital needs. An adjacent parcel owned by the seller may be available for extra storage parking.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $90.0k $18.00
    − Vacancy −$5.0k −$0.99
    EGI $85.1k $17.01
    − OpEx −$21.3k −$4.25
    NOI $63.8k $12.76
    5,000 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $911.3K
    $797.4K – $1.06M (±1% cap)
    NOI $63,788 @ 7.0% cap · market cap 5.48%
    Second Best
    Retail
    $807.3K
    $706.4K – $941.9K (±1% cap)
    NOI $56,511 @ 7.0% cap · market cap 4.86%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schaefer Enterprises Inc Social Service Agency Transportation Management Trucking Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.685
    Latitude
    40.4153

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    FAQs

    What type of property is this?
    Flex space - Turnkey facility with shop and office space in Greeley.
    Where is this flex space located?
    The property is located at 420 15th Greeley, CO.
    What is the asking price?
    The asking price for this property is $1,163,520.
    What are key features of this property?
    This property features: Prime Downtown Greeley location with convenient access to Hwy 85.; Approximately 5,000 SF of functional shop space with **three 14' automatic overhead doors and a dedicated wash bay.**; Secure, fully fenced and gated yard with razor wire, security system, and 24‑hour access.
    (970) 330-7700
    We can help!
    Listing Contact
    RYAN ANDRE
    Real Estate License ID: FA0040014705
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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