Longmont Restaurant Investment
For Sale
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451 S Pratt Pkwy, Longmont, CO 80501
Single-tenant restaurant property with a strong lease and prime location.
Property Size6,533 SF
Lot Size0.63 Acres
Price / SF$252.41
Days on Market294
Property Features for 451 S Pratt Pkwy
General Information
Standard status
Active
Size
6,533 SF
Class
B
Lot size
0.63 Acres
Property subtype
Retail
Zoning
C-C – Commercial Community
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$115,000
Building Details
Year Built
1978
Year Renovated
2010
Buildings
1
Listing Agency:
Vanguard Development
Listed By:
Mikael van Loon · License #ER 318911
Source:
Crexi
Added: Nov 9, 2025
Changed: Aug 8
Last Checked: Aug 29 at 6:32AM
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 Vanguard Development
Investment Insights
Based on property information with market context.
This single-tenant property at 451 Ken Pratt Parkway, Longmont, CO 80501, presents an investment opportunity. The 6,553 RSF building is situated on 0.63 acres and is occupied by a tenant with a NNN lease. The property features ample parking and is located near a major intersection and residential area within a busy shopping district. The building has been renovated in 2012, 2016, and most recently. The tenant has a lease term of 5 years with a lease rate starting from $17.50/RSF NNN. The one-floor building includes landlord-owned FF&E, making it a turnkey investment. The property offers a 7% cap rate.
Key Highlights
- Stable NNN lease with a proven tenant
- Attractive 7% cap rate
- Strong lease term of 5 years at $17.50/RSF NNN
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
$79,111
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
4.80%
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%
$1,582,220
$1.6M
Cap Rate 7%
$1,130,157
$1.1M
Cap Rate 9%
$879,011
$879.0K
Market Conditions
NOI Build-Up for 6,533 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
$117.6K $18.00/SF
− Vacancy
−$12.1K −$1.85/SF
EGI
$105.5K $16.15/SF
− OpEx
−$26.4K −$4.04/SF
NOI
$79.1K $12.11/SF
Area
Weld County, CO
Vacancy
10.30%
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%
$1,582,220
Cap Rate 7%
$1,130,157
Cap Rate 9%
$879,011
Alternative Uses
Best Use
Specialty Retail
$1.13M
$988.9K – $1.32M
NOI $79,111 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$1.19M
$1.04M – $1.39M
NOI $83,345 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Nykolena Catering — 1225 Ken Pratt Blvd Suite 135, Longmont, CO 80501
- Greens Point Catering — 1240 Ken Pratt Blvd #3, Longmont, CO 80501
- El Herradero Food Truck LLC — 1375 Sherman Dr, Longmont, CO 80501
- Hesher BBQ Catering — 700 Ken Pratt Blvd # 200, Longmont, CO 80501
- Craft Catering Co — 623 Ken Pratt Blvd, Longmont, CO 80504
Frequently Asked Questions
What type of property is this?
Restaurant - Single-tenant restaurant property with a strong lease and prime location.
Where is this restaurant located?
The property is located at 451 S Pratt Pkwy Longmont, CO.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Stable NNN lease with a proven tenant; Attractive 7% cap rate; Strong lease term of 5 years at $17.50/RSF NNN
