Three-Building Flex Office/Warehouse
For Sale
Contact for pricing
4540 Venture Dr, Johnstown, CO 80534
Three-building office/warehouse flex condominium project with four units per building, built in 2023 and 2024.
Property Size3,922 SF
Price / SF$316.17
Days on Market143
Property Features for 4540 Venture Dr
General Information
Standard status
Active
Size
3,922 SF
Property subtype
INDUSTRIAL
Listing Agency:
Realtec Greeley
(970) 346-9900
Listed By:
Mark Bradley, CCIM, SIOR
(970) 227-2511
Source:
Moodyscre
Added: Apr 28
Changed: Sep 13
Last Checked: Sep 16 at 1:43PM
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 Realtec Greeley
Investment Insights
Based on property information with market context.
The Venture Drive Office Condominiums is a three-building office/warehouse flex condominium project in the 2534 development. The property was built in 2023 and 2024, and it comprises multiple condominium units configured within three separate buildings. Each building contains four condominium units, offering a straightforward structure for office-and-warehouse style uses.
The project totals 3,922 square feet. It presents a newer option for tenants or owners seeking a flex setup where office space and warehouse functionality can be combined within a condominium framework.
With four condominium units per building across three buildings, the property supports flexible ownership and leasing structures while maintaining a consistent project design and footprint.
The project totals 3,922 square feet. It presents a newer option for tenants or owners seeking a flex setup where office space and warehouse functionality can be combined within a condominium framework.
With four condominium units per building across three buildings, the property supports flexible ownership and leasing structures while maintaining a consistent project design and footprint.
Key Highlights
- Three‑building flex office/warehouse condominium project
- Total size: 3,922 square feet
- Built in 2023 and 2024
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
$43,749
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
3.53%
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%
$874,980
$875.0K
Cap Rate 7%
$624,986
$625.0K
Cap Rate 9%
$486,100
$486.1K
Market Conditions
NOI Build-Up for 3,922 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
$56.0K $14.28/SF
− Vacancy
−$4.5K −$1.16/SF
EGI
$51.5K $13.12/SF
− OpEx
−$7.7K −$1.97/SF
NOI
$43.7K $11.15/SF
Area
Weld County, CO
Vacancy
8.10%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$874,980
Cap Rate 7%
$624,986
Cap Rate 9%
$486,100
Alternative Uses
Best Use
Warehouse
$625.0K
$546.9K – $729.2K
NOI $43,749 @ 7.0% cap · market cap 3.53%
Second Best
Industrial
$499.6K
$437.1K – $582.8K
NOI $34,969 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office B
$714.8K
$625.4K – $833.9K
NOI $50,035 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80534, CO
18,785
Population
7,137
Households
2.6
Avg Household Size
36
Median Age
37%
College-Educated
95%
High-School Grad
48.1 sq mi
ZIP Area
391
Density / Sq Mi
$132,320
Median Household Income
$65,749
Median Earnings
$1,778
Median Rent
$509,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Three-building office/warehouse flex condominium project with four units per building, built in 2023 and 2024.
Where is this flex space located?
The property is located at 4540 Venture Dr Johnstown, CO.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Three‑building flex office/warehouse condominium project; Total size: 3,922 square feet; Built in 2023 and 2024
