Fenced Automotive Repair
For Sale
$650,000
509 N Ave 509 9th Ave 509, Greeley, CO 80631
Industrial repair facility with supplemental office space and a secured, gated site.
Property Size2,050 SF
Lot Size1.30 Acres
Price / SF$317.07
Days on Market27
Property Features for 509 N Ave 509 9th Ave 509
General Information
Standard status
Active
Size
2,050 SF
Lot size
1.30 Acres
Property subtype
Business Opportunities
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$8,589
Amenities
overhead doors
3-phase power
gated
3
IMI
City
58240.0
Overhead Doors. Asphalt, City Road.
Building Details
Year Built
1964
Listing Agency:
Coldwell Banker Realty- Fort Collins
(970) 481-3823
Listed By:
Kevin Weimer
(970) 481-3823
Source:
Xome
Added: Jul 15
Changed: Aug 10
Last Checked: Aug 10 at 3:27AM
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 Coldwell Banker Realty- Fort Collins
Investment Insights
Based on property information with market context.
This automotive repair property includes a 2,050-square-foot industrial shop designed for repair and maintenance work. The building has two 12-foot overhead doors, an additional 10-foot overhead door, and 3-phase power. A 672-square-foot modular office provides separate administrative space. The improvements date to 1964.
The property occupies 1.3 acres and is enclosed with fencing and a gate. Its position one block from Hwy 85 provides access to a designated highway corridor while keeping the shop set back from the immediate roadway. The site configuration combines a service building, office component, and secured outdoor area for automotive operations.
The property occupies 1.3 acres and is enclosed with fencing and a gate. Its position one block from Hwy 85 provides access to a designated highway corridor while keeping the shop set back from the immediate roadway. The site configuration combines a service building, office component, and secured outdoor area for automotive operations.
Key Highlights
- 2,050 SF industrial repair and maintenance shop
- 1.3‑acre fenced and gated property
- Two 12' overhead doors plus one 10' overhead door
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
$26,153
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
4.02%
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%
$523,060
$523.1K
Cap Rate 7%
$373,614
$373.6K
Cap Rate 9%
$290,589
$290.6K
Market Conditions
NOI Build-Up for 2,050 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
$36.9K $18.00/SF
− Vacancy
−$2.0K −$0.99/SF
EGI
$34.9K $17.01/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$26.2K $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%
$523,060
Cap Rate 7%
$373,614
Cap Rate 9%
$290,589
Alternative Uses
Best Use
Office B
$373.6K
$326.9K – $435.9K
NOI $26,153 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$331.0K
$289.6K – $386.2K
NOI $23,170 @ 7.0% cap · market cap 3.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Kolor Auto — 910 4th St, Greeley, CO 80631
- Colorado Industries LTD — 311 13th Ave, Greeley, CO 80631
- Rivas Transmissions — 321 8th Ave, Greeley, CO 80631
- Tint Life — 1103 5th st, greeley, co 80631
- Vega Tires & Wheels — 401 8th Ave, Greeley, CO 80631
Frequently Asked Questions
What type of property is this?
Auto shop - Industrial repair facility with supplemental office space and a secured, gated site.
Where is this auto shop located?
The property is located at 509 N Ave 509 9th Ave 509 Greeley, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,050 SF industrial repair and maintenance shop; 1.3‑acre fenced and gated property; Two 12' overhead doors plus one 10' overhead door
