Flex Warehouse with Drive-In
For Sale
$950,000
532-534 W 66TH STREET, Loveland, CO 80538
Flex units with warehouse space, two-floor offices, sprinklers, and 12' x 14' drive-in doors.
Property Size4,369 SF
Days on Market51
Property Features for 532-534 W 66TH STREET
General Information
Standard status
Active
Size
4,369 SF
Property subtype
Industrial
Building Details
Building Size
4,369 SF
Year Built
2000
Listing Agency:
Unique Properties, Inc
(303) 668-3733
Listed By:
Brad Gilpin · License #EA.100007414
(303) 668-3733
Source:
Uniqueprop
Added: Jun 25
Changed: Aug 7
Last Checked: Aug 14 at 5:22AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
Units 532 and 534 offer flex-style space combining warehouse and office on two floors. Unit 532 totals 2,171 SF, including 1,032 SF of warehouse and 1,139 SF of office. Unit 534 totals 2,198 SF, including 1,032 SF of warehouse and 1,166 SF of office. Each unit features a 12' x 14' drive-in door, 18' ceilings, and sprinklers throughout. Power is provided with 3-phase, 200-amp service per unit.
The property is offered for sale at 532-534 W 66TH STREET in Loveland, CO 80538. An owner-user configuration is available, with 2,747 SF available for an owner user, consisting of Unit #532 plus the 2nd floor office of Unit #534. Unit #534 also includes a portion currently leased through 7/31/2029, with 1,702 SF leased as of the data provided (main floor of Unit #534).
For tenants or buyers seeking flexible operations, the building supports a practical split between warehouse activity and office space across two floors. The available owner-user area can support a business that needs in-house office while maintaining dedicated warehouse improvements, and the remaining leased portion provides continuity as outlined in the provided lease term.
The property is offered for sale at 532-534 W 66TH STREET in Loveland, CO 80538. An owner-user configuration is available, with 2,747 SF available for an owner user, consisting of Unit #532 plus the 2nd floor office of Unit #534. Unit #534 also includes a portion currently leased through 7/31/2029, with 1,702 SF leased as of the data provided (main floor of Unit #534).
For tenants or buyers seeking flexible operations, the building supports a practical split between warehouse activity and office space across two floors. The available owner-user area can support a business that needs in-house office while maintaining dedicated warehouse improvements, and the remaining leased portion provides continuity as outlined in the provided lease term.
Key Highlights
- Flex unit #532 totals 2,171 SF: 1,032 SF warehouse plus 1,139 SF two‑floor office
- Flex unit #534 totals 2,198 SF: 1,032 SF warehouse plus 1,166 SF two‑floor office
- Each unit includes a 12' x 14' drive‑in door and 18' ceilings with sprinklers throughout
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
$61,934
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
6.52%
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%
$1,238,680
$1.2M
Cap Rate 7%
$884,771
$884.8K
Cap Rate 9%
$688,156
$688.2K
Market Conditions
NOI Build-Up for 4,369 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
$88.6K $20.28/SF
− Vacancy
−$6.0K −$1.38/SF
EGI
$82.6K $18.90/SF
− OpEx
−$20.6K −$4.73/SF
NOI
$61.9K $14.18/SF
Area
Larimer County, CO
Vacancy
6.80%
Lease Rate
$20.28 /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%
$1,238,680
Cap Rate 7%
$884,771
Cap Rate 9%
$688,156
Alternative Uses
Best Use
Office B
$884.8K
$774.2K – $1.03M
NOI $61,934 @ 7.0% cap · market cap 6.52%
Second Best
Warehouse
$672.1K
$588.1K – $784.1K
NOI $47,045 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,090 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80538, CO
49,084
Population
21,923
Households
2.2
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
102.2 sq mi
ZIP Area
480
Density / Sq Mi
$85,057
Median Household Income
$49,074
Median Earnings
$1,730
Median Rent
$472,200
Median Home Value
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex units with warehouse space, two-floor offices, sprinklers, and 12' x 14' drive-in doors.
Where is this flex space located?
The property is located at 532-534 W 66TH STREET Loveland, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Flex unit #532 totals 2,171 SF: 1,032 SF warehouse plus 1,139 SF two‑floor office; Flex unit #534 totals 2,198 SF: 1,032 SF warehouse plus 1,166 SF two‑floor office; Each unit includes a 12' x 14' drive‑in door and 18' ceilings with sprinklers throughout
