Industrial
For Sale
$3,498,796
5635 Boeing Dr, Loveland, CO 80538
Constructed in 1995 and marketed alongside additional Lockheed Avenue addresses.
Property Size24,261 SF
Price / SF$144.21
Days on Market381
Property Features for 5635 Boeing Dr
General Information
Standard status
Active
Size
24,261 SF
Property subtype
Business Opportunities
Taxes and HOA fees
Annual Taxes
$68,729
Amenities
Central Air
3
Industrial
62466
Gutters. Curbs Walk, Asphalt, City Road.
Building Details
Year Built
1995
Listing Agency:
Group Harmony
(970) 692-4454
Listed By:
Rhett Strom
(970) 692-4454
Source:
Xome
Added: Aug 16, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:28PM
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 Group Harmony
Investment Insights
Based on property information with market context.
Located at 5635 Boeing in Loveland, Colorado, this industrial property was constructed in 1995. The offering includes 5818–5821 Lockheed Ave. as part of the same transaction. Walk Score is 21, and Bike Score is 30, indicating car-dependent access with some bikeability.
Key Highlights
- 1995 construction
- Offered together with 5818–5821 Lockheed Ave.
- Walk Score: 21
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
$215,138
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
6.15%
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%
$4,302,760
$4.3M
Cap Rate 7%
$3,073,400
$3.1M
Cap Rate 9%
$2,390,422
$2.4M
Market Conditions
NOI Build-Up for 24,261 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
$336.3K $13.86/SF
− Vacancy
−$28.9K −$1.19/SF
EGI
$307.3K $12.67/SF
− OpEx
−$92.2K −$3.80/SF
NOI
$215.1K $8.87/SF
Area
Larimer County, CO
Vacancy
8.60%
Lease Rate
$13.86 /SF/Yr
Expense Ratio
30.00%
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%
$4,302,760
Cap Rate 7%
$3,073,400
Cap Rate 9%
$2,390,422
Alternative Uses
Best Use
Industrial
$3.07M
$2.69M – $3.59M
NOI $215,138 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.51M
$5.70M – $7.60M
NOI $455,843 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Constructed in 1995 and marketed alongside additional Lockheed Avenue addresses.
Where is this industrial property located?
The property is located at 5635 Boeing Dr Loveland, CO.
What is the asking price?
The asking price for this property is $3,498,796.
What are key features of this property?
This property features: 1995 construction; Offered together with 5818–5821 Lockheed Ave.; Walk Score: 21
