Flex Space with Overhead
For Sale
$110,000
611 15th St, Greeley, CO 80631
Commercial Sale, Greeley, CO
Property Size900 SF
Lot Size0.07 Acres
Price / SF$122.22
Days on Market31
Property Features for 611 15th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Beer & Thomas Sub
Elementary school
Maplewood
High school
Northridge
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R3261886
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1380
Building Details
Year built
2004
Building materials
Frame
Roof type
Composition
Listing Agency:
Resident Realty
(970) 282-8585
Listed By:
Jesus Llerenas
(970) 313-6371
Added: Jul 21
Changed: Aug 19
Last Checked: Aug 20 at 6:06PM
MLS# 1064732
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial flex-space property is configured as an open garage or shop with frame construction and a composition roof. A standard two-car overhead garage door provides vehicle and equipment access, while the alley approach supports loading and entry from the rear. The property is zoned Commercial and sits on a 0.07-acre lot.
Built in 2004, the building offers a straightforward format for commercial operations requiring enclosed workspace, material access, and an open interior arrangement. Its location in Greeley provides an established setting for a small-scale commercial building.
Built in 2004, the building offers a straightforward format for commercial operations requiring enclosed workspace, material access, and an open interior arrangement. Its location in Greeley provides an established setting for a small-scale commercial building.
Key Highlights
- Commercial zoning on a 0.07‑acre lot
- Open garage or shop layout
- Standard two‑car overhead garage 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
$8,025
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
7.30%
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%
$160,500
$160.5K
Cap Rate 7%
$114,643
$114.6K
Cap Rate 9%
$89,167
$89.2K
Market Conditions
NOI Build-Up for 900 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
$12.4K $13.80/SF
− Vacancy
−$956 −$1.06/SF
EGI
$11.5K $12.74/SF
− OpEx
−$3.4K −$3.82/SF
NOI
$8.0K $8.92/SF
Area
Greeley, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$160,500
Cap Rate 7%
$114,643
Cap Rate 9%
$89,167
Alternative Uses
Best Use
Industrial
$114.6K
$100.3K – $133.8K
NOI $8,025 @ 7.0% cap · market cap 7.30%
Second Best
Flex RnD
$106.4K
$93.1K – $124.2K
NOI $7,451 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office B
$164.0K
$143.5K – $191.4K
NOI $11,482 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Under-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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- C & J Market & Deli — 722 5th Ave, Greeley, CO 80631
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout with alley access and a two-car overhead garage door.
Where is this flex space located?
The property is located at 611 15th St Greeley, CO.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Commercial zoning on a 0.07‑acre lot; Open garage or shop layout; Standard two‑car overhead garage door
