Building Details

Building Size 3,032 SF

Year Built 1950

Listing Agency: C3 Real Estate Solutions, LLC

Listed By: Jesse Laner · License #100029586 Show Phone

Source: Elliman

Added: Oct 23 Changed: Oct 26 Last Checked: Oct 26 at 2:57PM

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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 C3 Real Estate Solutions, LLC

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Investment Insights

Based on property information with market context.

This flex property contains approximately 3,032 square feet on a 0.149-acre parcel. The interior includes two large work bays and nine additional work or office bays, with a half bath. The building was constructed in 1950 and was previously leased to an electrician. Its varied bay layout combines dedicated work areas with separate office or workspace options.

Located in downtown Wellington, the property has a lot approximately 79.8 feet deep and 38 feet wide. The layout provides a mix of work and office areas within a compact commercial property.

Key Highlights

• Approximately 3,032 square feet of building area
• Two large work bays plus nine separate work or office bays
• 0.149‑acre lot, approximately 79.8' deep and 38' wide

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,887

Cap Rate

7.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$537,740 $537.7K

Cap Rate 7%

$384,100 $384.1K

Cap Rate 9%

$298,744 $298.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,032 SF

Gross rent

$42.0K $13.86/SF

− Vacancy

−$3.6K −$1.19/SF

EGI

$38.4K $12.67/SF

− OpEx

−$11.5K −$3.80/SF

NOI

$26.9K $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 Rate 5%

$537,740

Cap Rate 7%

$384,100

Cap Rate 9%

$298,744

Alternative Uses

Best Use

Warehouse

$466.4K

$408.1K – $544.1K (±1% cap)

NOI $32,648 @ 7.0% cap · market cap 9.33%

Second Best

Industrial

$384.1K

$336.1K – $448.1K (±1% cap)

NOI $26,887 @ 7.0% cap · market cap 7.68%

Theoretical Best

Office A

$813.8K

$712.1K – $949.5K (±1% cap)

NOI $56,969 @ 7.0% cap · market cap 16.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Law Firm HVAC Service Parking Lot & Garage Auto Parts Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 80549, CO

13,530

Population

5,131

Households

2.6

Avg Household Size

34

Median Age

44%

College-Educated

97%

High-School Grad

187.1 sq mi

ZIP Area

72

Density / Sq Mi

$103,760

Median Household Income

$52,401

Median Earnings

$2,290

Median Rent

$452,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Multiple work and office areas, along with a half bath, support a range of workspace and storage needs.

Where is this flex space located?

The property is located at 8133 2nd St Wellington, CO.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Approximately 3,032 square feet of building area; Two large work bays plus nine separate work or office bays; 0.149‑acre lot, approximately 79.8' deep and 38' wide