Office Building with Loading
New
For Sale
$695,000
823 16th St, Greeley, CO 80631
A two-level layout combines offices, reception areas, kitchens, and rear service access.
Property Size3,277 SF
Days on Market2
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Property Features for 823 16th St
General Information
Standard status
Active
Size
3,277 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,185
Amenities
loading dock
Building Details
Building Size
3,277 SF
Year Built
1898
Buildings
1
Listing Agency:
Kristine K Woody
Listed By:
Kristine Woody
(970) 405-8809
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 9:26PM
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 Kristine K Woody
Investment Insights
Based on property information with market context.
Built in 1898, this two-level office building has a main-floor reception area, four offices, a kitchen, and three bathrooms. Two rear doors provide additional access, including one positioned at loading-dock height. The upper floor contains a kitchen, two bathrooms, a large open room suited to reception, conference, or office use, and a separate room configured as a bedroom or office. An unfinished basement provides storage space.
The property at 823 16th in Greeley includes private parking. The surrounding 16th Street corridor has undergone renovation, and city improvements have addressed on-street parking.
The property at 823 16th in Greeley includes private parking. The surrounding 16th Street corridor has undergone renovation, and city improvements have addressed on-street parking.
Key Highlights
- 1898 construction
- Main floor includes four offices, a reception area, a kitchen, and three bathrooms
- Two rear doors, including one at loading‑dock height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,806
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,120
$836.1K
Cap Rate 7%
$597,229
$597.2K
Cap Rate 9%
$464,511
$464.5K
Market Conditions
NOI Build-Up for 3,277 SF
Gross rent
$59.0K $18.00/SF
− Vacancy
−$3.2K −$0.99/SF
EGI
$55.7K $17.01/SF
− OpEx
−$13.9K −$4.25/SF
NOI
$41.8K $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 Rate 5%
$836,120
Cap Rate 7%
$597,229
Cap Rate 9%
$464,511
Alternative Uses
Best Use
Office B
$597.2K
$522.6K – $696.8K
NOI $41,806 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - A two-level layout combines offices, reception areas, kitchens, and rear service access.
Where is this office building located?
The property is located at 823 16th St Greeley, CO.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1898 construction; Main floor includes four offices, a reception area, a kitchen, and three bathrooms; Two rear doors, including one at loading‑dock height
