Multifamily Property with RV
For Sale
Contact for pricing
1550 E 18th St, Greeley, CO 80631
Three homes, RV spaces, and storage on 2.5 acres.
Property Size4,914 SF
Lot Size2.50 Acres
Price / SF$223.85
Days on Market771
Property Features for 1550 E 18th St
General Information
Standard status
Active
Size
4,914 SF
Class
B
Lot size
2.50 Acres
Property subtype
Multifamily
Zoning
C-1
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1999
Buildings
3
Stories
1
Units
3
Listing Agency:
J Kundert Real Estate
(970) 302-4046
Listed By:
John Kundert · License #CO 100033916
Source:
Crexi
Added: Jul 12, 2024
Changed: Aug 8
Last Checked: Aug 20 at 5:14PM
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 J Kundert Real Estate
Investment Insights
Based on property information with market context.
This property features three homes situated on 2.5 acres, zoned C-1. The property includes 11 RV spaces and a 1,000 square foot storage shed, offering potential for additional rental income. The main residence is a 1,500 square foot, 3-bedroom, 2-bath modular home constructed on an unfinished basement in 1999. The second home is a 1,467 square foot stick-built house with a 2,047 square foot finished basement, featuring 3 bedrooms and 2 baths. The third home is a 900 square foot residence built on a slab, with 2 bedrooms and 1 bath. The property benefits from a location on Highway 34 and 18th Street, providing access from both streets.
Key Highlights
- Multiple Income Streams: Three homes, 11 RV spaces, and a storage shed offer diverse rental income opportunities.
- Large Lot with Commercial Zoning: 2.5 acres zoned C‑1 provides flexibility for various business or development options.
- Highway Accessibility: Located on Highway 34 and 18th Street with access from both streets, ensuring high visibility and convenient access.
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
$51,937
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
4.72%
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%
$1,038,740
$1.0M
Cap Rate 7%
$741,957
$742.0K
Cap Rate 9%
$577,078
$577.1K
Market Conditions
NOI Build-Up for 4,914 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
$100.2K $20.40/SF
− Vacancy
−$5.8K −$1.18/SF
EGI
$94.4K $19.22/SF
− OpEx
−$42.5K −$8.65/SF
NOI
$51.9K $10.57/SF
Area
Greeley, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,038,740
Cap Rate 7%
$741,957
Cap Rate 9%
$577,078
Alternative Uses
Best Use
Apartment 5plus
$742.0K
$649.2K – $865.6K
NOI $51,937 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$895.6K
$783.6K – $1.04M
NOI $62,690 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three homes, RV spaces, and storage on 2.5 acres.
Where is this multifamily property located?
The property is located at 1550 E 18th St Greeley, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Multiple Income Streams: Three homes, 11 RV spaces, and a storage shed offer diverse rental income opportunities.; Large Lot with Commercial Zoning: **2.5 acres zoned C‑1 provides flexibility for various business or development options.**; Highway Accessibility: Located on Highway 34 and 18th Street with access from both streets, ensuring high visibility and convenient access.
