Versatile Commercial Space For
For Sale
$220,000
Pending
912 39th, Evans, CO 80620
2,400 SF commercial space suitable for various uses.
Property Size2,400 SF
Lot Size0.10 Acres
Days on Market281
Property Features for 912 39th
General Information
Standard status
Pending
Size
2,400 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,217
Amenities
Corner Lot
Metal Roof
City Limits
Fire Hydrant within 500 Feet
Gutters
Level
Level Lot
Loading: Drive-in overhead doors
Paved
Sidewalks
Suspended Heating
Building Details
Year Built
1884
Listing Agency:
RE/MAX Comm. Alliance-Greeley
(970) 330-5000
Listed By:
GARY HOGAN · License #FA100068550
Source:
Corcoran
Added: Nov 4, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:07AM
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 RE/MAX Comm. Alliance-Greeley
Investment Insights
Based on property information with market context.
This 2,400 square foot commercial space is currently configured as two units but can be combined into one larger space. It features a 12-foot overhead door on the west side and a new 10-foot overhead door on the east side. The west side unit is equipped with suspended gas heat and includes one bathroom. The property is zoned RC (Residential Commercial), which allows for a variety of uses. Prospective buyers should confirm their intended use with the City.
Key Highlights
- 2,400 SF of flexible space, perfect for residential or commercial use.
- Zoned RC (Residential Commercial) – buyer to confirm potential uses with the City.
- Potential to combine two existing units into one larger space.
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
$19,870
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
9.03%
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%
$397,400
$397.4K
Cap Rate 7%
$283,857
$283.9K
Cap Rate 9%
$220,778
$220.8K
Market Conditions
NOI Build-Up for 2,400 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
$33.1K $13.80/SF
− Vacancy
−$2.6K −$1.06/SF
EGI
$30.6K $12.74/SF
− OpEx
−$10.7K −$4.46/SF
NOI
$19.9K $8.28/SF
Area
Weld County, CO
Vacancy
7.70%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$397,400
Cap Rate 7%
$283,857
Cap Rate 9%
$220,778
Alternative Uses
Best Use
Office B
$437.4K
$382.7K – $510.3K
NOI $30,618 @ 7.0% cap · market cap 13.92%
Second Best
Retail
$387.5K
$339.1K – $452.1K
NOI $27,125 @ 7.0% cap · market cap 12.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80620, CO
20,975
Population
6,794
Households
3.1
Avg Household Size
30
Median Age
20%
College-Educated
81%
High-School Grad
5.9 sq mi
ZIP Area
3,555
Density / Sq Mi
$71,410
Median Household Income
$40,446
Median Earnings
$1,463
Median Rent
$315,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 2,400 SF commercial space suitable for various uses.
Where is this flex space located?
The property is located at 912 39th Evans, CO.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,400 SF of flexible space, perfect for residential or commercial use.; Zoned RC (Residential Commercial) – buyer to confirm potential uses with the City.; Potential to combine two existing units into one larger space.
