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    Downtown Longmont Office Condo Title is generated by Realmo AI

    630 15th Ave, Longmont, CO 80501

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    Office condo in Longmont with owner-occupied potential.

    Type:Office
    Property size:
    18,000 SF
    Price / SF:
    $38/SF
    Added:
    Mar 18, 2023
    Days on Market:
    1178
    Last Refresh:
    May 12 at 10:19 pm

    Property Features for 630 15th Ave

    General Information

    Standard status
    Active
    Size
    18,000 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Aaron Evans

    Listing agent Aaron Evans License #FA.040030294

    Listing office NewOption Partners

    Listing date Mar 18, 2023

    Source Crexi

    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 NewOption Partners

    HighLights

    • Opportunity for owner‑occupied sale of entire 3,364 SF condo.
    • Potential to lease a 1,448 SF office condo in Downtown Longmont.
    • Tenant in place in Suite 100 (1,916 SF) to offset monthly payments.
    • Owner occupancy possible for the entire 3,364 SF with notice to tenant.
    • Seller carry financing available at attractive terms.
    • Located in the heart of Downtown Longmont.

    Overview

    This property offers an opportunity to lease a 1,448 square foot office condo located in downtown Longmont. There is also the possibility of an owner-occupied sale of the entire 3,364 square foot condo. Suite 100, comprising 1,916 square feet, has a tenant in place, which could help offset monthly payments for an owner occupying suite 100A. The owner could occupy the entire 3,364 square feet with reasonable notice to the current tenant in Suite 100. Seller financing is available at attractive terms for an owner-occupant buyer.
    Location Intelligence

    Current Use by Public Records

    Drain Solvers the pros Plumbing Service Shell Center Hair Salon Northern Colorado Endodontics Dental Office Oral & Maxillofacial Surgery: ... Dental Office Dr. Wes Statley Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Longmont
    County
    Weld
    State
    Colorado
    Longitude
    -105.1036142
    Latitude
    40.1851304

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    FAQs

    What type of property is this?
    Office units - Office condo in Longmont with owner-occupied potential.
    Where is this office units located?
    The property is located at 630 15th Ave Longmont, 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: Opportunity for owner‑occupied sale of entire 3,364 SF condo.; Potential to lease a 1,448 SF office condo in Downtown Longmont.; Tenant in place in Suite 100 (1,916 SF) to offset monthly payments.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Aaron Evans
    Real Estate License ID: FA.040030294
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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