Mixed-Use Building in Downtown
For Sale
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922 8th Ave, Greeley, CO 80631
Mixed-use property with retail/office space and upscale residential apartment.
Property Size6,575 SF
Price / SF$136.12
Days on Market661
Property Features for 922 8th Ave
General Information
Standard status
Active
Size
6,575 SF
Property subtype
Mixed Use
Zoning
C-H Greeley
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Cushman & Wakefield - Fort Collins, Colorado
(970) 776-3900
Listed By:
Cole VanMeveren · License #FA. 100088218
Source:
Crexi
Added: Oct 19, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:16AM
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 Cushman & Wakefield - Fort Collins, Colorado
Investment Insights
Based on property information with market context.
This mixed-use building is located in historic downtown Greeley. The property offers the opportunity to live in the residential apartment while leasing the ground-level retail/office space, or operate a business in the commercial unit and rent out the apartment. The property features high-end finishes. The location provides foot traffic and visibility. Thousands of residents and amenities are within walking distance. The property size is 6575 square feet.
Key Highlights
- Mixed‑use property offers flexible options: live/lease or operate business/rent apartment.
- Prime location in the heart of historic downtown Greeley.
- High‑end finishes throughout the property.
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
$74,312
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
8.30%
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%
$1,486,240
$1.5M
Cap Rate 7%
$1,061,600
$1.1M
Cap Rate 9%
$825,689
$825.7K
Market Conditions
NOI Build-Up for 6,575 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
$118.4K $18.00/SF
− Vacancy
−$12.2K −$1.85/SF
EGI
$106.2K $16.15/SF
− OpEx
−$31.8K −$4.84/SF
NOI
$74.3K $11.30/SF
Area
Greeley, CO
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,486,240
Cap Rate 7%
$1,061,600
Cap Rate 9%
$825,689
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,881 @ 7.0% cap · market cap 9.37%
Second Best
Retail
$1.06M
$928.9K – $1.24M
NOI $74,312 @ 7.0% cap · market cap 8.30%
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
591
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail/office space and upscale residential apartment.
Where is this mixed-use property located?
The property is located at 922 8th Ave Greeley, CO.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Mixed‑use property offers flexible options: live/lease or operate business/rent apartment.; Prime location in the heart of historic downtown Greeley.; High‑end finishes throughout the property.
