Warehouse with Office and
For Sale
$2,354,580
923 A St, Greeley, CO 80631
Refurbished warehouse-manufacturing building with office space, two drive-in doors, and dock-high loading on a sub-acre site.
Property Size11,430 SF
Lot Size0.82 Acres
Price / SF$206
Days on Market151
Property Features for 923 A St
General Information
Standard status
Active
Size
11,430 SF
Lot size
0.82 Acres
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
5
Drive-In Doors
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$21,792
Building Details
Building Size
11,430 SF
Year Built
1961
Listing Agency:
Waypoint Real Estate
Listed By:
Brian Smerud · License #100042149
(970) 415-0538
Source:
Elliman
Added: Apr 11
Changed: Aug 26
Last Checked: Sep 7 at 7:57AM
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 Waypoint Real Estate
Investment Insights
Based on property information with market context.
This rare warehouse/manufacturing facility includes a total of 11,430 SF comprised of 1,620 SF of office space and 9,810 SF of warehouse area, along with an additional 1,200 SF mezzanine above the office that is not included in the stated total. The property features two large drive-in doors and five dock-high doors, with the entire .82-acre site refurbished inside and out.
The facility is located just east of downtown Greeley and close to the DoubleTree Hotel, Convention Center, and Island Grove Regional Park. Easy access is noted to US 85 and US 34.
The offering comprises the structures at 923 and 937 A Street, Greeley, CO 80631.
The facility is located just east of downtown Greeley and close to the DoubleTree Hotel, Convention Center, and Island Grove Regional Park. Easy access is noted to US 85 and US 34.
The offering comprises the structures at 923 and 937 A Street, Greeley, CO 80631.
Key Highlights
- Warehouse/manufacturing facility totaling 11,430 SF: 1,620 SF office and 9,810 SF warehouse
- Additional 1,200 SF mezzanine above the office (not included in the 11,430 SF total)
- Loading features include two large drive‑in doors and five dock‑high doors
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
$127,500
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
5.41%
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%
$2,550,000
$2.6M
Cap Rate 7%
$1,821,429
$1.8M
Cap Rate 9%
$1,416,667
$1.4M
Market Conditions
NOI Build-Up for 11,430 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
$163.2K $14.28/SF
− Vacancy
−$13.2K −$1.16/SF
EGI
$150.0K $13.12/SF
− OpEx
−$22.5K −$1.97/SF
NOI
$127.5K $11.15/SF
Area
Greeley, CO
Vacancy
8.10%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$2,550,000
Cap Rate 7%
$1,821,429
Cap Rate 9%
$1,416,667
Alternative Uses
Best Use
Warehouse
$1.82M
$1.59M – $2.13M
NOI $127,500 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$2.08M
$1.82M – $2.43M
NOI $145,818 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Willie's Grain Inc — 816 8th St, Greeley, CO 80631, United States
- Self Storage — 825 9th St, Greeley, CO 80631
- Stuff-it Storage — 620 4th Ave, Greeley, CO 80631
- Safe & Secure Storage — 1015 3rd St, Greeley, CO 80631
Frequently Asked Questions
What type of property is this?
Warehouse - Refurbished warehouse-manufacturing building with office space, two drive-in doors, and dock-high loading on a sub-acre site.
Where is this warehouse located?
The property is located at 923 A St Greeley, CO.
What is the asking price?
The asking price for this property is $2,354,580.
What are key features of this property?
This property features: Warehouse/manufacturing facility totaling 11,430 SF: 1,620 SF office and 9,810 SF warehouse; Additional 1,200 SF mezzanine above the office (not included in the 11,430 SF total); Loading features include two large drive‑in doors and five dock‑high doors
