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    8750 20Th St Greeley, CO 80634

    Sponsored
    For Sale
    $6,900,000

    West Greeley Office, High NOI Potential

    Property size:
    61,924 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 61,924 square foot, two-story Class B office building in Greeley, Colorado, presents a compelling investment opportunity. Situated on 8.145 acres at 8750 W 20th St, this property boasts a prime location with excellent highway visibility and access via Highway 34, 83rd, and 95th Avenues. Currently 70% occupied by strong credit tenants, Food Safety Net Services and CPS Distributors, with long-term leases, this building offers significant upside potential. Recently renovated in 2017 and 2022, the property features a new façade, parking lot, landscaping, and a modern vestibule with an elevator. The first floor is fully leased, while the second floor is in core and shell condition, providing a blank canvas for a new tenant. The flexible layout caters to various uses, including corporate headquarters, light lab space, or professional offices. Amenities include 137 parking spaces, a fenced yard, and fantastic mountain views from the second floor. The property's location offers convenient access to I-25 (12 minutes) and Highway 85 (16 minutes), further enhancing its appeal. The building's permitted zoning is PUD, City of Greeley. The asking price is $6,900,000, with a current NOI of $282,296 and a pro-forma NOI of $544,665. Monument and building signage opportunities are available. This is an ideal investment for owner-users seeking additional income or investors looking for strong returns.

    Property Features for 8750 20Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    61,924 SF
    Class
    B
    Lot Size
    354,796 SF

    Building Details

    Year Built/Renovated
    1974/2017
    Stories
    2

    We can help!

    Listing Contact
    Mark Bradley, CCIM, SIOR
    Mark Bradley, CCIM, SIOR

    Learn more

    Property Insight Report

    HighLights

    • $6,900,000 asking price for a 61,924 SF Class B office building on 8.145 acres in Greeley, CO.
    • Recently renovated (2017 & 2022) 61,924 SF flex building with 137 parking spaces, offering a full floor of vacant office space.
    • High‑visibility location on Highway 34, with easy access via 83rd or 95th Avenue, 12 minutes from I‑25 and 16 minutes from Highway 85.
    • 70% occupancy with strong credit tenants (FSNS and CPS Distributors) on long‑term leases; flexible layout options and potential for significant upside.
    • Monument and building signage available; amenities include a fenced yard and a newly renovated vestibule with elevator.
    Property Profile Location Intelligence

    Current Use by Public Records

    JRL Drywall Construction Material Wholesaler CPS Distributors Irrigation Equipment Supplier Food Safety Net ... Laboratory

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Skin Care Clinic Accounting Firm Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.82016114
    Latitude
    40.40689234

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    FAQs

    What type of property is this?
    Office Property / Space - West Greeley Office, High NOI Potential
    Where is this office property / space located?
    The property is located at 8750 20Th St Greeley, CO.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: $6,900,000 asking price for a 61,924 SF Class B office building on 8.145 acres in Greeley, CO.; Recently renovated (2017 & 2022) 61,924 SF flex building with 137 parking spaces, offering a full floor of vacant office space.; High-visibility location on Highway 34, with easy access via 83rd or 95th Avenue, 12 minutes from I-25 and 16 minutes from Highway 85.
    Request Owner's contact information
    8750 20Th St Greeley, CO 80634
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    Greeley, CO 80634
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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
    8750 20Th St Greeley, CO 80634
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    We can help!
    Listing Contact
    Mark Bradley, CCIM, SIOR
    Mark Bradley, CCIM, SIOR
    Real Estate License ID: CO 40015162
    Learn more
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