Freestanding Three-Tenant Retail
For Sale
Contact for pricing
950 Elgin Avenue, Longmont, CO 80501
Fully leased commercial building with retail, studio, and restaurant uses.
Property Size7,295 SF
Price / SF$225.09
Days on Market51
Property Features for 950 Elgin Avenue
General Information
Standard status
Active
Size
7,295 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Building Details
Tenancy
Multi
Listing Agency:
Prime Commercial Real Estate
Listed By:
Nelson Miner · License #CO FA.001311382
Source:
Crexi
Added: Aug 29
Changed: Oct 14
Last Checked: Oct 16 at 8:52AM
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 Prime Commercial Real Estate
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Investment Insights
Based on property information with market context.
Located at 950 Elgin Avenue, this freestanding retail property contains 7,295 SF and is occupied by three tenants. The current tenant mix includes a retail gaming store, martial arts studio, and restaurant, providing varied commercial uses within one building.
The property sits adjacent to the Safeway Center on Ken Pratt Boulevard with convenient access to the surrounding road network. Reported traffic volume is 36,897 vehicles per day on Ken Pratt Boulevard and 11,535 vehicles per day on South Pratt Parkway. The surrounding 3-mile area includes 34,963 daytime employees.
The property sits adjacent to the Safeway Center on Ken Pratt Boulevard with convenient access to the surrounding road network. Reported traffic volume is 36,897 vehicles per day on Ken Pratt Boulevard and 11,535 vehicles per day on South Pratt Parkway. The surrounding 3-mile area includes 34,963 daytime employees.
Key Highlights
- 7,295 SF freestanding retail building
- Fully leased to three tenants
- Tenant mix includes retail gaming, martial arts, and restaurant uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,310
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,886,200
$2.9M
Cap Rate 7%
$2,061,571
$2.1M
Cap Rate 9%
$1,603,444
$1.6M
Market Conditions
NOI Build-Up for 7,295 SF
Gross rent
$218.9K $30.00/SF
− Vacancy
−$12.7K −$1.74/SF
EGI
$206.2K $28.26/SF
− OpEx
−$61.8K −$8.48/SF
NOI
$144.3K $19.78/SF
Area
Boulder County, CO
Vacancy
5.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,886,200
Cap Rate 7%
$2,061,571
Cap Rate 9%
$1,603,444
Alternative Uses
Best Use
Retail
$2.06M
$1.80M – $2.41M
NOI $144,310 @ 7.0% cap · market cap 8.79%
Second Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,771 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,070 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased commercial building with retail, studio, and restaurant uses.
Where is this retail space located?
The property is located at 950 Elgin Avenue Longmont, CO.
What is the asking price?
The asking price for this property is $1,642,000.
What are key features of this property?
This property features: 7,295 SF freestanding retail building; Fully leased to three tenants; Tenant mix includes retail gaming, martial arts, and restaurant uses
