Current Use by Public Records
- Warehouses
Property Details for 6766 Co Rd
- Year built
- 1968
- Lot size
- 14.87 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional value-add industrial investment opportunity in Johnstown, Colorado, presents a compelling case for astute investors. The property, located at 6766 Co Rd 18, encompasses a substantial 14.87 acres and features a 32,168 square foot warehouse complex, built in 1968 and renovated in 2000. The property is zoned I - Industrial Larimer County. Currently, the occupancy rate stands at 50%, with a multi-tenant configuration. The North Complex, totaling 16,151 square feet, is leased to Fiske Electric under a 10-year NNN lease at $12.62 per square foot, including a 4% annual rent bump. The South Complex comprises 16,017 square feet of warehouse space, currently leased at $9.00 per square foot NNN. There's also 6,570 square feet of immediately available warehouse space for lease. Furthermore, the property includes 7.5 acres (326,700 square feet) of outside storage, currently leased at $0.50 per square foot, with 6.5 acres currently available. The asking price is $6,700,000, representing a price per square foot of $208. The property boasts a pro-forma NOI of $516,687 and a pro-forma cap rate of 7.70%. Ceiling heights reach up to 18 feet. This property offers significant upside potential through lease-up and rent increases. The strong location near I-25 provides excellent accessibility and transportation advantages.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Johnstown
- County
- Larimer
- State
- Colorado
- Longitude
- -104.979
- Latitude
- 40.3777
