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    3620 35Th Ave Evans, CO 80620
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    3620 35Th Ave, Evans, CO 80620

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    • Retail properties & Spaces
    • 3,764 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3620 35Th Ave

    Year built
    2004
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional investment opportunity presents two adjacent condo units totaling 3,764 square feet, which must be purchased together. Located at 3620 35th Ave in Evans, Colorado (zip code 80620), this property offers a versatile blend of retail, office, and industrial space, perfectly suited for a variety of businesses. Built in 2004, the building boasts a desirable C-1 zoning designation within the City of Evans. A key feature is the south-facing end-cap unit, which includes a convenient drive-thru window, ideal for quick service operations or businesses requiring customer pick-up. The property also includes a 952 square foot mezzanine level, providing valuable additional office or storage space. The asking price is $695,000, translating to $184.64 per square foot. Rear delivery access is available, and the addition of an overhead door is a feasible option for enhanced logistical efficiency. This property's combination of location, features, and zoning makes it an attractive investment prospect in a thriving Colorado market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Evans
    County
    Weld
    State
    Colorado
    Longitude
    -104.734
    Latitude
    40.3789

    Comparable in this City

    • Value Estimation
      $800,000
      7,200 SF

      3961 Service Rd

      CONDOMINIUM OFFICES
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    • Value Estimation by Request
      2,800 SF

      3971 Service Rd

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      3971 Service Rd, Evans, CO 80620-2632
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    • Value Estimation
      $9,930,000
      101,470 SF

      3001 8th Ave, Unit 3

      CONDOMINIUM OFFICES
      3001 8th Ave, Evans, CO 80620-1201
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    • Value Estimation by Request
      1,600 SF

      3981 Service Rd

      CONDOMINIUM OFFICES
      3981 Service Rd, Evans, CO 80620
      View Details
    • Value Estimation
      $2,620,000
      16,975 SF

      3001 8th Ave

      CONDOMINIUM OFFICES
      3001 8th Ave, Evans, CO 80620-1201
      View Details
    • Value Estimation
      $4,630,000
      46,438 SF

      2930 11th Ave

      CONDOMINIUM OFFICES
      2930 11th Ave, Evans, CO 80620-1011
      View Details

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    • $1,500,000

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      Spacious industrial property with a 5,943 SF metal building.
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      Evans Office Building with Garage

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    Similar Nearby for Lease

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      2,400 SF

      Restaurant/Bar Space Available for Lease

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      Retail Space Available For Rent

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      1,280 SF

      Evans Retail Space For Lease

      Prime retail space with drive-thru, patio, and tenant improvement allowance.
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    • Contact for pricing

      Small-Bay Industrial Warehouse For Lease

      Small-bay industrial warehouse with customizable space and ample access.
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    • Contact for pricing

      Neighborhood Retail Strip For Lease

      Retail space available in neighborhood strip center off 35th Avenue.
      3313 35Th Ave, Evans, CO 80620
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    • Contact for pricing

      Prime Commercial Land for Lease

      18-acre site with high visibility and planned amenities.
      37Th St, Evans, CO 80620
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    3620 35Th Ave
    Evans, CO 80620
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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
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