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    Property profile & analytics

    1610 29Th Avenue Pl Greeley, CO 80634

    • Office buildings
    • 8,120 SF
    • 0.52 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1014031
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dawn Jewell LP / Physician / Medical Clinic
    • Daniel L. Bruns, PsyD / Physician / Medical Clinic
    • Dubynsky Orest MD / Pediatrician / Medical Clinic
    • Constance Alford, LCSW / Foster Care Service / Social Service Agency
    • Aggie Pediatrics / Physician

    Property Details for 1610 29Th Avenue Pl

    Year built
    1978
    Lot size
    0.52 lot acres
    Property size
    8,120 SF
    Property type
    Office buildings
    APN
    R0270793
    APU
    R0270793

    Description

    This exceptional 8,120 square foot, two-story office building in Greeley, Colorado presents a compelling value-add investment opportunity. Located at 1610 29th Ave Pl, this property boasts a prime location near Bittersweet Park and Banner North Colorado Medical Center. Built in 1978 and renovated in 2020, the building features a desirable mix of medical and creative office tenants, currently at 50% occupancy. The property includes four units, elevator service, mature landscaping, a garage/storage space, and two east-facing balconies. The asking price is $1,100,000, representing a compelling $135.47 per square foot and an 8.08% cap rate. The property sits on a 0.519-acre lot with Planned Unit Development (PUD) zoning. Parking is provided at a ratio of 4 spaces per 1,000 square feet. Leases are structured as NNN, with corporate guarantees, three-year terms, and 3% annual rent bumps. The current net operating income (with lease-up of the remaining space) projects to $88,826 in year one. This well-maintained building offers a strong foundation for future growth and income generation, with potential for expansion given an adjacent lot is also available for purchase. The property's cohesive medical tenant mix and recent updates minimize the need for tenant improvement allowances. This is an ideal investment for owner-users seeking a stable, manageable asset with significant upside potential. The property's APN is 095912334009.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,840,000
      6.5%
      $1,700,000
      7%
      $1,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,323,000
      Market price range: $1.02M - $1.89M
      AI Estimate
      $1,002,000
      Market price range: $543k - $1.92M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,495,000
      Current use
      RETAIL STORES
      $1,675,000
      Change: +12% Conversion: Moderate
      RESTAURANT
      $1,555,000
      Change: +4% Conversion: Moderate
      MEDICAL BUILDING
      $1,355,000
      Change: -9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,280,000
      Change: -14% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.728
    Latitude
    40.4143
    CBSA code
    24540
    CBSA name
    GREELEY, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,888
    $36,230
    $292,260
    $328,490
    -
    $129,869
    $1,047,531
    $1,177,400

    Comparable in this City

    • Value Estimation by Request
      1,056 SF

      808 23rd Ave

      OFFICE BUILDING • 1,056 SF
      808 23rd Ave, Greeley, CO 80634-5922
      View Details
    • Value Estimation
      $4,040,000
      23,455 SF

      3459 20th St

      OFFICE BUILDING • 23,455 SF
      3459 20th St, Greeley, CO 80634-6549
      View Details
    • Value Estimation
      $745,000
      4,000 SF

      8217 20th St

      OFFICE BUILDING • 4,000 SF
      8217 20th St, Greeley, CO 80634-3033
      View Details
    • Value Estimation
      $850,000
      4,000 SF

      8213 20th St

      OFFICE BUILDING • 4,000 SF
      8213 20th St, Greeley, CO 80634-4694
      View Details
    • Value Estimation
      $1,130,000
      5,318 SF

      5118 20th St

      OFFICE BUILDING • 5,318 SF
      5118 20th St, Greeley, CO 80634-3159
      View Details
    • Value Estimation
      $850,000
      4,000 SF

      7251 20th St, Unit B

      OFFICE BUILDING • 4,000 SF
      7251 20th St, Greeley, CO 80634-4626
      View Details

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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
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