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    Property profile & analytics

    1641 23Rd Ave Greeley, CO 80634

    • Retail space
    • 14,406 SF
    • 2.24 lot acres
    For Sale
    View listing
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0826885
    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

    • Walgreens Photo / Photo Shop / Passport Photo Processor
    • Donald L. Kautz, RPh / Pharmacy
    • FedEx OnSite / Mailing Service
    • Walgreens / Drug Store / Beauty Supply Store
    • BMO - ATM / Atm

    Property Details for 1641 23Rd Ave

    Year built
    2006
    Lot size
    2.24 lot acres
    Property size
    14,406 SF
    Property type
    Retail space
    APN
    R3919605
    APU
    R3919605

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,715,000
      6.5%
      $2,505,000
      7%
      $2,325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,385,000
      Market price range: $552k - $2.11M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,975,000
      Current use
      RESTAURANT
      $2,755,000
      Change: -7% Conversion: Easy
      OFFICE BUILDING
      $2,655,000
      Change: -11% Conversion: Easy
      MEDICAL BUILDING
      $2,405,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.717
    Latitude
    40.4127
    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
    $65,956
    $156,860
    $667,100
    $823,960
    -
    $562,206
    $2,391,024
    $2,953,230

    Comparable in this City

    • Value Estimation
      $10,985,000
      75,588 SF

      2100 35th Avee

      RETAIL STORES (PERSONAL SERVICES) • 75,588 SF
      2100 35th Avee, Greeley, CO 80634-3910
      View Details
    • Value Estimation
      $575,000
      6,160 SF

      3621 10th St

      RETAIL STORES (PERSONAL SERVICES) • 6,160 SF
      3621 10th St, Greeley, CO 80634-1865
      View Details
    • Value Estimation
      $9,770,000
      114,213 SF

      2815 35th Ave

      RETAIL STORES (PERSONAL SERVICES) • 114,213 SF
      2815 35th Ave, Greeley, CO 80634-9421
      View Details
    • Value Estimation by Request
      1,821 SF

      1919 65th Ave Ste, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 1,821 SF
      1919 65th Ave Ste, Greeley, CO 80634-7965
      View Details
    • Value Estimation
      $900,000
      6,792 SF

      3025 10th St

      RETAIL STORES (PERSONAL SERVICES) • 6,792 SF
      3025 10th St, Greeley, CO 80634-5334
      View Details
    • Value Estimation
      $1,290,000
      14,400 SF

      3607 10th St

      RETAIL STORES (PERSONAL SERVICES) • 14,400 SF
      3607 10th St, Greeley, CO 80634-1820
      View Details

    Similar Nearby for Sale

    • $2,200,000
      2,060 SF

      Verizon Store Investment Opportunity

      Partially developed pad site in desirable shopping center.
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    • $4,400,000
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      Cottonwood Square: Greeley Retail Center

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      Retail Pad Site For Sale

      Retail pad site for sale or ground lease in Greeley.
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    • $5,000,000
      14,440 SF

      Greeley Retail Property For Sale

      NNN leased retail property with long-term income in Greeley, CO.
      1641 23Rd Ave, Greeley, CO 80634
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    • $525,000
      1,500 SF

      Greeley Retail Building - $525K

      Prime Greeley retail space, 1500 sq ft, 24 parking spaces.
      2800 10Th St, Greeley, CO 80634
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    • $415,000
      1,500 SF

      Retail Property in Greeley, Colorado

      Retail property for sale with 1,500 square feet of space.
      2800 W 10Th St, Greeley, CO 80634
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,624 SF

      Retail Space in Greeley Development

      New retail spaces for lease in Greeley's Center Place.
      2450 W 24Th Street Rd, Greeley, CO 80634
      View Details
    • Contact for pricing
      11,178 SF

      Greeley Retail Space Available

      11,178 SF retail space available in Greeley, Colorado.
      4743 W 29Th St, Greeley, CO 80634
      View Details
    • $12 SF/Yr
      2,633 SF

      Retail Space at Willow Station

      Retail space for lease in Greeley, Colorado shopping center.
      2305-2401 W 27Th St, Greeley, CO 80634
      View Details
    • $15 SF/Yr
      7,013 SF

      Greeley Retail/Office Space Available

      Retail or office spaces in high-traffic Greeley location.
      2627 W 10Th St, Greeley, CO 80634
      View Details
    • Contact for pricing

      Retail Buildings with Drive-Thru

      Two proposed retail buildings with drive-thru, divisible to 1,000 SF.
      11701 West 24Th Street Rd, Greeley, CO 80634
      View Details
    • Contact for pricing
      5,125 SF

      Retail Building on 1.48 Acres

      5,125 SF retail building available for lease.
      921 30Th Ave, Greeley, CO 80634
      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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