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    1650 29Th Avenue Pl Greeley, CO 80634
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    1650 29Th Avenue Pl Greeley, CO 80634

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    • Commercial real estate
    • 14,031 SF
    For Sale
    $2,500,000
    View Listing →
    Renovated Multifamily Asset in Greeley For Sale
    $2,500,000
    14,031 SF

    Renovated Multifamily Asset in Greeley

    Newly renovated multifamily property in West Greeley with strong cap rate.

    1650 29th Avenue Place |, Greeley, CO 80634
    View Listing
    Property ID
    US13-0634249
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chateau Terrace Apartments / Apartment Complex

    Property Details for 1650 29Th Avenue Pl

    Year built
    1979
    Property size
    14,031 SF
    Property type
    Commercial real estate

    Description

    This meticulously renovated 13-unit apartment building, Chateau 29, is situated in West Greeley, Colorado, at 1650 29th Ave Pl, 80634. Built in 1979, this three-story building boasts 14,031 square feet on a 23,444 square foot lot. The property features a mix of unit types including one studio, two one-bedroom/one-bathroom units, and ten spacious two-bedroom/one-and-a-half-bathroom units. Recent upgrades include a new roof, resurfaced parking lot, upgraded boiler, fresh exterior paint, renovated stairwells, and updated landscaping. Interior renovations are equally impressive, with each unit showcasing high-end stainless steel appliances, quartz countertops, new bathrooms, recently replaced windows and flooring, and in-unit laundry facilities. The property offers a compelling investment opportunity with a current NOI of $150,356 and a pro-forma NOI of $171,161, translating to a current cap rate of 5.57% and a pro-forma cap rate of 6.34%. The asking price is $2,700,000, representing a price per unit of $207,692.31 and a price per square foot of $192.43. Its prime location provides easy access to major highways, diverse retail and business districts, parks, and entertainment options. This property presents a strong value proposition for investors seeking a well-maintained, high-performing multifamily asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.7280486293
    Latitude
    40.413352237517

    Comparable in this City

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      30,188 SF

      Greeley Multifamily Investment Opportunity

      Well-maintained 40-unit apartment complex in Greeley, Colorado.
      2435 W 11Th St, Greeley, CO 80634
      View Details
    • $2,500,000

      Renovated Multifamily Asset in Greeley

      Newly renovated multifamily property in West Greeley with strong cap rate.
      1650 29Th Avenue Pl, Greeley, CO 80634
      View Details
    • $1,529,000

      Greeley Multifamily Investment Opportunity

      Eight-unit apartment building in Greeley, Colorado, with 4.37% CAP rate.
      3014 7Th Street Rd, Greeley, CO 80634
      View Details
    • Contact for pricing
      Pending

      Fully Leased Investment Opportunity

      Four-unit property with steady cash flow and long-term tenants.
      1140 26Th Avenue Ct, Greeley, CO 80634
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,188 SF

      Greeley Multifamily Investment Opportunity

      Well-maintained 40-unit apartment complex in Greeley, Colorado.
      2435 W 11Th St, Greeley, CO 80634
      View Details
    • $2,500,000

      Renovated Multifamily Asset in Greeley

      Newly renovated multifamily property in West Greeley with strong cap rate.
      1650 29Th Avenue Pl, Greeley, CO 80634
      View Details
    • $1,529,000

      Greeley Multifamily Investment Opportunity

      Eight-unit apartment building in Greeley, Colorado, with 4.37% CAP rate.
      3014 7Th Street Rd, Greeley, CO 80634
      View Details
    • Contact for pricing
      Pending

      Fully Leased Investment Opportunity

      Four-unit property with steady cash flow and long-term tenants.
      1140 26Th Avenue Ct, Greeley, CO 80634
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Central Greeley

      Retail space for lease in central Greeley, Colorado.
      2700 W 10Th St, Greeley, CO 80634
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available for rent, 2,140 SqFt.
      2914 67Th Avenue Ct, Greeley, CO 80634
      View Details
    • $16 SF/Yr
      1,862 SF

      Versatile Office/Medical Space Available

      Adaptable office space suitable for medical or general use.
      1620 25Th Ave, Greeley, CO 80634
      View Details
    • Contact for pricing

      Permit-Ready Lot in West Greeley

      Platted commercial land suitable for office, retail, and medical uses.
      1835 61St Avenue Ct, Greeley, CO 80634
      View Details
    • $27 SF/Yr
      1,519 SF

      Restaurant Space in Hillcrest Center

      Full-service restaurant space available for lease in West Greeley.
      5750 W 10Th St, Greeley, CO 80634
      View Details
    View Listing
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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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    1650 29Th Avenue Pl, Greeley, CO, 80634
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