257 Johnstown Center DrJohnstown, CO 80534

Property Details for 257 Johnstown Center Dr

Year built

2005

Lot size

2.29 AC

Property size (Sq ft)

27,856 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

R2807604

APU

R2807604

Description

This exceptional 27,856 square foot mixed-use property in Johnstown, Colorado, presents a compelling investment opportunity. Built in 2005, the Class B, two-story building boasts 100% occupancy and a strong pro-forma cap rate of 6.58%. The 24,378 square feet of net rentable space is currently home to 18 diverse businesses, including retail tenants such as two restaurants, a liquor store, café, hair and nail salons, dentists, massage therapy, and H&R Block. The upper level features 5,848 square feet of office space occupied by eight businesses. Located at 257 Johnstown Center Dr, Johnstown, CO 80534, on a 2.295-acre lot, the center offers 125 parking spaces (a 4.49:1,000 sq ft ratio). The property benefits from significant recent improvements, repositioning it as Johnstown's premier business center. The asking price is $5,800,000, translating to $208.21 per square foot. The property features built-in rent bumps and is situated in a rapidly growing area with convenient access to major transportation corridors including I-25, Hwy-60, and Hwy-34. This stabilized investment offers low maintenance and professional management, making it an easy-to-own asset with significant upside potential. The average leasable space size is 1,354 square feet, contributing to a diversified tenant base. Financial records show a pro-forma NOI of $381,387. The property is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $8,252,806

  6.5%

  $7,617,976

  7%

  $7,073,834

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,337,704

  Geo Method

  $3,567,267

• Alternative Use

  Use

  Valuation

  Residential

  $7,617,976

  Hospitality

  $6,978,024

  Educational

  $5,805,634

  Medical

  $6,005,299

  Retail

  $9,030,987

Location Insight

City

Johnstown

County

Weld

State

Colorado

Latitude

40.3336

Longitude

-104.907

CBSA code

24540

CBSA name

GREELEY, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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