3001 23Rd AveGreeley, CO 80631

Property Details for 3001 23Rd Ave

Year built

1986

Lot size

8.03 AC

Property size (Sq ft)

87,166 SF

Property type

Individual retail properties

APN

R4483706

APU

R4483706

Description

This exceptional 87,897 square foot shopping center in Greeley, Colorado, presents a compelling value-add opportunity. Anchored by a Tractor Supply and a top-performing Gold's Gym (Colorado's #1 location), this Class B property boasts 100% occupancy and a strong NOI of $764,554, with a pro-forma NOI of $889,554. The property features a 10.6-year lease term (6.5 years remaining), with rent bumps included. Built in 1986 and renovated in 2024, the single-story building sits on an 8.03-acre lot with Commercial zoning. The asking price is $11,300,000 ($128.56/sq ft), offering a 6.77% cap rate and a pro-forma cap rate of 7.87%. Strategically located near Walmart and Sam's Club, with high daily traffic counts (US Hwy 34 and 23rd Avenue), this property benefits from its proximity to the University of Northern Colorado. Significant value-add potential exists through the development of a pad site, with multiple users already expressing interest. Tractor Supply's rent is significantly below the national average, providing exceptional long-term stability. The property features a new 20-year warranty TPO roof for Tractor Supply and a new 10-year warranty TPO roof for Gold's Gym. Lease options are available. This is a rare opportunity to acquire a well-positioned, high-performing retail center with substantial upside potential.

Location Insight

City

Greeley

County

Weld

State

Colorado

Latitude

40.3884

Longitude

-104.717

CBSA code

24540

CBSA name

GREELEY, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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