1901 56Th AveGreeley, CO 80634

Property Details for 1901 56Th Ave

Year built

1996

Lot size

1.39 AC

Property size (Sq ft)

21,581 SF

Property type

Office buildings

APN

R6905398

APU

R6905398

Description

This exceptional multi-tenant professional office building, situated at 1901 56th Ave in Greeley, Colorado, presents a compelling investment opportunity. Spanning 21,581 square feet and encompassing 1.39 acres of land, the property enjoys a highly desirable location in west Greeley, offering convenient access to a vibrant mix of restaurants, retail establishments, residential areas, recreational facilities, and essential public amenities. Currently, the building houses three established tenants, demonstrating strong occupancy and rental income potential. A significant advantage is the availability of a vacant lower-level space, presenting an immediate opportunity to increase revenue streams through leasing to a new tenant. The building's strategic placement along W. 20th Street ensures high visibility and accessibility for both tenants and clients. This property is ideally suited for investors seeking a stable, income-generating asset in a thriving Colorado community. The substantial square footage and ample land provide flexibility for future expansion or redevelopment, further enhancing its long-term value. The existing tenant base provides a solid foundation for continued success, while the vacant space offers immediate potential for growth. This is a rare opportunity to acquire a well-located, multi-tenant commercial property in a rapidly developing area. The combination of existing income and expansion potential makes this an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $5,156,236

  6.5%

  $4,759,602

  7%

  $4,419,631

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,666,909

  Geo Method

  $1,783,022

• Alternative Use

  Use

  Valuation

  Residential

  $5,901,907

  Hospitality

  $5,406,115

  Educational

  $4,497,824

  Medical

  $4,652,512

  Retail

  $6,996,616

Location Insight

City

Greeley

County

Weld

State

Colorado

Latitude

40.4074

Longitude

-104.771

CBSA code

24540

CBSA name

GREELEY, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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