Woodbriar Place | 1610 29th Ave Pl
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Woodbriar Place 1610 29th Ave Pl
8,120 SF 100% Leased Office Building Greeley, CO 80634 $1,100,000 ($135/SF) 8.08% Cap Rate
Investment Highlights
- Strong in-place income from three new leases provides stability while finishing lease up of the last remaining space
- $88,826 Net Operating Income in Year 1 of Pro Forma with lease up of last remaining space (suite 100), and garage / storage space
- Well positioned asset with high quality finishes, and a solid tenant mix
- All NNN lease structures at $12.50/SF on 3-year terms with 3% increases and renewal options
- Cohesive medical tenant mix is perfect for this building and location in Greeley
- Recently updated suites providing little need for tenant improvement allowance at lease roll-over
Executive Summary
LC Real Estate Group is pleased to offer this opportunity to purchase this 8,120SF multi-tenant office building in central Greeley. Current tenant(s) include Health Psychology Associates, Consultant's for Children, Inc., and Community Advantage Inc. Built in 1978, and updated since construction, the building is conveniently located in central Greeley just off of 16th Street and 29th Avenue Place, between nearby Bittersweet Park and Banner North Colorado Medical Center. This well-appointed two-story office building is elevator served and features mature landscaping, a garage/storage space, and two east facing balconies, making it a unique find in central Greeley for any investor looking for a small, easy to manage investment opportunity.
Data Room Click Here to Access
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
8,120 SF
Building Class
B
Year Built
1978
Price
$1,100,000
Price Per SF
$135
Cap Rate
8.08%
NOI
$88,880
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,120 SF
Slab To Slab
13’
Building FAR
0.36
Land Acres
0.52 AC
Zoning
PUD
Parking
30 Spaces (3.82 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Four private offices/treatment rooms. Conference room. Reception area/work area. New paint and flooring.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 100 | 1,538 SF | Office | - | 30 Days |
1st Fl-Ste 100
| Size |
| 1,538 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
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1st Fl-Ste 100
| Size | 1,538 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
Four private offices/treatment rooms. Conference room. Reception area/work area. New paint and flooring.
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PROPERTY TAXES
| Parcel Number | R0270793 | Improvements Assessment | $292,260 |
| Land Assessment | $36,230 | Total Assessment | $328,490 |
PROPERTY TAXES
Parcel Number
R0270793
Land Assessment
$36,230
Improvements Assessment
$292,260
Total Assessment
$328,490
-
Rico Devlin -
Nathan Klein -
LC Real Estate Group LLC
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Woodbriar Place | 1610 29th Ave Pl
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