3001 S 23rd Ave 87,897 SF 100% Leased Retail Building Greeley, CO 80631 $11,365,000 ($129.30/SF) 6.69% Cap Rate

The Snyder Carlton Team is pleased to offer investors the opportunity to acquire a two-tenant retail asset occupied by Tractor Supply Co and Gold’s Gym in Greeley, CO. Both Tenants are high performing at the subject property with the Gold’s Gym ranking in the top 5% nationwide and the Tractor Supply ranking top 25% in Colorado. The property is being offered well below replacement cost at $129 psf. Golds Gym recently extended their lease term to over 10 years while Tractor Supply has a short-term lease with annual rent well below market at $5.05 psf providing future upside. The property also has a new roof with long term warranties in place.
The property is located near the University of Northern Colorado which has approximately 9,800 students enrolled. The City of Greeley is ranked #1 for growth in the state with numerous residential projects planned to include the Catalyst / Cascadia Project. This planned master planned development just west of the subject property includes a potential 1,000-acre, $1.1 billion project anchored by a new Colorado Eagles hockey arena (expected 2028), a water park, hotel, and restaurant district. The development will include over 6,000 to 11,000 new housing units. The 87,897 SF building on approximately 8.86 acres is positioned at 23rd Avenue (25,900 VPD) and U.S. Route 34 (CR56) which sees over 41,700 VPD and is one of the region’s busiest thoroughfares. The property sits adjacent to the Greeley Mall and across from Walmart Supercenter and Sam’s Club. The surrounding area is densely populated with over 147,900 within 5 Mile Radius.