Locust Park Professional Offices 2 Office Properties Offered at $1,495,045 in Loveland, CO

Colorado Commercial is pleased to present the Locust Park Professional Offices, a two-building, multi-tenant office investment located in the heart of Midtown Loveland, Colorado. This offering provides investors with stable in-place income, below-market rents, and significant near-term upside through lease renewals and lease-up of existing vacancy.
The property consists of 12,752 SF across two buildings situated on a 43,470 SF site, positioned just one block north of Highway 34 (Eisenhower Blvd), a major east-west corridor serving Northern Colorado.
With 90.20% occupancy, predominantly NNN lease structures, and all leases rolling within 24 months, investors are uniquely positioned to reset rents to market and drive NOI growth in a supply-constrained office submarket.
1966 W 15th Street & 2004 W 15th Street. The Buildings are adjacent and share a parking lot. They properties have been owned by the same individuals since 2002.
1966 W 15th Street is a fully leased office building of approximately 5,198 square feet configured into 6 suites with office sizes ranging from 400 square feet to 1,280 square feet. There is no shared common area in this building. All suites are self-contained. Most of the suites are under a triple net lease with base rents ranging from $2.21/ sq. ft. to $12.36/ sq. ft. (based on triple net expenses of $7.56). Most tenants have been occupants for over 5 years with renewal rates based on market rent. All leases are due for renewal.
2004 W 15th Street is a 83.45% leased office building of approximately 7,554 square feet configured into 7 suites with office sizes ranging from 675 square feet to 1,388 square feet. Common Area makes up approximately 1,031 square feet or a load factor of 15%. Suite 6 consisting of 1,250 square feet is currently vacant. Most of the suites are under a triple net lease with base rents ranging from $4.44/ sq. ft. to $10.25/ sq. ft. (based on triple net expenses of $7.56). Most tenants have been occupants for over 5 years with renewal rates at market rent. Two leases are due for renewal, the balance of renewals are in 2026. Note: Suite 1 of 1,315 square feet has been leased to the Girl Scouts of Colorado at a loss of $153 per month when factoring in triple net expenses. That lease expires 9/30/2026.
The buildings must be sold together. The list Price is $1,495,000 or $117.24 per square foot for both buildings combined.
The owners are general contractors who have maintained the property and remodeled suites as they became vacant. Most have been remodeled in the last 5 years.