105 8th Avenue Greeley, CO ^$ 1,575,000

105 8th Avenue

^$ 1,575,000

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105 8th Avenue

Greeley, CO, 80631

^$ 1,575,000

Studio Baths0.0 Sq 6,412

Monthly Estimate*

^$ 10,468

Listed by Jarod Clark Realty LLC

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Studio

Commercial Property for sale in Greeley, CO

for $1,575,000. This 6,412 square foot building was built in 1953.

Seller will carry financing to a qualified buyer $575,000 down, at 5% interest only for a 5-year term. Price reduced. Independent Boutique motel renovated and positioned to capture business entering Greeley from the North. 16 Guest rooms Manager Residence on-site A perfect fit for retiree owners (and their Millennial successors) At dusk the neon sign is seductive. Arching over the rooftop the rainbow-colored sign (which happens to be the motel’s moniker) beckons passersby. On a weekend road trip with no particular timeline other than to get out of the house, the 68-ish couple, six months into retirement, faced what most 65-70-year olds do. The home where they’d raised their children echoed at night with only the two of them sorting through the Instacart delivery. The pandemic had trimmed entertaining to zero. In the last two years of working mostly remotely, they’d gotten adept at Zoom calls and better at saying goodbyes to their friends who had moved on to retirement destinations. The couple caught the vibe. Downsizing to 16 bedrooms at age 65 seems, well, absurd. Until you figure in that the 16 rooms is a boutique motel with a sincerely awesome personal residence behind the lobby doors. When their grown kids return home for holidays, they can block out a couple of guest rooms for as long as they want. Even at this age the two figured they had a good 20+ years of active living to do. Plus, they were building a little family business with serious income to add to their Social Security. And just maybe it will be of interest in perpetuity for one of their kids. Broker owned

Commercial Active

Price

^$ 1,575,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 14,980

Style

Low Rise (1-3)

Year Built

1953

Town/City

Greeley

County/Region

Weld

MLS | Web ID

7705450

Features

General

Sewer Public Sewer

Utilities Cable Available Electricity Available Electricity Connected Internet Access (Wired) Natural Gas Available Natural Gas Connected Phone Available Sewer Connected

Possession Closing/DOD

Roof Membrane Metal

Garage Spaces 0

Security Features Close Circuit Camera(s) Smart Cameras Smoke Detector(s)

Construction Materials Block Brick Concrete

Year Built 1953

Electric 110V 220 Volts Single Phase

Stories 2

Property SubType Multi-Family

Tax Year 2023

Current Use Multi-Family

County Weld

Property Type Commercial Sale

Attached Garage N

Energy Efficient HVAC Lighting Water Heater

Building Features Concierge/Staffed Front Desk Front Desk Laundry Wi-Fi

Status Active

City Greeley

Buyer Agent Compensation 2.5

NumberOfUnitsTotal 16

Carport Spaces 0

Street Name 8th

Listing Terms Cash Conventional Owner Will Carry

Tax Annual Amount 14980

Leasable Area 5412

Structure Type Low Rise (1-3)

Standard Status Active

Occupancy Type Owner

Cap Rate 10

Buyer Agent Compensation Type %

Exterior

Parking Features Asphalt

Lot Features Corner Lot

Water Source Public

Total Parking 16

Building Area Total 6412

Road Surface Type Paved

Road Frontage Type Public

Interior

Street Suffix Avenue

Internal Only

Street Number 1 105

* Excluded Features

List By

Jarod Clark Realty Llc

Broker

(303) 912-0227

Phone

Affordability Calculator

$11,716

Per Month

Monthly Principal & Interest: $10,468
Monthly Property Taxes: $1,248
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Greeley, CO

Average List Price ^$1,124,981

Percent of Sale Price 29%

About Greeley, CO

106,417 Population

35% Since 2002

^$52,022 Median Income

32.9 Median Age

32% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

242254 Elementary School

242425 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/5/2024	$1,575,000		Listed Price

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105 8th Avenue, Greeley, CO, 80631 is a Commercial Property for sale at $1,575,000 with 6,412 sqft. 105 8th Avenue is a studio with 0.0 baths and was built in 1953. The property's zip code is 80631 which is in Greeley, CO

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Data is updated as of 6/2/2024.

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105 8th Avenue

Commercial Property for sale in Greeley, CO

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