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Keenesburg, CO

525 East Railroad Avenue

Address:
525 East Railroad Avenue, Keenesburg, CO 80643
Property Type:
Vacant
Price:
$875,000
Square Feet:
19,200 sqft
Lot Size:
2.11 acres
Price Per Square Foot:
$45.57
Year Built:
1945
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Investment Highlights

Investment Highlights

Investment Highlights

• Vacant Single-Tenant Industrial Property on 2+ Acres
• Property Offers an 18-Car BNSF Rail Spur, 5 Dock-High Doors, and 2 Drive-In Doors
• Accessible Location Less Than 1 Mile from I-76
• 40 Minute Drive to Greeley, Fort Morgan, and Denver
• Newly Installed/Upgraded Electrical and Security System
• Property Includes 515 Square Feet of Covered Outdoor Storage
• Desirable Weld County Industrial Market with Average Rents Nearly $11/SF

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 525 East Railroad Avenue in Keenesburg, Colorado. The subject property consists of approximately 19,200 square feet of space and is situated on 2.11 acres of land. The vacant asset features an 18-car BNSF rail spur, five dock-high doors, two drive-in doors, and a newly installed/upgraded electrical and security system. The subject property includes 515 square feet of covered outdoor storage and is located in the desirable Weld County Industrial Market with average rents nearly $11 per square foot. A 40-minute drive to Greeley, Fort Morgan, and Denver, the property is in an accessible location less than one mile from I-76.

Weld County is a very large submarket, containing roughly 25.9 million square feet of industrial space. The local industrial market has remained relatively stable considering the recent turmoil, though the vacancy rate has softened by three percent over the past four quarters. Over the past five years, the submarket has posted net absorption of about 310,000 square feet per year, on average. Rents increased by 2.1 percent over the past year, firmly in the green. The 530,000 square feet currently underway in Weld County represents two percent of inventory. This represents a continuation of new development in the submarket, which had already seen 1.8 million square feet deliver over the past three years, representing an inventory expansion of 7.3 percent. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years. (CoStar).

Keenesburg has a population of approximately 1,200 people and is located along the growing I-76 corridor, with Denver International Airport just 20 miles away. The area offers small town living with the convenience of all amenities nearby. (keenesburgco.org) Historically and in its base form, Greeley is largely an agricultural center—livestock, meat-packing, sugar beets, and related processing activities remain extensive today. More recently, the area has become the eastern flank of a large high tech and light manufacturing belt centered in nearby Windsor and anchored by Fort Collins and Loveland to the west. The University of Northern Colorado adds a light college-town accent bringing some 13,000 students. (bestplaces.net)

BROKER OF RECORD
ADAM LEWIS
Colorado Broker of Record
1225 17th Street, Suite 1800
Denver, CO 80202
Tel: (303) 328-2050
adam.lewis@marcusmillichap.com
License: ER. 100091205
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0050160)