Industrial Flex Condo
For Sale
$249,000
1040 5th Ave 5, Lyons, CO 80540
Heated industrial condo with concrete floors, overhead door, and power for small businesses within a six-unit complex.
Property Size1,864 SF
Lot Size0.86 Acres
Price / SF$133.58
Days on Market62
Property Features for 1040 5th Ave 5
General Information
Standard status
Active
Size
1,864 SF
Lot size
0.86 Acres
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$9,368
Amenities
Central air
City Limits
Combination Refrigeration Cooler Cooling
Composition Roof
Individual Heat Source Heating
Level
Paved Parking
Building Details
Year Built
1965
Listing Agency:
Hayden Outdoors - Windsor
(970) 674-1990
Listed By:
CHASE HINSON
Source:
Corcoran
Added: Jun 13
Changed: Aug 11
Last Checked: Aug 12 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hayden Outdoors - Windsor
Investment Insights
Based on property information with market context.
This for-sale industrial flex condo unit is located in a six-unit complex and offers an enclosed, heated workspace with concrete floors. The unit includes an overhead electric garage door and a fully functioning bathroom with a hot water heater. Three-phase power is already in place, supporting a range of small business uses, and existing air lines are available for adding a compressor in the future.
The property is set on a shared 0.86-acre lot that serves the condos in the building and provides parking for the surrounding businesses. A small deeded portion of land is also included; a survey is available upon request. The complex is described as being conveniently located near the heart of Lyons, Colorado.
This space is best suited to owner-operators and tenants looking for their own controlled industrial workspace within a shared property arrangement. As part of the condo association, the unit includes a fixed $800 per month association fee that covers building insurance and utilities, while interior insurance and contents remain the owner’s responsibility. Seller financing is also mentioned as a potential option, subject to terms acceptable to the seller.
The property is set on a shared 0.86-acre lot that serves the condos in the building and provides parking for the surrounding businesses. A small deeded portion of land is also included; a survey is available upon request. The complex is described as being conveniently located near the heart of Lyons, Colorado.
This space is best suited to owner-operators and tenants looking for their own controlled industrial workspace within a shared property arrangement. As part of the condo association, the unit includes a fixed $800 per month association fee that covers building insurance and utilities, while interior insurance and contents remain the owner’s responsibility. Seller financing is also mentioned as a potential option, subject to terms acceptable to the seller.
Key Highlights
- Heated 1,864 +/- SF industrial condo in a six‑unit complex in Lyons, CO
- Concrete floors and an overhead electric garage door in the unit
- Fully functioning bathroom with hot water heater
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,594
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$451,880
$451.9K
Cap Rate 7%
$322,771
$322.8K
Cap Rate 9%
$251,044
$251.0K
Market Conditions
NOI Build-Up for 1,864 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.6K $18.00/SF
− Vacancy
−$1.3K −$0.68/SF
EGI
$32.3K $17.32/SF
− OpEx
−$9.7K −$5.19/SF
NOI
$22.6K $12.12/SF
Area
Boulder County, CO
Vacancy
3.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$451,880
Cap Rate 7%
$322,771
Cap Rate 9%
$251,044
Alternative Uses
Best Use
Warehouse
$391.9K
$342.9K – $457.3K
NOI $27,435 @ 7.0% cap · market cap 11.02%
Second Best
Flex RnD
$332.9K
$291.3K – $388.4K
NOI $23,306 @ 7.0% cap · market cap 9.36%
Theoretical Best
Office A
$562.4K
$492.1K – $656.1K
NOI $39,368 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80540, CO
4,710
Population
2,510
Households
1.9
Avg Household Size
49
Median Age
61%
College-Educated
98%
High-School Grad
152.8 sq mi
ZIP Area
31
Density / Sq Mi
$136,109
Median Household Income
$76,495
Median Earnings
$2,016
Median Rent
$787,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated industrial condo with concrete floors, overhead door, and power for small businesses within a six-unit complex.
Where is this flex space located?
The property is located at 1040 5th Ave 5 Lyons, CO.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Heated 1,864 +/- SF industrial condo in a six‑unit complex in Lyons, CO; Concrete floors and an overhead electric garage door in the unit; Fully functioning bathroom with hot water heater
