Versatile Commercial Building with
For Sale
$420,000
1050 S Quitman St, Denver, CO 80219
Office/warehouse with storage, dock access, and business uses.
Property Size2,873 SF
Lot Size0.15 Acres
Price / SF$146.19
Days on Market167
Property Features for 1050 S Quitman St
General Information
Standard status
Active
Size
2,873 SF
Lot size
0.15 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,178
Building Details
Building Size
2,873 SF
Year Built
1946
Stories
1
Units
1
Listing Agency:
(303) 489-5533
Listed By:
Tonya Fallows · License #FA100008826
(303) 489-5533
Source:
Elliman
Added: Mar 10
Changed: Aug 21
Last Checked: Aug 22 at 9:20AM
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 Tonya Fallows
Investment Insights
Based on property information with market context.
This versatile commercial building offers an excellent office/warehouse opportunity within the Westwood/Kentucky Gardens neighborhood. The property spans 2,873 square feet and features a mix of office space, residential possibilities, and warehouse/storage spaces suitable for a wide range of business uses. The front interior includes a spacious open room that can be utilized as a showroom or office space. There are three additional private offices plus a large central area suitable for conference or boardroom meetings. A kitchen area with all appliances serves as a break room. Various storage/flex rooms throughout the building provide ample storage. The fenced 0.14-acre lot provides enhanced privacy and security, featuring an attached 2-car garage with alley access plus dock space for easy loading and unloading. Ample parking is available, including four designated spaces in the front parking lot plus additional off-street parking. The property offers easy access to Santa Fe, I-25, and Downtown Denver. Currently used by a roofing company, this property is well-suited for a construction or roofing-type business.
Key Highlights
- Versatile commercial building suitable for office, warehouse, or residential use.
- Dock access for easy loading and unloading.
- Ample storage space throughout the building.
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
$29,688
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
7.07%
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%
$593,760
$593.8K
Cap Rate 7%
$424,114
$424.1K
Cap Rate 9%
$329,867
$329.9K
Market Conditions
NOI Build-Up for 2,873 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
$37.9K $13.20/SF
− Vacancy
−$3.0K −$1.04/SF
EGI
$34.9K $12.16/SF
− OpEx
−$5.2K −$1.82/SF
NOI
$29.7K $10.33/SF
Area
ZIP 80219
Vacancy
7.90%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$593,760
Cap Rate 7%
$424,114
Cap Rate 9%
$329,867
Alternative Uses
Best Use
Office B
$693.2K
$606.5K – $808.7K
NOI $48,523 @ 7.0% cap · market cap 11.55%
Second Best
Mixed Use
$578.1K
$505.8K – $674.4K
NOI $40,466 @ 7.0% cap · market cap 9.63%
Theoretical Best
Office A
$819.5K
$717.1K – $956.1K
NOI $57,368 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 80219, CO
61,585
Population
21,729
Households
2.8
Avg Household Size
33
Median Age
22%
College-Educated
72%
High-School Grad
7.4 sq mi
ZIP Area
8,322
Density / Sq Mi
$67,325
Median Household Income
$41,153
Median Earnings
$1,464
Median Rent
$426,200
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office/warehouse with storage, dock access, and business uses.
Where is this mixed-use property located?
The property is located at 1050 S Quitman St Denver, CO.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Versatile commercial building suitable for office, warehouse, or residential use.; Dock access for easy loading and unloading.; Ample storage space throughout the building.
