Single-Tenant Auto Shop with NNN
New
For Sale
$3,300,000
10555 Irma Drive, Northglenn, CO 80233
Established automotive facility with a single-tenant absolute NNN lease and a hard-corner position.
Property Size9,992 SF
Lot Size1.48 Acres
Price / SF$330.26
Days on Market2
Property Features for 10555 Irma Drive
General Information
Standard status
Active
Size
9,992 SF
Lot size
1.48 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2014
Buildings
1
Tenancy
Single
Listing Agency:
Newmark | Phoenix
(480) 241-5146
Listed By:
Jesse Goldsmith · License #SA586241000
(480) 241-5146
Source:
Nmrk
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:44AM
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 Newmark | Phoenix
Investment Insights
Based on property information with market context.
Kaizen Collision Center is a 9,992-square-foot automotive facility completed in 2014. The property occupies 1.48 acres and is leased to a single tenant under an absolute NNN structure, with 13+ years remaining on the lease. The site includes parking and is held fee simple.
The facility is positioned at the southwest corner of Irma Drive and Leroy Drive in Northglenn, Colorado. The surrounding setting includes two green parks, a residential neighborhood, and several industrial buildings. Interstate 25 is approximately one mile west of the property, providing access to the regional freeway network.
The facility is positioned at the southwest corner of Irma Drive and Leroy Drive in Northglenn, Colorado. The surrounding setting includes two green parks, a residential neighborhood, and several industrial buildings. Interstate 25 is approximately one mile west of the property, providing access to the regional freeway network.
Key Highlights
- 9,992‑square‑foot automotive facility completed in 2014
- 1.48‑acre fee simple property in Northglenn, CO
- Single‑tenant absolute NNN lease with 13+ years remaining
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
$147,978
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
4.48%
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%
$2,959,560
$3.0M
Cap Rate 7%
$2,113,971
$2.1M
Cap Rate 9%
$1,644,200
$1.6M
Market Conditions
NOI Build-Up for 9,992 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
$221.8K $22.20/SF
− Vacancy
−$10.4K −$1.04/SF
EGI
$211.4K $21.16/SF
− OpEx
−$63.4K −$6.35/SF
NOI
$148.0K $14.81/SF
Area
ZIP 80233
Vacancy
4.70%
Lease Rate
$22.20 /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%
$2,959,560
Cap Rate 7%
$2,113,971
Cap Rate 9%
$1,644,200
Alternative Uses
Best Use
Retail
$2.11M
$1.85M – $2.47M
NOI $147,978 @ 7.0% cap · market cap 4.48%
Second Best
Industrial
$936.8K
$819.7K – $1.09M
NOI $65,578 @ 7.0% cap · market cap 1.99%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,729 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80233, CO
48,050
Population
18,309
Households
2.6
Avg Household Size
35
Median Age
26%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
5,280
Density / Sq Mi
$85,132
Median Household Income
$45,772
Median Earnings
$1,863
Median Rent
$441,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive facility with a single-tenant absolute NNN lease and a hard-corner position.
Where is this auto shop located?
The property is located at 10555 Irma Drive Northglenn, CO.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 9,992‑square‑foot automotive facility completed in 2014; 1.48‑acre fee simple property in Northglenn, CO; Single‑tenant absolute NNN lease with 13+ years remaining
