Functional Two-Bay Warehouse For
For Sale
Contact for pricing
10701 E 120th Ave, Henderson, CO 80640
Two-bay warehouse featuring large drive-in doors, 1,848 square feet.
Property Size1,848 SF
Price / SF$514.07
Days on Market428
Property Features for 10701 E 120th Ave
General Information
Standard status
Active
Size
1,848 SF
Property subtype
Industrial
Zoning
A-3
Building Details
Year Built
1931
Year Renovated
2013
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
Unique Properties, Inc
(303) 900-5742
Listed By:
Michael DeSantis · License #CO FA.100053000
Source:
Crexi
Added: Jun 11, 2025
Changed: Aug 8
Last Checked: Aug 11 at 2:11PM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
This property is a functional warehouse featuring two bays. The warehouse includes large drive-in doors. The property size is 1,848 square feet.
Key Highlights
- Functional two‑bay warehouse provides ample space.
- Large drive‑in doors offer easy access.
- Warehouse property, ideal for various business needs.
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
$26,735
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
2.81%
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%
$534,700
$534.7K
Cap Rate 7%
$381,929
$381.9K
Cap Rate 9%
$297,056
$297.1K
Market Conditions
NOI Build-Up for 1,848 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
$34.2K $18.48/SF
− Vacancy
−$2.7K −$1.46/SF
EGI
$31.5K $17.02/SF
− OpEx
−$4.7K −$2.55/SF
NOI
$26.7K $14.47/SF
Area
Adams County, CO
Vacancy
7.90%
Lease Rate
$18.48 /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%
$534,700
Cap Rate 7%
$381,929
Cap Rate 9%
$297,056
Alternative Uses
Best Use
Warehouse
$381.9K
$334.2K – $445.6K
NOI $26,735 @ 7.0% cap · market cap 2.81%
Second Best
Industrial
$314.5K
$275.2K – $367.0K
NOI $22,017 @ 7.0% cap · market cap 2.32%
Theoretical Best
Multifamily LT 5
$27.19M
$23.79M – $31.72M
NOI $1,903,280 @ 7.0% cap · market cap 200.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80640, CO
13,106
Population
4,889
Households
2.7
Avg Household Size
33
Median Age
26%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
1,008
Density / Sq Mi
$111,145
Median Household Income
$58,417
Median Earnings
$2,138
Median Rent
$464,400
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?
Warehouse - Two-bay warehouse featuring large drive-in doors, 1,848 square feet.
Where is this warehouse located?
The property is located at 10701 E 120th Ave Henderson, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Functional two‑bay warehouse provides ample space.; Large drive‑in doors offer easy access.; Warehouse property, ideal for various business needs.
