Contiguous Flex Condo
For Sale
Contact for pricing
10875 Dover Street Unit 100 & 200, Westminster, CO 80021
Eight contiguous flex condo units with flexible office-and-warehouse layouts available for acquisition.
Property Size5,078 SF
Price / SF$200
Days on Market51
Property Features for 10875 Dover Street Unit 100 & 200
General Information
Standard status
Active
Size
5,078 SF
Property subtype
Office, Industrial
Additional Details
Cap Rate
7%
Building Details
Year Built
2002
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9551
Listed By:
Joe Owston · License #100104497
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 2 at 1:41PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This offering consists of eight contiguous, 2nd generation flex condo units totaling 22,478 SF. The property is configured as two condos per unit, and the units can be combined to create larger spaces. Each condo’s layout varies, with a mix of office and warehouse area, along with private office and open office options that differ by unit. The result is a portfolio of flex-ready configurations suited to users seeking workplace space paired with functional warehouse space.
Units 100–200 total 5,078 SF and are currently leased. The remaining units—300–400, 500–600, and 700–800—are currently vacant, with 5,640 SF, 5,880 SF, and 5,880 SF respectively, for a total of 17,400 SF of available space across those sections. This contiguous setup can support multiple tenancy or be reconfigured through combination, depending on a buyer’s operating plan.
For buyers, the flexibility in office-to-warehouse ratios, along with the ability to combine units, can be useful when underwriting different user scenarios across a single contiguous block. For operators, the existing second-generation flex condo approach supports a range of office-heavy or warehouse-forward requirements while keeping ownership and suite identity aligned to condo-style premises. The combined portfolio structure provides a straightforward way to assemble a larger flex footprint without needing separate properties.
Units 100–200 total 5,078 SF and are currently leased. The remaining units—300–400, 500–600, and 700–800—are currently vacant, with 5,640 SF, 5,880 SF, and 5,880 SF respectively, for a total of 17,400 SF of available space across those sections. This contiguous setup can support multiple tenancy or be reconfigured through combination, depending on a buyer’s operating plan.
For buyers, the flexibility in office-to-warehouse ratios, along with the ability to combine units, can be useful when underwriting different user scenarios across a single contiguous block. For operators, the existing second-generation flex condo approach supports a range of office-heavy or warehouse-forward requirements while keeping ownership and suite identity aligned to condo-style premises. The combined portfolio structure provides a straightforward way to assemble a larger flex footprint without needing separate properties.
Key Highlights
- 8 contiguous 2nd generation flex condo units totaling 22,478 SF
- Year built 2002
- Units are configured as two condos per unit and can be combined
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.2k | $26.04 |
| − Vacancy | −$32.8k | −$6.46 |
| EGI | $99.4k | $19.58 |
| − OpEx | −$24.9k | −$4.90 |
| NOI | $74.6k | $14.69 |
5,078 SF · lease $26.04/SF/yr · vacancy 24.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.07M
$932.2K – $1.24M
NOI $74,578 @ 7.0% cap · market cap 7.34%
Second Best
Flex RnD
$743.2K
$650.3K – $867.1K
NOI $52,026 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,896 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80021, CO
36,176
Population
17,353
Households
2.1
Avg Household Size
36
Median Age
53%
College-Educated
98%
High-School Grad
16.5 sq mi
ZIP Area
2,192
Density / Sq Mi
$105,645
Median Household Income
$59,947
Median Earnings
$2,054
Median Rent
$530,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Eight contiguous flex condo units with flexible office-and-warehouse layouts available for acquisition.
Where is this flex space located?
The property is located at 10875 Dover Street Unit 100 & 200 Westminster, CO.
What is the asking price?
The asking price for this property is $1,015,600.
What are key features of this property?
This property features: 8 contiguous 2nd generation flex condo units totaling 22,478 SF; Year built 2002; Units are configured as two condos per unit and can be combined
