Versatile Commercial Building with
For Sale
$559,000
1050 S Quitman Street, Denver, CO 80219
Office/warehouse with storage, dock access, and business use potential.
Property Size2,873 SF
Price / SF$194.57
Days on Market489
Property Features for 1050 S Quitman Street
General Information
Standard status
Active
Size
2,873 SF
Taxes and HOA fees
Annual Taxes
$8,178
Building Details
Year Built
1946
Listing Agency:
RE/MAX PROFESSIONALS
(303) 489-5533
Listed By:
TONYA FALLOWS · License #FA40005021
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Aug 23 at 5:51AM
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 RE/MAX PROFESSIONALS
Investment Insights
Based on property information with market context.
This versatile commercial building, located in the Westwood/Kentucky Gardens neighborhood, offers 2,873 square feet of space suitable for a wide range of business uses. The property features a mix of office space and warehouse/storage areas, with potential for residential conversion. The front interior includes a spacious open room suitable for a showroom or office space, along with three private offices and a large central area that can serve as a conference or boardroom. A kitchen area with appliances is available for break room use. Various storage and flex rooms throughout the building provide ample storage capacity. The fenced 0.14-acre lot enhances privacy and security, featuring an attached two-car garage with alley access and a dock for easy loading and unloading. Parking is available with four designated spaces in the front parking lot, plus additional off-street parking. The property offers easy access to Santa Fe Drive, I-25, and Downtown Denver. Currently used by a roofing company, this property is well-suited for a construction or roofing-related business.
Key Highlights
- Versatile commercial building suitable for office, warehouse, residential, and various business uses.
- 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
$48,523
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
8.68%
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%
$970,460
$970.5K
Cap Rate 7%
$693,186
$693.2K
Cap Rate 9%
$539,144
$539.1K
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
$75.8K $26.40/SF
− Vacancy
−$11.1K −$3.88/SF
EGI
$64.7K $22.52/SF
− OpEx
−$16.2K −$5.63/SF
NOI
$48.5K $16.89/SF
Area
ZIP 80219
Vacancy
14.70%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$970,460
Cap Rate 7%
$693,186
Cap Rate 9%
$539,144
Alternative Uses
Best Use
Office B
$693.2K
$606.5K – $808.7K
NOI $48,523 @ 7.0% cap · market cap 8.68%
Second Best
Warehouse
$424.1K
$371.1K – $494.8K
NOI $29,688 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$819.5K
$717.1K – $956.1K
NOI $57,368 @ 7.0% cap · market cap 10.26%
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
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 680 Sheridan Boulevard, Denver, CO 80214
- Public Storage — 599 Sheridan Boulevard, Lakewood, CO 80226
- Self Storage — 3101 w 14th ave, denver, co 80204
- Self Storage — 3200 w colfax ave, denver, co 80204
Frequently Asked Questions
What type of property is this?
Warehouse - Office/warehouse with storage, dock access, and business use potential.
Where is this warehouse located?
The property is located at 1050 S Quitman Street Denver, CO.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Versatile commercial building suitable for office, warehouse, residential, and various business uses.; Dock access for easy loading and unloading.; Ample storage space throughout the building.
