Open Flex
For Sale
$399,000
11786 Shaffer Place S202, Littleton, CO 80127
Versatile commercial condominium with shared clubhouse amenities and on-site vehicle service facilities.
Property Size1,098 SF
Price / SF$363.39
Days on Market23
Property Features for 11786 Shaffer Place S202
General Information
Standard status
Active
Size
1,098 SF
Amenities
clubhouse
full kitchen
dining and gathering areas
outdoor patio with grills
movie viewing
event space
on-site showers
vehicle wash and vacuum area
Building Details
Year Built
2013
Listing Agency:
RE/MAX Professionals
(303) 887-1600
Listed By:
James T Wanzeck · License #313411
Source:
Englehomesgroup
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 11:33AM
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 1,098-square-foot flex condominium, built in 2013, offers an open layout suited to headquarters, workshop, hobby, or personal-use applications. The unit is part of Garagetown Ken Caryl Storage Condos at 11786 Shaffer Place S202 in Littleton.
Shared facilities expand the property’s functionality with a clubhouse that includes a full kitchen, dining and gathering areas, movie-viewing space, meeting and event areas, and an outdoor patio with grills. On-site showers and a vehicle wash and vacuum area are also available. The surrounding community includes retail, healthcare, manufacturing, and other commercial businesses. HOA services cover water, sewer, snow removal, clubhouse maintenance, and access to the shared amenities.
Shared facilities expand the property’s functionality with a clubhouse that includes a full kitchen, dining and gathering areas, movie-viewing space, meeting and event areas, and an outdoor patio with grills. On-site showers and a vehicle wash and vacuum area are also available. The surrounding community includes retail, healthcare, manufacturing, and other commercial businesses. HOA services cover water, sewer, snow removal, clubhouse maintenance, and access to the shared amenities.
Key Highlights
- 1,098 SF flex condominium at 11786 Shaffer Place S202, Littleton, CO 80127
- Built in 2013 with an open interior layout
- Clubhouse includes a full kitchen, dining areas, meeting space, and outdoor patio with grills
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
$15,669
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
3.93%
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%
$313,380
$313.4K
Cap Rate 7%
$223,843
$223.8K
Cap Rate 9%
$174,100
$174.1K
Market Conditions
NOI Build-Up for 1,098 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
$22.8K $20.76/SF
− Vacancy
−$410 −$0.37/SF
EGI
$22.4K $20.39/SF
− OpEx
−$6.7K −$6.12/SF
NOI
$15.7K $14.27/SF
Area
Douglas County, CO
Vacancy
1.80%
Lease Rate
$20.76 /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%
$313,380
Cap Rate 7%
$223,843
Cap Rate 9%
$174,100
Alternative Uses
Best Use
Industrial
$223.8K
$195.9K – $261.2K
NOI $15,669 @ 7.0% cap · market cap 3.93%
Second Best
Flex RnD
$204.7K
$179.1K – $238.8K
NOI $14,327 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80127, CO
44,776
Population
17,507
Households
2.6
Avg Household Size
43
Median Age
60%
College-Educated
98%
High-School Grad
66.4 sq mi
ZIP Area
674
Density / Sq Mi
$137,753
Median Household Income
$70,039
Median Earnings
$2,102
Median Rent
$663,900
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?
Flex space - Versatile commercial condominium with shared clubhouse amenities and on-site vehicle service facilities.
Where is this flex space located?
The property is located at 11786 Shaffer Place S202 Littleton, CO.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,098 SF flex condominium at 11786 Shaffer Place S202, Littleton, CO 80127; Built in 2013 with an open interior layout; Clubhouse includes a full kitchen, dining areas, meeting space, and outdoor patio with grills
