Flex Space
For Sale
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5361-5399 S Alkire Cir, Littleton, CO
Condo units for sale or lease, from 4,000 SF.
Property Size4,244 SF
Lot Size3.42 Acres
Price / SF$243.44
Days on Market506
Property Features for 5361-5399 S Alkire Cir
General Information
Standard status
Active
Size
4,244 SF
Lot size
3.42 Acres
Property subtype
FLEX_R_AND_D
Lease Type
NNN
Properties For Sale
at 5361-5399 S Alkire Cir Contact us- Floor
- 1
- Size
- 49,307 SF
- Type
- FLEX_R_AND_D
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
5361 - 5399 S Alkire Cir
- Lease rate does not include utilities, NNN, janitorial, tenant finish build-out.Abundant...
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Listing Agency:
Bartell & Company
Listed By:
Dan Bartell · License #000867805
(303) 753-9100
Source:
Moodyscre
Added: Apr 16, 2025
Changed: Aug 9
Last Checked: Sep 2 at 9:19PM
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 Bartell & Company
Investment Insights
Based on property information with market context.
This property offers condo units suitable for office, flex, lab, or warehouse use. Units are available for purchase or lease individually, starting at 4,000 square feet and scaling up to the entire 49,307 square foot building. Build-to-suit opportunities are also available up to 250,000 square feet. All units are delivered as a cold dark shell. The property features varying ceiling heights, drive-in doors, and dock-high doors of varying sizes. Highly visible signage is available, and the property is adjacent to C-470. It also provides access to biking and hiking trails.
Key Highlights
- Flexible Space: Purchase or lease units from 4,000 SF up to 49,307 SF, with build‑to‑suit opportunities up to 250,000 SF.
- Versatile Property: Suitable for condo, office, office‑flex, lab, warehouse, or build‑to‑suit purposes.
- Prominent Signage: Highly visible signage available for business exposure.
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
$73,956
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
7.16%
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%
$1,479,120
$1.5M
Cap Rate 7%
$1,056,514
$1.1M
Cap Rate 9%
$821,733
$821.7K
Market Conditions
NOI Build-Up for 4,244 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
$118.7K $27.96/SF
− Vacancy
−$20.1K −$4.73/SF
EGI
$98.6K $23.23/SF
− OpEx
−$24.7K −$5.81/SF
NOI
$74.0K $17.43/SF
Area
Douglas County, CO
Vacancy
16.90%
Lease Rate
$27.96 /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%
$1,479,120
Cap Rate 7%
$1,056,514
Cap Rate 9%
$821,733
Alternative Uses
Best Use
Office B
$1.06M
$924.5K – $1.23M
NOI $73,956 @ 7.0% cap · market cap 7.16%
Second Best
Industrial
$865.2K
$757.1K – $1.01M
NOI $60,564 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,041 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office 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 - Condo units for sale or lease, from 4,000 SF.
Where is this flex space located?
The property is located at 5361-5399 S Alkire Cir Littleton, CO.
What is the asking price?
The asking price for this property is $1,033,171.
What are key features of this property?
This property features: Flexible Space: Purchase or lease units from 4,000 SF up to 49,307 SF, with build‑to‑suit opportunities up to 250,000 SF.; Versatile Property: Suitable for condo, office, office‑flex, lab, warehouse, or build‑to‑suit purposes.; Prominent Signage: Highly visible signage available for business exposure.
