Industrial Property Near Ward
12198 Ridge Rd, Wheat Ridge, CO 80033
13,541 SF multi-tenant industrial asset with outdoor storage.
Type:Industrial
Property size:
13,541 SFPrice / SF:
$151/SF- Added:
- Apr 28, 2025
- Days on Market:
- 384
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 12198 Ridge Rd
General Information
- Standard status
- Active
- Size
- 13,541 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1968
Listing agent Brandon Kramer License #CO FA100045203
Listing office Marcus & Millichap - Denver (303) 328-2020
Listing date Apr 28, 2025
Source Crexi
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 Marcus & Millichap - Denver
HighLights
- 13,541 SF multitenant industrial and outdoor storage asset.
- Convenient location off Ward Road and I‑70 with access to major transportation routes.
- Located across from the Ward Station light rail stop.
- Located across from new apartment developments like The Ridge at Ward Station.
- Recently repaved in August 2024.
- Value‑add opportunity through switching to NNN leases.
Overview
This 13,541 SF multi-tenant industrial asset with outdoor storage is located at 12198 Ridge Road in Wheat Ridge, CO. The property is comprised of three tenants on shorter-term gross leases, presenting an opportunity for a new buyer to add value by transitioning to NNN leases. Conveniently situated off Ward Road and I-70, the property provides access to major transportation routes in the western suburbs. The property is located across from the Ward Station light rail stop and new apartment developments like The Ridge at Ward Station. The property was recently repaved in August 2024.
Financial Insights
Value Estimation Calculated for Industrial
Conservative
$1.17M
NOI $104,934 @ 9.00% cap · cautious / downside scenario
Moderate
$1.50M
NOI $104,934 @ 7.00% cap · market / base-case scenario
Aggressive
$2.10M
NOI $104,934 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Industrial
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.8k | $11.58 |
| − Vacancy | −$6.9k | −$0.51 |
| EGI | $149.9k | $11.07 |
| − OpEx | −$45.0k | −$3.32 |
| NOI | $104.9k | $7.75 |
13,541 SF · lease $11.58/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Use Scenarios
Best Use
Industrial
$1.50M
$1.31M – $1.75M
NOI $104,934 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.13M
$26.37M – $35.16M
NOI $2,109,353 @ 7.0% cap · market cap 102.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Industrial properties
Location Insight
- Map
- Local Demand
- City
- Wheat Ridge
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.108
- Latitude
- 39.7756
Nearby Similar for Sale
FAQs
What type of property is this?
Industrial property - 13,541 SF multi-tenant industrial asset with outdoor storage.
Where is this industrial property located?
The property is located at 12198 Ridge Rd Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 13,541 SF multitenant industrial and outdoor storage asset.; Convenient location off Ward Road and I‑70 with access to major transportation routes.; Located across from the Ward Station light rail stop.
