Multi-Unit Flex Warehouse
For Sale
Contact for pricing
12200 W 52nd Ave, Wheat Ridge, CO 80033
18,000 SF flex/warehouse building with six units, built in 1997, and 100% occupancy.
Property Size18,000 SF
Price / SF$199.33
Days on Market212
Property Features for 12200 W 52nd Ave
General Information
Standard status
Active
Size
18,000 SF
Property subtype
INDUSTRIAL
Zoning
PID
Occupancy
100%
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
Madison Commercial Properties
(303) 771-3850
Listed By:
Pete Foster
(970) 420-1718
Source:
Moodyscre
Added: Feb 5
Changed: Aug 14
Last Checked: Aug 14 at 7:43AM
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 Madison Commercial Properties
Investment Insights
Based on property information with market context.
The property is an 18,000 SF multi-unit flex/warehouse building constructed in 1997. It contains six units and is listed with 100% occupancy.
Located in the West Denver submarket at 12200 W 52nd Ave in Wheat Ridge, Colorado, the building is designated under a PID zoning classification. The transaction is being offered for sale.
As configured, the site provides multiple warehouse/flex units within a single building envelope, supporting a straightforward multi-tenant ownership or investment structure.
Located in the West Denver submarket at 12200 W 52nd Ave in Wheat Ridge, Colorado, the building is designated under a PID zoning classification. The transaction is being offered for sale.
As configured, the site provides multiple warehouse/flex units within a single building envelope, supporting a straightforward multi-tenant ownership or investment structure.
Key Highlights
- 18,000 SF flex/warehouse building with 6 units
- Built in 1997
- Zoned PID
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
$151,127
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
4.21%
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%
$3,022,540
$3.0M
Cap Rate 7%
$2,158,957
$2.2M
Cap Rate 9%
$1,679,189
$1.7M
Market Conditions
NOI Build-Up for 18,000 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
$248.4K $13.80/SF
− Vacancy
−$15.9K −$0.88/SF
EGI
$232.5K $12.92/SF
− OpEx
−$81.4K −$4.52/SF
NOI
$151.1K $8.40/SF
Area
Jefferson County, CO
Vacancy
6.40%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$3,022,540
Cap Rate 7%
$2,158,957
Cap Rate 9%
$1,679,189
Alternative Uses
Best Use
Flex RnD
$2.16M
$1.89M – $2.52M
NOI $151,127 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,488 @ 7.0% cap · market cap 3.89%
Theoretical Best
Multifamily LT 5
$40.06M
$35.05M – $46.73M
NOI $2,803,956 @ 7.0% cap · market cap 78.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80033, CO
26,618
Population
13,257
Households
2
Avg Household Size
42
Median Age
44%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
3,207
Density / Sq Mi
$84,719
Median Household Income
$53,503
Median Earnings
$1,536
Median Rent
$568,900
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 - 18,000 SF flex/warehouse building with six units, built in 1997, and 100% occupancy.
Where is this flex space located?
The property is located at 12200 W 52nd Ave Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $3,588,000.
What are key features of this property?
This property features: 18,000 SF flex/warehouse building with 6 units; Built in 1997; Zoned PID
