Industrial Warehouse and Office with
For Sale
$2,995,000
1221 S Bannock, Denver, CO 80223
Three contiguous parcels offer a heated, centrally air-conditioned warehouse, a separate office, and a fenced corner lot for flexible use.
Property Size8,100 SF
Price / SF$369.75
Days on Market53
Property Features for 1221 S Bannock
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$41,873
Amenities
Central air
Metal Roof
Central Air Cooling
City Limits
Forced Air Heating
Loading: Drive-in
Loading: Drive-in overhead doors
Paved
Storage on Site
Building Details
Year Built
1972
Listing Agency:
Prestigio Real Estate
(303) 898-2589
Listed By:
LUKE ANGERHOFER
Source:
Corcoran
Added: Jul 2
Changed: Aug 22
Last Checked: Aug 23 at 6:32AM
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 Prestigio Real Estate
Investment Insights
Based on property information with market context.
This for-sale assemblage includes three contiguous Denver County parcels: an approximately 8,100-square-foot industrial warehouse/shop, a separate 1,035-square-foot office building, and a vacant fenced corner lot. The warehouse is heated and centrally air-conditioned, and it includes four restrooms along with a highly adaptable interior layout designed for a range of industrial, automotive, service, storage, or owner-user operations.
The office building was converted from a former residence and provides functional space with two private rooms and 1.5 bathrooms, separated from the warehouse activity. The parcels are located at the corner of Bannock Street and Arizona Avenue, directly across from the Broadway Station redevelopment area, with the additional fenced lot providing room for parking or other outdoor uses.
For an owner-operator or tenant seeking space they can move into immediately, the warehouse’s adaptable layout supports day-to-day industrial and service functions, while the separate office offers dedicated administrative space. The vacant fenced parcel adds practical flexibility for parking, outdoor storage, or potential expansion and future redevelopment, subject to zoning and applicable approvals.
The office building was converted from a former residence and provides functional space with two private rooms and 1.5 bathrooms, separated from the warehouse activity. The parcels are located at the corner of Bannock Street and Arizona Avenue, directly across from the Broadway Station redevelopment area, with the additional fenced lot providing room for parking or other outdoor uses.
For an owner-operator or tenant seeking space they can move into immediately, the warehouse’s adaptable layout supports day-to-day industrial and service functions, while the separate office offers dedicated administrative space. The vacant fenced parcel adds practical flexibility for parking, outdoor storage, or potential expansion and future redevelopment, subject to zoning and applicable approvals.
Key Highlights
- 1972‑built commercial property with an approximately 8,100 SF heated, centrally air‑conditioned industrial warehouse/shop
- Warehouse layout includes four restrooms and flexible space for industrial, automotive, service, storage, or owner‑user use
- Separate approximately 1,035 SF office building with two private rooms and 1.5 bathrooms
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
$118,681
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
3.96%
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%
$2,373,620
$2.4M
Cap Rate 7%
$1,695,443
$1.7M
Cap Rate 9%
$1,318,678
$1.3M
Market Conditions
NOI Build-Up for 8,100 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
$213.8K $26.40/SF
− Vacancy
−$55.6K −$6.86/SF
EGI
$158.2K $19.54/SF
− OpEx
−$39.6K −$4.88/SF
NOI
$118.7K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
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%
$2,373,620
Cap Rate 7%
$1,695,443
Cap Rate 9%
$1,318,678
Alternative Uses
Best Use
Office B
$1.70M
$1.48M – $1.98M
NOI $118,681 @ 7.0% cap · market cap 3.96%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,702 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,497 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three contiguous parcels offer a heated, centrally air-conditioned warehouse, a separate office, and a fenced corner lot for flexible use.
Where is this flex space located?
The property is located at 1221 S Bannock Denver, CO.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 1972‑built commercial property with an approximately 8,100 SF heated, centrally air‑conditioned industrial warehouse/shop; Warehouse layout includes four restrooms and flexible space for industrial, automotive, service, storage, or owner‑user use; Separate approximately 1,035 SF office building with two private rooms and 1.5 bathrooms
