Versatile Denver Commercial
For Sale
$3,750,000
1221 S Bannock, Denver, CO 80223
Warehouse, office, and vacant lot near Broadway Station Development.
Property Size8,100 SF
Lot Size0.67 Acres
Price / SF$462.96
Days on Market1032
Property Features for 1221 S Bannock
General Information
Standard status
Active
Size
8,100 SF
Lot size
0.67 Acres
Property subtype
Commercial
Amenities
Central air
Metal Roof
Central Air Cooling
Forced Air Heating
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: Oct 12, 2023
Changed: Aug 8
Last Checked: Aug 8 at 6:12AM
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 Denver County property presents a significant opportunity for investors and entrepreneurs. Located across from the upcoming Broadway Station Development, the property includes three parcels. The main warehouse provides 8100 square feet of versatile space with convenient access. The interior includes 4 bathrooms, heat, and central air conditioning. A converted single-family residence offers 1000 square feet of office space, featuring 2 bedrooms and 1.5 baths. The third parcel is a vacant, fenced lot at the corner of Bannock and Arizona, offering potential for expansion, additional parking, or tailored developments. The property's configuration of warehouse, office space, and vacant lot creates multiple potential revenue streams and expansion opportunities, suitable for automotive, industrial, or investment purposes.
Key Highlights
- Prime location across from the future Broadway Station Development.
- Includes a large 8100 sq ft warehouse suitable for various businesses.
- Features a converted 1000 sq ft office space with 2 bedrooms and 1.5 baths.
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
3.16%
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%
$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 3.16%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,702 @ 7.0% cap · market cap 2.23%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,497 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Under-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 400 W Center Ave, Denver, CO 80223
- 303 Self Storage - Broadway — 1699 S Broadway, Denver, CO 80210
- Broadway Station Self Storage — 1475 S Acoma St, Denver, CO 80223
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse, office, and vacant lot near Broadway Station Development.
Where is this warehouse located?
The property is located at 1221 S Bannock Denver, CO.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Prime location across from the future Broadway Station Development.; Includes a large 8100 sq ft warehouse suitable for various businesses.; Features a converted 1000 sq ft office space with 2 bedrooms and 1.5 baths.
