Flex Space with Drive-In
For Sale
Contact for pricing
12295 Pennsylvania St Unit 3, Thornton, CO 80241
Office, showroom, warehouse, and lobby areas support a versatile commercial layout.
Property Size1,079 SF
Price / SF$338.28
Days on Market133
Property Features for 12295 Pennsylvania St Unit 3
General Information
Standard status
Active
Size
1,079 SF
Class
B
Property subtype
Industrial, Office
Investment Type
Owner/User
Additional Details
Drive-In Doors
1
Building Details
Year Built
2008
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Kinsey & Company Commercial Real Estate
(303) 847-1295
Listed By:
Brady Kinsey · License #FA100049160
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 1:30PM
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 Kinsey & Company Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex space was built in 2008 and combines a private office, lobby, showroom, and warehouse area within an efficient commercial configuration. The unit includes one 10-foot drive-in door and its own ADA restroom, supporting both office and operational functions.
Parking is located along the eastern side of the building and is shared with the other condominium owners. The unit may be sold separately or together with the neighboring unit. Tours must be coordinated through the listing broker while the business remains in operation.
Parking is located along the eastern side of the building and is shared with the other condominium owners. The unit may be sold separately or together with the neighboring unit. Tours must be coordinated through the listing broker while the business remains in operation.
Key Highlights
- One 10‑foot drive‑in door
- Private office, lobby, showroom, and warehouse areas
- Dedicated ADA restroom within the unit
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
$16,023
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
4.39%
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%
$320,460
$320.5K
Cap Rate 7%
$228,900
$228.9K
Cap Rate 9%
$178,033
$178.0K
Market Conditions
NOI Build-Up for 1,079 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
$28.5K $26.40/SF
− Vacancy
−$7.1K −$6.60/SF
EGI
$21.4K $19.80/SF
− OpEx
−$5.3K −$4.95/SF
NOI
$16.0K $14.85/SF
Area
Thornton, CO
Vacancy
25.00%
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%
$320,460
Cap Rate 7%
$228,900
Cap Rate 9%
$178,033
Alternative Uses
Best Use
Office B
$228.9K
$200.3K – $267.1K
NOI $16,023 @ 7.0% cap · market cap 4.39%
Second Best
Flex RnD
$187.0K
$163.6K – $218.2K
NOI $13,091 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$323.2K
$282.8K – $377.1K
NOI $22,623 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80241, CO
33,097
Population
12,724
Households
2.6
Avg Household Size
37
Median Age
41%
College-Educated
92%
High-School Grad
6.6 sq mi
ZIP Area
5,015
Density / Sq Mi
$107,553
Median Household Income
$51,614
Median Earnings
$2,036
Median Rent
$502,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office, showroom, warehouse, and lobby areas support a versatile commercial layout.
Where is this flex space located?
The property is located at 12295 Pennsylvania St Unit 3 Thornton, CO.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: One 10‑foot drive‑in door; Private office, lobby, showroom, and warehouse areas; Dedicated ADA restroom within the unit
