Flex Office/Warehouse with Drive-In
For Sale
Contact for pricing
12295 Pennsylvania St Units 2 & 3, Thornton, CO 80241
Built-out flex configuration with private office, lobby, showroom, warehouse area, and ADA restrooms for each unit.
Property Size2,023 SF
Price / SF$350.96
Days on Market138
Property Features for 12295 Pennsylvania St Units 2 & 3
General Information
Standard status
Active
Size
2,023 SF
Class
B
Property subtype
Industrial, Office
Investment Type
Owner/User
Additional Details
Business Included
Yes
Drive-In Doors
2
Building Details
Year Built
2008
Buildings
1
Stories
1
Units
2
Listing Agency:
Kinsey & Company Commercial Real Estate
Listed By:
Brady Kinsey · License #FA100049160
(303) 847-1295
Source:
Crexi
Added: Apr 21
Changed: Aug 24
Last Checked: Sep 3 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 Kinsey & Company Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex office/warehouse property features an efficient office build-out alongside warehouse and showroom space. The layout includes a private office and lobby, with warehouse and showroom areas designed to support day-to-day operations. Two 10-foot drive-in doors provide direct loading access, and each unit includes its own ADA restroom.
The offering includes Units 2 and 3 and can be sold together or separately. Public remarks note that the business is currently operating, and all tours must be coordinated through the listing broker.
As configured, the units provide dedicated office and amenity space within a functional warehouse environment, with separate ADA restroom facilities for each unit.
The offering includes Units 2 and 3 and can be sold together or separately. Public remarks note that the business is currently operating, and all tours must be coordinated through the listing broker.
As configured, the units provide dedicated office and amenity space within a functional warehouse environment, with separate ADA restroom facilities for each unit.
Key Highlights
- 2008‑built office/flex space with a built‑out configuration designed for flexible use
- Two 10‑foot drive‑in doors to support office, showroom, and warehouse operations
- Each unit includes its own ADA restroom
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
$24,545
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
3.46%
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%
$490,900
$490.9K
Cap Rate 7%
$350,643
$350.6K
Cap Rate 9%
$272,722
$272.7K
Market Conditions
NOI Build-Up for 2,023 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
$41.3K $20.40/SF
− Vacancy
−$3.5K −$1.73/SF
EGI
$37.8K $18.67/SF
− OpEx
−$13.2K −$6.53/SF
NOI
$24.5K $12.13/SF
Area
Thornton, CO
Vacancy
8.50%
Lease Rate
$20.40 /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%
$490,900
Cap Rate 7%
$350,643
Cap Rate 9%
$272,722
Alternative Uses
Best Use
Flex RnD
$350.6K
$306.8K – $409.1K
NOI $24,545 @ 7.0% cap · market cap 3.46%
Second Best
Warehouse
$277.7K
$243.0K – $324.0K
NOI $19,442 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$605.9K
$530.2K – $706.9K
NOI $42,415 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Turnkey business
Opportunity
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Built-out flex configuration with private office, lobby, showroom, warehouse area, and ADA restrooms for each unit.
Where is this flex space located?
The property is located at 12295 Pennsylvania St Units 2 & 3 Thornton, CO.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 2008‑built office/flex space with a built‑out configuration designed for flexible use; Two 10‑foot drive‑in doors to support office, showroom, and warehouse operations; Each unit includes its own ADA restroom
