Class A Office/Warehouse
For Sale
Contact for pricing
12405 Grant St, Thornton, CO 80241
Stand-alone Class A office building with integrated warehouse for sale.
Property Size13,500 SF
Price / SF$295.56
Days on Market189
Property Features for 12405 Grant St
General Information
Standard status
Active
Size
13,500 SF
Class
A
Property subtype
Industrial, Office
Occupancy
100%
Investment Type
Owner/User
Listing Agency:
Dean Callan & Company Inc
(303) 449-1420
Listed By:
Brit Banks · License #3697
Source:
Crexi
Added: Feb 3
Changed: Aug 9
Last Checked: Aug 11 at 3:23PM
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 Dean Callan & Company Inc
Investment Insights
Based on property information with market context.
Located in the North Metro Denver area, the property at 12405 Grant Street is a stand-alone Class A office building with an integrated small warehouse. This property is suitable for owner-users. The building offers convenient access from I-25 and 120th Avenue. The location provides proximity to amenities such as restaurants, breweries, walking and biking trails, and public transportation at the Wagon Road Park-n-Ride. The property features unobstructed views of the Front Range and high visibility. The newly opened express lane on I-25 to and from E-470 provides an additional benefit. The property contains 13,500 square feet and is intended for commercial real estate, office, warehouse, and industrial use.
Key Highlights
- Premier Class A office building with integrated small warehouse.
- Easy access from I‑25 and 120th Avenue.
- Unobstructed views of the Front Range.
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
$200,475
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
5.02%
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%
$4,009,500
$4.0M
Cap Rate 7%
$2,863,929
$2.9M
Cap Rate 9%
$2,227,500
$2.2M
Market Conditions
NOI Build-Up for 13,500 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
$356.4K $26.40/SF
− Vacancy
−$89.1K −$6.60/SF
EGI
$267.3K $19.80/SF
− OpEx
−$66.8K −$4.95/SF
NOI
$200.5K $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%
$4,009,500
Cap Rate 7%
$2,863,929
Cap Rate 9%
$2,227,500
Alternative Uses
Best Use
Office B
$2.86M
$2.51M – $3.34M
NOI $200,475 @ 7.0% cap · market cap 5.02%
Second Best
Warehouse
$1.85M
$1.62M – $2.16M
NOI $129,738 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $283,046 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Stand-alone Class A office building with integrated warehouse for sale.
Where is this office building located?
The property is located at 12405 Grant St Thornton, CO.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Premier Class A office building with integrated small warehouse.; Easy access from I‑25 and 120th Avenue.; Unobstructed views of the Front Range.
