Modern Flex/Office Building For
For Sale
$995,000
1305 S Inca St, Denver, CO 80223
Two-story flex/office building with warehouse space and outdoor area.
Property Size3,654 SF
Price / SF$272.30
Days on Market157
Property Features for 1305 S Inca St
General Information
Standard status
Active
Size
3,654 SF
Property subtype
Industrial
Building Details
Building Size
3,654 SF
Year Built
2013
Listing Agency:
Unique Properties, Inc
Listed By:
Brad Gilpin · License #EA.100007414
(303) 668-3733
Source:
Uniqueprop
Added: Apr 1
Changed: Aug 31
Last Checked: Sep 4 at 5:19AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
This 3,654 square foot flex/office building, constructed in 2013 and featuring new siding in 2025, offers a versatile space suitable for various business needs. The two-story structure includes a main level with a 10-foot clear warehouse area. The second level is currently configured as a private residence but can be utilized as office space. The property is zoned I-A industrial in Denver. Loading is facilitated by a small half-dock door, with the potential for conversion to drive-in loading. A 1,575 square foot private outdoor garden area presents opportunities for additional parking or fenced outdoor storage. The building is equipped with 1 phase 400 amp 240 volt power, with 3-phase power available nearby. Full HVAC control is provided throughout the building. The property is located a few minutes from Santa Fe Drive and W. Mississippi Ave.
Key Highlights
- Great location near Santa Fe Drive and W. Mississippi Ave.
- 3,654 SF Flex/Office building with flexible usage: warehouse and office/residence.
- Zoned I‑A industrial in Denver.
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
$34,087
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
3.43%
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%
$681,740
$681.7K
Cap Rate 7%
$486,957
$487.0K
Cap Rate 9%
$378,744
$378.7K
Market Conditions
NOI Build-Up for 3,654 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
$57.0K $15.60/SF
− Vacancy
−$4.6K −$1.25/SF
EGI
$52.4K $14.35/SF
− OpEx
−$18.4K −$5.02/SF
NOI
$34.1K $9.33/SF
Area
Denver, CO
Vacancy
8.00%
Lease Rate
$15.60 /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%
$681,740
Cap Rate 7%
$486,957
Cap Rate 9%
$378,744
Alternative Uses
Best Use
Flex RnD
$487.0K
$426.1K – $568.1K
NOI $34,087 @ 7.0% cap · market cap 3.43%
Second Best
Industrial
$443.4K
$387.9K – $517.3K
NOI $31,035 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,424 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,366
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 Industrial in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex/office building with warehouse space and outdoor area.
Where is this flex space located?
The property is located at 1305 S Inca St Denver, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Great location near Santa Fe Drive and W. Mississippi Ave.; 3,654 SF Flex/Office building with flexible usage: warehouse and office/residence.; Zoned I‑A industrial in Denver.
