Creative Space with High
For Sale
$1,044,000
6600 E 74th Ave, Commerce City, CO 80022
Leased creative building with financial advantages and long-term growth potential.
Property Size5,261 SF
Price / SF$198.44
Days on Market107
Property Features for 6600 E 74th Ave
General Information
Standard status
Active
Size
5,261 SF
Property subtype
Commercial
Building Details
Year Built
1960
Listing Agency:
(401) 323-4606
Listed By:
Jeanie King
(401) 323-4606
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 7 at 12:43AM
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 Jeanie King
Investment Insights
Based on property information with market context.
This 5,261 square foot building is currently 100% leased and used as private art studios. The interior features 20-foot ceilings, abundant natural light, and large windows and doors. It is designed to inspire and perform, creating an open, energizing environment suitable for creative, studio, office, or production uses. The building offers flexibility for an owner-user or investor to occupy half the space while leasing the remaining portion for income. There are two private outdoor areas. One private patio opens directly from the interior, while a second patio is available for shared use by the entire building. Located within an Enterprise Zone, this property may deliver financial incentives. The city may match up to $25,000 in exterior improvements. All major updates were completed in 2017. Qualified projects may benefit from reduced development costs, accelerated permitting, and rebates on permit fees and sales/use taxes for construction materials. Advantages include workforce hiring and training assistance, executive relocation support, and supply chain referrals. The city’s Enterprise Zone designation provides state income tax credits for new equipment purchases, job creation, and R&D expenditures, along with exemptions on state sales/use tax for manufacturing equipment. Businesses may also access the Commercial Catalyst Program for façade and signage improvements as well as energy cost savings through utility incentive programs. The bike score is 43, the walk score is 58, and the transit score is 28.
Key Highlights
- 100% leased 5,261 SF building with potential for up to 30% rent increases.
- Located in an Enterprise Zone with city matching up to $25,000 in exterior improvements.
- Flexible for owner‑user or investor: occupy half, lease the rest.
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
$95,171
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
9.12%
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%
$1,903,420
$1.9M
Cap Rate 7%
$1,359,586
$1.4M
Cap Rate 9%
$1,057,456
$1.1M
Market Conditions
NOI Build-Up for 5,261 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
$157.8K $30.00/SF
− Vacancy
−$30.9K −$5.88/SF
EGI
$126.9K $24.12/SF
− OpEx
−$31.7K −$6.03/SF
NOI
$95.2K $18.09/SF
Area
Adams County, CO
Vacancy
19.60%
Lease Rate
$30.00 /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%
$1,903,420
Cap Rate 7%
$1,359,586
Cap Rate 9%
$1,057,456
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,171 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.41M
$67.73M – $90.31M
NOI $5,418,375 @ 7.0% cap · market cap 519.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 80022, CO
57,432
Population
19,929
Households
2.9
Avg Household Size
32
Median Age
22%
College-Educated
80%
High-School Grad
79.6 sq mi
ZIP Area
722
Density / Sq Mi
$98,858
Median Household Income
$50,575
Median Earnings
$1,507
Median Rent
$448,400
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?
Creative space - Leased creative building with financial advantages and long-term growth potential.
Where is this creative space located?
The property is located at 6600 E 74th Ave Commerce City, CO.
What is the asking price?
The asking price for this property is $1,044,000.
What are key features of this property?
This property features: 100% leased 5,261 SF building with potential for up to 30% rent increases.; Located in an Enterprise Zone with city matching up to $25,000 in exterior improvements.; Flexible for owner‑user or investor: occupy half, lease the rest.
