Fully Sprinklered Industrial
For Sale
Contact for pricing
12790 38th Ave, Denver, CO 80239
Industrial warehouse featuring 20 clear height and six dock high doors, fully fire sprinklered for flexible owner-user or investment use.
Property Size40,000 SF
Price / SF$135
Days on Market88
Property Features for 12790 38th Ave
General Information
Standard status
Active
Size
40,000 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
6
Drive-In Doors
1
Column Spacing
40 x 25 ft
Power
800 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Building Details
Building Size
40,000 SF
Listing Agency:
Novel Commercial Real Estate
(303) 756-6871
Listed By:
Ilya Klein · License #IR.040017010
(303) 968-5515
Source:
Moodyscre
Added: Jun 19
Changed: Sep 9
Last Checked: Sep 13 at 6:38AM
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 Novel Commercial Real Estate
Investment Insights
Based on property information with market context.
This fully fire sprinklered industrial warehouse is set up for both owner-user and investment scenarios, with 40,000 SF of warehouse space. The facility offers 20’ clear height and includes six dock high doors, plus a drive-in door measuring 12’ x 14’ for straightforward inbound and outbound operations.
The warehouse column spacing is listed at 40’ x 25’, supporting material handling and efficient layout planning. The electrical service is noted as 800 amps of 277/480 3-phase power. Rail access is described as possible via Union Pacific.
Additional physical improvements include a new 20-year roof warranty. The property also notes 40’ x 25’ column spacing and includes 6 dock high doors to support logistics-focused tenant requirements.
The warehouse column spacing is listed at 40’ x 25’, supporting material handling and efficient layout planning. The electrical service is noted as 800 amps of 277/480 3-phase power. Rail access is described as possible via Union Pacific.
Additional physical improvements include a new 20-year roof warranty. The property also notes 40’ x 25’ column spacing and includes 6 dock high doors to support logistics-focused tenant requirements.
Key Highlights
- 40,000 SF industrial warehouse
- 20’ clear height
- Six dock high doors plus 12’ x 14’ drive‑in door
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
$438,789
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
8.13%
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%
$8,775,780
$8.8M
Cap Rate 7%
$6,268,414
$6.3M
Cap Rate 9%
$4,875,433
$4.9M
Market Conditions
NOI Build-Up for 40,000 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
$561.6K $14.04/SF
− Vacancy
−$45.4K −$1.13/SF
EGI
$516.2K $12.91/SF
− OpEx
−$77.4K −$1.94/SF
NOI
$438.8K $10.97/SF
Area
ZIP 80239
Vacancy
8.08%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
15.00%
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%
$8,775,780
Cap Rate 7%
$6,268,414
Cap Rate 9%
$4,875,433
Alternative Uses
Best Use
Warehouse
$6.27M
$5.48M – $7.31M
NOI $438,789 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.87M
$11.26M – $15.01M
NOI $900,891 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
6
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80239, CO
46,177
Population
13,892
Households
3.3
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
10.3 sq mi
ZIP Area
4,483
Density / Sq Mi
$86,661
Median Household Income
$41,106
Median Earnings
$1,903
Median Rent
$394,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse featuring 20 clear height and six dock high doors, fully fire sprinklered for flexible owner-user or investment use.
Where is this warehouse located?
The property is located at 12790 38th Ave Denver, CO.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 40,000 SF industrial warehouse; 20’ clear height; Six dock high doors plus 12’ x 14’ drive‑in door
