Modern Flex Space with Fenced
New
For Sale
Contact for pricing
12860 E SMITH RD, Aurora, CO
Recently built flex facility combining warehouse functionality, finished offices, drive-in access, and secured outdoor space.
Property Size9,200 SF
Lot Size0.86 Acres
Price / SF$353.26
Days on Market5
Property Features for 12860 E SMITH RD
General Information
Standard status
Active
Size
9,200 SF
Lot size
0.86 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
4,400 SF
Office Build-Out
4,800 SF
Drive-In Doors
3
Building Details
Year Built
2024
Building Size
9,200 SF
Listing Agency:
Core Commercial Brokerage (CO)
Listed By:
Parker Curry · License #EA100076936
(719) 822-1880
Source:
Crexi
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 5:51AM
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 Core Commercial Brokerage (CO)
Investment Insights
Based on property information with market context.
Built in 2024, this flex facility contains approximately ±9,200 SF across a balanced mix of industrial and office space. The layout includes approximately ±4,400 SF of warehouse area and ±4,800 SF of two-level office space, with three 10’ × 12’ drive-in doors supporting direct loading access. A fully fenced yard adds secured outdoor functionality, and additional adjacent yard space is available for purchase.
The property occupies ±0.86 acres at 12860 E Smith Rd in Aurora, Colorado. Regional connections include approximately 5 minutes to I-70/Pena Boulevard and I-70/I-225, 12 minutes to I-70/I-25, and 20 minutes to DIA and Downtown Denver. Completed in 2024, the building offers modern construction and finished office improvements for an owner-user seeking combined warehouse, office, and yard capacity.
The property occupies ±0.86 acres at 12860 E Smith Rd in Aurora, Colorado. Regional connections include approximately 5 minutes to I-70/Pena Boulevard and I-70/I-225, 12 minutes to I-70/I-25, and 20 minutes to DIA and Downtown Denver. Completed in 2024, the building offers modern construction and finished office improvements for an owner-user seeking combined warehouse, office, and yard capacity.
Key Highlights
- ±9,200 SF flex facility built in 2024
- Approximately ±4,400 SF warehouse and ±4,800 SF two‑level office space
- Three 10’ × 12’ drive‑in doors
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
$135,535
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
4.17%
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%
$2,710,700
$2.7M
Cap Rate 7%
$1,936,214
$1.9M
Cap Rate 9%
$1,505,944
$1.5M
Market Conditions
NOI Build-Up for 9,200 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
$168.9K $18.36/SF
− Vacancy
−$9.5K −$1.03/SF
EGI
$159.5K $17.33/SF
− OpEx
−$23.9K −$2.60/SF
NOI
$135.5K $14.73/SF
Area
Aurora, CO
Vacancy
5.60%
Lease Rate
$18.36 /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%
$2,710,700
Cap Rate 7%
$1,936,214
Cap Rate 9%
$1,505,944
Alternative Uses
Best Use
Warehouse
$1.94M
$1.69M – $2.26M
NOI $135,535 @ 7.0% cap · market cap 4.17%
Second Best
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,436 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,952 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Recently built flex facility combining warehouse functionality, finished offices, drive-in access, and secured outdoor space.
Where is this flex space located?
The property is located at 12860 E SMITH RD Aurora, CO.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: ±9,200 SF flex facility built in 2024; Approximately ±4,400 SF warehouse and ±4,800 SF two‑level office space; Three 10’ × 12’ drive‑in doors
