Multi-tenant Warehouse with Drive-In
For Sale
Contact for pricing
2101-2125 S Platte River Dr, Denver, CO 80223
Recently renovated multi-tenant warehouse with radiant heating in each unit and drive-in loading doors for tenant-ready functionality.
Property Size15,144 SF
Price / SF$204.70
Days on Market573
Property Features for 2101-2125 S Platte River Dr
General Information
Standard status
Active
Size
15,144 SF
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Clear Span
Yes
Building Details
Year Renovated
2023
Building Size
15,144 SF
Tenancy
Multi
Listing Agency:
Unique Properties, Inc.
(303) 521-3648
Listed By:
Greg Knott · License #FA.001312096
(303) 521-3648
Source:
Moodyscre
Added: Jan 29, 2025
Changed: Aug 8
Last Checked: Aug 24 at 12:48PM
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 recently renovated (2023) 15,144 SF multi-tenant warehouse offers a small-bay configuration and flexible occupancy for an owner-user or investor. The property includes radiant heating in each warehouse unit and free span (column free) spaces.
Each unit is supported by at least one, and in some cases two, drive-in loading doors sized 10’x12’. A new owner can occupy up to 4,590 SF immediately, while the remainder of the building provides income-producing space with one remaining vacancy currently being actively marketed.
Located as a well-positioned corner at Evans & S Platte River Dr in Denver’s industrial market, the tenant mix is described as diverse and includes service-oriented users, physical therapy, high-end auto detailing, and other complementary uses.
Each unit is supported by at least one, and in some cases two, drive-in loading doors sized 10’x12’. A new owner can occupy up to 4,590 SF immediately, while the remainder of the building provides income-producing space with one remaining vacancy currently being actively marketed.
Located as a well-positioned corner at Evans & S Platte River Dr in Denver’s industrial market, the tenant mix is described as diverse and includes service-oriented users, physical therapy, high-end auto detailing, and other complementary uses.
Key Highlights
- Recently renovated (2023) 15,144 SF multi‑tenant warehouse in a small‑bay configuration
- New owner can occupy up to 4,590 SF immediately
- Corner location at Evans & S Platte River Dr
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
$156,492
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
5.05%
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%
$3,129,840
$3.1M
Cap Rate 7%
$2,235,600
$2.2M
Cap Rate 9%
$1,738,800
$1.7M
Market Conditions
NOI Build-Up for 15,144 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
$199.9K $13.20/SF
− Vacancy
−$15.8K −$1.04/SF
EGI
$184.1K $12.16/SF
− OpEx
−$27.6K −$1.82/SF
NOI
$156.5K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /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%
$3,129,840
Cap Rate 7%
$2,235,600
Cap Rate 9%
$1,738,800
Alternative Uses
Best Use
Warehouse
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.82M
$4.22M – $5.62M
NOI $337,462 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Well-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?
Warehouse - Recently renovated multi-tenant warehouse with radiant heating in each unit and drive-in loading doors for tenant-ready functionality.
Where is this warehouse located?
The property is located at 2101-2125 S Platte River Dr Denver, CO.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Recently renovated (2023) 15,144 SF multi‑tenant warehouse in a small‑bay configuration; New owner can occupy up to 4,590 SF immediately; Corner location at Evans & S Platte River Dr
