Owner-User Office Building with
For Sale
$1,950,000
10488 W 6th Pl, Lakewood, CO 80215
Owner-user office building delivered 100% vacant, with substantial open-plan areas and a 2008-installed elevator for accessibility.
Property Size10,791 SF
Lot Size0.81 Acres
Price / SF$180.71
Days on Market25
Property Features for 10488 W 6th Pl
General Information
Standard status
Active
Size
10,791 SF
Elevators
Yes
Lot size
0.81 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Highly Functional 10,791 SF Building
0.806 Acres Site Exceptional Parking Ratio - 4/1,000
Brand-New Elevator Installed in 2008
Building Details
Building Size
10,791 SF
Year Built
1973
Buildings
1
Parking Ratio
4 per 1,000 SF
Owner Occupied
No
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2013
Listed By:
Erik Enstad · License #License(s): CO: FA.100089977
(303) 328-2013
Source:
Marcusmillichap
Added: Jul 29
Changed: Aug 15
Last Checked: Aug 22 at 3:37AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
10488 W 6th Pl presents a highly functional owner-user office building totaling 10,791 square feet. The property is being delivered 100% vacant, giving an incoming owner immediate occupancy and the flexibility to tailor the space to operational needs. Inside, substantial open-plan areas support a range of medical, professional office, or specialized service workflows.
Set on 0.806 acres, the site includes abundant parking with an exceptional four to 1,000 square foot ratio. The building is positioned along 6th Avenue for strong visibility and signage potential, with connectivity to Downtown Denver, the Federal Center, Colorado School of Mines, I-70, and C-470. A brand-new elevator installed in 2008 enhances building accessibility and supports multi-level utilization.
Constructed in 1973, the property offers a straightforward footprint for organizations seeking control of their workspace and on-site parking for employees, clients, and visitors.
Set on 0.806 acres, the site includes abundant parking with an exceptional four to 1,000 square foot ratio. The building is positioned along 6th Avenue for strong visibility and signage potential, with connectivity to Downtown Denver, the Federal Center, Colorado School of Mines, I-70, and C-470. A brand-new elevator installed in 2008 enhances building accessibility and supports multi-level utilization.
Constructed in 1973, the property offers a straightforward footprint for organizations seeking control of their workspace and on-site parking for employees, clients, and visitors.
Key Highlights
- 10,791‑square‑foot owner‑user office building delivered 100% vacant
- 0.806‑acre site with abundant parking at a four‑to‑1,000 SF ratio
- Substantial open‑plan areas suited to office and specialized service use
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
$162,383
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
8.33%
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%
$3,247,660
$3.2M
Cap Rate 7%
$2,319,757
$2.3M
Cap Rate 9%
$1,804,256
$1.8M
Market Conditions
NOI Build-Up for 10,791 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
$284.9K $26.40/SF
− Vacancy
−$68.4K −$6.34/SF
EGI
$216.5K $20.06/SF
− OpEx
−$54.1K −$5.02/SF
NOI
$162.4K $15.05/SF
Area
Lakewood, CO
Vacancy
24.00%
Lease Rate
$26.40 /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%
$3,247,660
Cap Rate 7%
$2,319,757
Cap Rate 9%
$1,804,256
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.71M
NOI $162,383 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,248 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 80215, CO
19,908
Population
9,156
Households
2.2
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
5.5 sq mi
ZIP Area
3,620
Density / Sq Mi
$85,017
Median Household Income
$49,100
Median Earnings
$1,728
Median Rent
$615,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Owner-user office building delivered 100% vacant, with substantial open-plan areas and a 2008-installed elevator for accessibility.
Where is this office building located?
The property is located at 10488 W 6th Pl Lakewood, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,791‑square‑foot owner‑user office building delivered 100% vacant; 0.806‑acre site with abundant parking at a four‑to‑1,000 SF ratio; Substantial open‑plan areas suited to office and specialized service use
