Office Warehouse Flex
For Sale
$2,076,000
995 W Iliff Ave, Denver, CO 80223
Single-tenant office warehouse offers versatile loading, ample natural light, and heavy power.
Property Size11,200 SF
Days on Market50
Property Features for 995 W Iliff Ave
General Information
Standard status
Active
Size
11,200 SF
Property subtype
Industrial
Additional Details
Heavy Power
Yes
Building Details
Building Size
11,200 SF
Year Built
1963
Tenancy
Single
Listing Agency:
(303) 570-9641
Listed By:
Craig Myles, SIOR
Source:
Pinnaclerea
Added: Jul 12
Changed: Aug 12
Last Checked: Aug 29 at 6:14AM
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 Craig Myles, SIOR
Investment Insights
Based on property information with market context.
995 W Iliff Ave is a single-tenant office/warehouse property offering a flexible layout suited to industrial and service-oriented operations. The building includes versatile loading, ample natural light, and heavy power.
The property is located just off Evans Ave and Santa Fe Dr, providing convenient access to the surrounding area.
As a combined office and warehouse facility, it is designed to support both work space and light industrial functions within one tenant setup.
The property is located just off Evans Ave and Santa Fe Dr, providing convenient access to the surrounding area.
As a combined office and warehouse facility, it is designed to support both work space and light industrial functions within one tenant setup.
Key Highlights
- Single‑tenant office/warehouse building built in 1963
- Versatile loading for office/warehouse use
- Ample natural light throughout the building
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
$164,102
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
7.90%
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%
$3,282,040
$3.3M
Cap Rate 7%
$2,344,314
$2.3M
Cap Rate 9%
$1,823,356
$1.8M
Market Conditions
NOI Build-Up for 11,200 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
$295.7K $26.40/SF
− Vacancy
−$76.9K −$6.86/SF
EGI
$218.8K $19.54/SF
− OpEx
−$54.7K −$4.88/SF
NOI
$164.1K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
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%
$3,282,040
Cap Rate 7%
$2,344,314
Cap Rate 9%
$1,823,356
Alternative Uses
Best Use
Office B
$2.34M
$2.05M – $2.74M
NOI $164,102 @ 7.0% cap · market cap 7.90%
Second Best
Warehouse
$1.65M
$1.45M – $1.93M
NOI $115,737 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$3.57M
$3.12M – $4.16M
NOI $249,575 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
Balanced
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 Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant office warehouse offers versatile loading, ample natural light, and heavy power.
Where is this flex space located?
The property is located at 995 W Iliff Ave Denver, CO.
What is the asking price?
The asking price for this property is $2,076,000.
What are key features of this property?
This property features: Single‑tenant office/warehouse building built in 1963; Versatile loading for office/warehouse use; Ample natural light throughout the building
