Single-Tenant Industrial
For Sale
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1440 S Lipan St, Denver, CO 80223
Metal and masonry warehouse with 16-foot clear height, two dock-high doors, and ample parking on 1.18 acres.
Property Size30,888 SF
Lot Size1.18 Acres
Price / SF$121.41
Days on Market210
Property Features for 1440 S Lipan St
General Information
Standard status
Active
Size
30,888 SF
Class
B
Lot size
1.18 Acres
Property subtype
Industrial
Zoning
I-MX-3
Occupancy
100%
Lease Type
NNN
Net Operating Income
$372,792
Warehouse & Industrial
Clear Height
16 ft
Dock-High Doors
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1964
Year Renovated
2006
Buildings
1
Units
1
Tenancy
Single
Construction
metal and masonry
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Thimy Moraitis · License #CO 100088159
Source:
Crexi
Added: Feb 11
Changed: Sep 4
Last Checked: Sep 9 at 6:04AM
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.
This single-tenant industrial warehouse totals 30,888 square feet and sits on 1.18 acres. Constructed with metal and masonry, the facility offers 16-foot clear heights and includes two dock-high doors to support loading and receiving operations. The site also provides ample parking for daily operations.
The property is positioned along the BNSF rail line and near major highways, including I-25, supporting connectivity for transportation and logistics.
With a warehouse design and functional loading configuration, the building is suited for industrial storage, manufacturing, or distribution activities within an operations-focused layout.
The property is positioned along the BNSF rail line and near major highways, including I-25, supporting connectivity for transportation and logistics.
With a warehouse design and functional loading configuration, the building is suited for industrial storage, manufacturing, or distribution activities within an operations-focused layout.
Key Highlights
- Single‑tenant industrial warehouse totaling 30,888 SF on 1.18 acres
- Metal and masonry construction with 16‑foot clear height
- Two dock‑high doors for loading and receiving
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
$319,185
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
8.51%
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%
$6,383,700
$6.4M
Cap Rate 7%
$4,559,786
$4.6M
Cap Rate 9%
$3,546,500
$3.5M
Market Conditions
NOI Build-Up for 30,888 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
$407.7K $13.20/SF
− Vacancy
−$32.2K −$1.04/SF
EGI
$375.5K $12.16/SF
− OpEx
−$56.3K −$1.82/SF
NOI
$319.2K $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%
$6,383,700
Cap Rate 7%
$4,559,786
Cap Rate 9%
$3,546,500
Alternative Uses
Best Use
Warehouse
$4.56M
$3.99M – $5.32M
NOI $319,185 @ 7.0% cap · market cap 8.51%
Second Best
Industrial
$3.75M
$3.28M – $4.37M
NOI $262,344 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$9.83M
$8.60M – $11.47M
NOI $688,293 @ 7.0% cap · market cap 18.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
2
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
861
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
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Metal and masonry warehouse with 16-foot clear height, two dock-high doors, and ample parking on 1.18 acres.
Where is this warehouse located?
The property is located at 1440 S Lipan St Denver, CO.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Single‑tenant industrial warehouse totaling 30,888 SF on 1.18 acres; Metal and masonry construction with 16‑foot clear height; Two dock‑high doors for loading and receiving
