Denver Flex/Warehouse Building For
For Sale
Contact for pricing
1640 S Broadway, Denver, CO 80210
Well-maintained flex/warehouse building with office space and parking.
Property Size10,309 SF
Price / SF$203.22
Days on Market164
Property Features for 1640 S Broadway
General Information
Standard status
Active
Size
10,309 SF
Property subtype
Industrial, Office
Zoning
U-MS-3
Investment Type
Owner/User
Building Details
Year Built
1977
Stories
2
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2020
Listed By:
Brandon Kramer · License #CO FA100045203
Source:
Crexi
Added: Mar 12
Changed: Aug 14
Last Checked: Aug 14 at 12:31PM
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.
Located at 1640 S Broadway in Denver, Colorado, this flex/warehouse property offers approximately 10,913 square feet across two floors. The property includes roughly 30 percent dedicated office space, providing a balanced configuration suitable for a variety of operational or tenant uses. A detached garage space measures approximately 720 square feet, providing additional storage or service capacity. Constructed with durable masonry and concrete floors, the property features a functional industrial layout with a main-floor warehouse offering approximately 10-foot clearance and a second-floor warehouse area with approximately eight feet of clearance. Operational efficiency is enhanced by a freight elevator, allowing for seamless vertical movement of equipment and inventory. The facility is further equipped with one dock door and one drive-in door providing convenient warehouse access, as well as three-phase, 400-amp power to support a range of industrial or light manufacturing users. An on-site parking lot provides convenience for employees, customers, or service vehicles. Zoned U-MS-3, the property offers flexibility for multiple commercial or mixed-use applications. Situated along the Broadway corridor just south of Interstate 25, the location provides accessibility and visibility within a well-established commercial area. This property represents an appealing opportunity for investors seeking to acquire a well-located flex building in a dynamic corridor with long-term usability and strong potential for tenant demand.
Key Highlights
- Prime location on the highly sought‑after Broadway corridor, south of Interstate 25, offering excellent accessibility and visibility.
- Flexible U‑MS‑3 zoning allows for multiple commercial or mixed‑use applications.
- Approximately 10,913 square feet flex/warehouse space with a balanced configuration of office and warehouse areas.
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
$96,171
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
4.59%
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%
$1,923,420
$1.9M
Cap Rate 7%
$1,373,871
$1.4M
Cap Rate 9%
$1,068,567
$1.1M
Market Conditions
NOI Build-Up for 10,309 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
$160.8K $15.60/SF
− Vacancy
−$12.9K −$1.25/SF
EGI
$148.0K $14.35/SF
− OpEx
−$51.8K −$5.02/SF
NOI
$96.2K $9.33/SF
Area
Denver, CO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,923,420
Cap Rate 7%
$1,373,871
Cap Rate 9%
$1,068,567
Alternative Uses
Best Use
Flex RnD
$1.37M
$1.20M – $1.60M
NOI $96,171 @ 7.0% cap · market cap 4.59%
Second Best
Industrial
$1.25M
$1.09M – $1.46M
NOI $87,559 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,721 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12,867
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80210, CO
39,394
Population
18,496
Households
2.1
Avg Household Size
33
Median Age
76%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
6,458
Density / Sq Mi
$120,156
Median Household Income
$61,607
Median Earnings
$1,963
Median Rent
$870,500
Median Home Value
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex/warehouse building with office space and parking.
Where is this flex space located?
The property is located at 1640 S Broadway Denver, CO.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: Prime location on the highly sought‑after Broadway corridor, south of Interstate 25, offering excellent accessibility and visibility.; Flexible U‑MS‑3 zoning allows for multiple commercial or mixed‑use applications.; Approximately 10,913 square feet flex/warehouse space with a balanced configuration of office and warehouse areas.
