Denver Airport Area
For Sale
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16921 E 32nd Ave, Aurora, CO 80011
Recently renovated Wyndham franchise hotel near Denver International Airport.
Property Size44,000 SF
Price / SF$188.64
Days on Market144
Property Features for 16921 E 32nd Ave
General Information
Standard status
Active
Size
44,000 SF
Property subtype
Hospitality
Building Details
Year Built
1998
Listing Agency:
Madison Commercial Properties Ltd
Listed By:
Alex Kovacs · License #CO 0013134878
Source:
Crexi
Added: Mar 17
Changed: Jul 10
Last Checked: Aug 7 at 1:16AM
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 Madison Commercial Properties Ltd
Investment Insights
Based on property information with market context.
This Wyndham franchise hotel is located in the Denver International Airport hotel market. The property, converted from a Red Lion to a Ramada Inn in July 2021, underwent a full renovation in 2024, including new case goods, carpeting, and bathroom remodeling. The 44,000 square foot hotel features an indoor pool, exercise room, meeting room, and business center. It benefits from excellent QA scores and positive Trip Advisor reviews. Situated at the I-70 highway interchange with Airport Boulevard, the location provides access to highway business and DIA traffic. A large auto auction property next door serves as an additional source of revenue. Ten EV charging stations are being installed within the next several months. A freestanding Starbucks is planned for construction in 2026 adjacent to the hotel, with access from the subject entrance.
Key Highlights
- Fully renovated in 2024 with new case goods, carpeting, and bathroom remodeling.
- Excellent location at the I‑70 highway interchange with Airport Boulevard.
- Wyndham franchise hotel with excellent QA scores and positive Trip Advisor reviews.
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
$331,056
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
3.99%
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%
$6,621,120
$6.6M
Cap Rate 7%
$4,729,371
$4.7M
Cap Rate 9%
$3,678,400
$3.7M
Market Conditions
NOI Build-Up for 44,000 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
$792.0K $18.00/SF
− Vacancy
−$95.0K −$2.16/SF
EGI
$697.0K $15.84/SF
− OpEx
−$365.9K −$8.32/SF
NOI
$331.1K $7.52/SF
Area
ZIP 80011
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$6,621,120
Cap Rate 7%
$4,729,371
Cap Rate 9%
$3,678,400
Alternative Uses
Best Use
Hotel Hospitality
$4.73M
$4.14M – $5.52M
NOI $331,056 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.15M
$8.88M – $11.84M
NOI $710,371 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 80011, CO
54,254
Population
19,108
Households
2.8
Avg Household Size
32
Median Age
19%
College-Educated
76%
High-School Grad
20.4 sq mi
ZIP Area
2,660
Density / Sq Mi
$69,719
Median Household Income
$36,853
Median Earnings
$1,607
Median Rent
$367,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Recently renovated Wyndham franchise hotel near Denver International Airport.
Where is this hotel located?
The property is located at 16921 E 32nd Ave Aurora, CO.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: Fully renovated in 2024 with new case goods, carpeting, and bathroom remodeling.; Excellent location at the I‑70 highway interchange with Airport Boulevard.; Wyndham franchise hotel with excellent QA scores and positive Trip Advisor reviews.
