Flex Space with Loading
For Sale
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1898 S Flatiron Ct, Boulder, CO 80301
Reinforced-concrete flex facility with industrial power, truck loading, parking, and divisible office-warehouse configurations.
Property Size41,377 SF
Lot Size2.55 Acres
Price / SF$215.10
Days on Market267
Property Features for 1898 S Flatiron Ct
General Information
Standard status
Active
Size
41,377 SF
Total Parking Spaces
121
Lot size
2.55 Acres
Property subtype
INDUSTRIAL
Zoning
IG
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
5
Power
2,000 amps
Voltage
208 V
Three-Phase Power
Yes
Amenities
EV charging station
bike racks
storage sheds
Building Details
Year Built
1974
Construction
reinforced concrete
Listing Agency:
Dean Callan & Company
(303) 817-8657
Listed By:
Hunter Barto · License #FA.040042321
(303) 817-8657
Source:
Moodyscre
Added: Dec 8, 2025
Changed: Aug 31
Last Checked: Aug 31 at 8:05PM
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 Dean Callan & Company
Investment Insights
Based on property information with market context.
This 41,377-square-foot flex facility occupies 2.55 acres and was built in 1974 with reinforced-concrete construction. The warehouse offers 18-foot clear height, five loading docks, and truck maneuvering capacity suited to heavy loading requirements. Interior configurations can be divided into smaller office and warehouse suites, with ancillary storage sheds featuring overhead doors.
The property is in Flatiron Park/east Boulder at 1898 S Flatiron Ct. IG zoning supports flex, warehouse, manufacturing, industrial, and office uses. Building infrastructure includes 2,000 amps with 208v three-phase panels and 480v service, a 2-inch water line, and a 72 kW solar photovoltaic system. Additional site features include 121 parking stalls, an EV charging station, bike racks, room for additional parking, and LEED certification.
The property is in Flatiron Park/east Boulder at 1898 S Flatiron Ct. IG zoning supports flex, warehouse, manufacturing, industrial, and office uses. Building infrastructure includes 2,000 amps with 208v three-phase panels and 480v service, a 2-inch water line, and a 72 kW solar photovoltaic system. Additional site features include 121 parking stalls, an EV charging station, bike racks, room for additional parking, and LEED certification.
Key Highlights
- 41,377‑square‑foot flex facility on 2.55 acres
- 18' warehouse clear height with 5 loading docks
- 2,000 amps with 208v 3‑phase panels plus 480v service
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
$447,980
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
5.03%
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%
$8,959,600
$9.0M
Cap Rate 7%
$6,399,714
$6.4M
Cap Rate 9%
$4,977,556
$5.0M
Market Conditions
NOI Build-Up for 41,377 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
$571.0K $13.80/SF
− Vacancy
−$44.0K −$1.06/SF
EGI
$527.0K $12.74/SF
− OpEx
−$79.1K −$1.91/SF
NOI
$448.0K $10.83/SF
Area
Boulder, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$8,959,600
Cap Rate 7%
$6,399,714
Cap Rate 9%
$4,977,556
Alternative Uses
Best Use
Warehouse
$6.40M
$5.60M – $7.47M
NOI $447,980 @ 7.0% cap · market cap 5.03%
Second Best
Flex RnD
$5.57M
$4.88M – $6.50M
NOI $390,193 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$13.98M
$12.23M – $16.31M
NOI $978,748 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
5
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80301, CO
25,944
Population
12,644
Households
2.1
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
28.6 sq mi
ZIP Area
907
Density / Sq Mi
$92,974
Median Household Income
$52,325
Median Earnings
$1,999
Median Rent
$761,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Reinforced-concrete flex facility with industrial power, truck loading, parking, and divisible office-warehouse configurations.
Where is this flex space located?
The property is located at 1898 S Flatiron Ct Boulder, CO.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: 41,377‑square‑foot flex facility on 2.55 acres; 18' warehouse clear height with 5 loading docks; 2,000 amps with 208v 3‑phase panels plus 480v service
