Renovated Multi-Tenant Industrial
For Sale
Contact for pricing
2101 S Platte River Dr, Denver, CO 80223
Recently renovated industrial property with income potential in Denver.
Property Size15,144 SF
Price / SF$204.70
Days on Market206
Property Features for 2101 S Platte River Dr
General Information
Standard status
Active
Size
15,144 SF
Property subtype
Industrial
Zoning
I-A
Occupancy
70%
Net Operating Income
$171,648
Building Details
Year Built
1986
Year Renovated
2023
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Unique Properties, Inc
(303) 521-3648
Listed By:
Greg Knott · License #CO FA.001312096
Source:
Crexi
Added: Jan 30
Changed: Aug 17
Last Checked: Aug 14 at 7:24AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
This is a 15,144 square foot multi-tenant industrial property that was recently renovated in 2023. It is located in a premier industrial submarket of Denver. The property offers excellent visibility and a desirable small-bay configuration. It is suitable for an owner-user or investor. A new owner can occupy up to 4,590 square feet while benefiting from in-place income and the flexibility to expand. Alternatively, an investor can acquire a largely stabilized asset. The property has a diverse tenant mix, including service-oriented users, physical therapy, and auto detailing. It offers strong functionality, income stability, and long-term flexibility.
Key Highlights
- Recently renovated in 2023, offering a modernized industrial asset.
- 15,144 SF multi‑tenant industrial property in a premier Denver industrial submarket.
- Opportunity for immediate owner occupancy of up to 4,590 SF with in‑place income.
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
$141,275
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
4.56%
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%
$2,825,500
$2.8M
Cap Rate 7%
$2,018,214
$2.0M
Cap Rate 9%
$1,569,722
$1.6M
Market Conditions
NOI Build-Up for 15,144 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
$236.2K $15.60/SF
− Vacancy
−$18.9K −$1.25/SF
EGI
$217.3K $14.35/SF
− OpEx
−$76.1K −$5.02/SF
NOI
$141.3K $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%
$2,825,500
Cap Rate 7%
$2,018,214
Cap Rate 9%
$1,569,722
Alternative Uses
Best Use
Flex RnD
$2.02M
$1.77M – $2.35M
NOI $141,275 @ 7.0% cap · market cap 4.56%
Second Best
Industrial
$1.84M
$1.61M – $2.14M
NOI $128,624 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$4.82M
$4.22M – $5.62M
NOI $337,462 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Under-served
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 Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Recently renovated industrial property with income potential in Denver.
Where is this flex space located?
The property is located at 2101 S Platte River Dr Denver, CO.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Recently renovated in 2023, offering a modernized industrial asset.; 15,144 SF multi‑tenant industrial property in a premier Denver industrial submarket.; Opportunity for immediate owner occupancy of up to 4,590 SF with in‑place income.
