Flex Building with Garage
New
For Sale
Contact for pricing
2195 Evans Ave, Denver, CO 80223
Flexible industrial space offers oversized garage access, office area, coated floors, and multiple entry points.
Property Size5,000 SF
Price / SF$250
Days on Market6
Property Features for 2195 Evans Ave
General Information
Standard status
Active
Size
5,000 SF
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Listing Agency:
Northpeak Commercial Advisors
(303) 917-5232
Listed By:
Drew Williams · License #FA100099403
Source:
Moodyscre
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 17 at 6:37AM
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 Northpeak Commercial Advisors
Investment Insights
Based on property information with market context.
This 5,000 SF flex building combines retail and industrial functionality in a configuration suited to owner-user or investor consideration. The property includes multiple oversized garage doors, a warehouse-to-office layout, coated floors, and several access points that support varied operational needs.
Located at 2195 Evans Ave in Denver, the property fronts West Evans Avenue and sits near Santa Fe Drive. Its street position provides direct access for employees, customers, and delivery vehicles, while the building’s garage access and flexible interior arrangement support a range of industrial operations.
Located at 2195 Evans Ave in Denver, the property fronts West Evans Avenue and sits near Santa Fe Drive. Its street position provides direct access for employees, customers, and delivery vehicles, while the building’s garage access and flexible interior arrangement support a range of industrial operations.
Key Highlights
- 5,000 SF retail/industrial flex building
- Multiple oversized garage doors
- Warehouse‑to‑office configuration
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
$51,668
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
4.13%
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%
$1,033,360
$1.0M
Cap Rate 7%
$738,114
$738.1K
Cap Rate 9%
$574,089
$574.1K
Market Conditions
NOI Build-Up for 5,000 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
$66.0K $13.20/SF
− Vacancy
−$5.2K −$1.04/SF
EGI
$60.8K $12.16/SF
− OpEx
−$9.1K −$1.82/SF
NOI
$51.7K $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%
$1,033,360
Cap Rate 7%
$738,114
Cap Rate 9%
$574,089
Alternative Uses
Best Use
Warehouse
$738.1K
$645.9K – $861.1K
NOI $51,668 @ 7.0% cap · market cap 4.13%
Second Best
Flex RnD
$666.3K
$583.1K – $777.4K
NOI $46,644 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,418 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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 - Flexible industrial space offers oversized garage access, office area, coated floors, and multiple entry points.
Where is this flex space located?
The property is located at 2195 Evans Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,000 SF retail/industrial flex building; Multiple oversized garage doors; Warehouse‑to‑office configuration
