Building Details

Year Built 2013

Listing Agency: NORTHPEAK Commercial Advisors

Listed By: Drew Williams · License #FA 100099403 Show Phone

Source: Crexi

Added: Mar 3 Changed: Oct 25 Last Checked: Oct 24 at 3:22PM

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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

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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.

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 / Yr

$51,668

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,033,360 $1.0M

Cap Rate 7%

$738,114 $738.1K

Cap Rate 9%

$574,089 $574.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

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 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 (±1% cap)

NOI $51,668 @ 7.0% cap · market cap 4.40%

Second Best

Flex RnD

$666.3K

$583.1K – $777.4K (±1% cap)

NOI $46,644 @ 7.0% cap · market cap 3.97%

Theoretical Best

Office A

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,418 @ 7.0% cap · market cap 9.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Denver Mobile Billboards Marketing & Advertising Bravo Media Marketing & Advertising A Five Star Limousine Limousine Service Colorado Mountain Limousine Moving Company Denver Party Bus, ... Limousine Service

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Skin Care Clinic Parking Lot & Garage Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

840

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

5.8% 2019

6.2% 2020

5.9% 2021

6.6% 2022

7% 2023

7.7% 2024

8.1% 2025

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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 W Evans Ave Denver, CO.

What is the asking price?

The asking price for this property is $1,175,000.

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