Industrial Flex Condominium
New
For Sale
$2,674,875
2209-2219 S Jason St, Denver, CO 80223
Three separately configured units offer a mix of vacant space and an existing lease for flexible occupancy planning.
Property Size15,285 SF
Days on Market4
Property Features for 2209-2219 S Jason St
General Information
Standard status
Active
Size
15,285 SF
Property subtype
Industrial
Warehouse & Industrial
Drive-In Doors
3
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Asking Price
$2,674,875
Building Details
Building Size
15,285 SF
Year Built
1979
Tenancy
Multi
Listing Agency:
Unique Properties, Inc
(303) 668-3733
Listed By:
Brad Gilpin · License #EA.100007414
(303) 668-3733
Source:
Uniqueprop
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 5:38AM
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.
The property comprises three industrial condominium units at 2209-2219 S Jason St in Denver. Unit #2209 contains 4,766 SF and is leased through 6/30/2028, while Units #2211 and #2219 are vacant, measuring 5,258 SF and 5,261 SF, respectively. The combined configuration provides both current tenancy and available space within the same property.
Each unit is equipped with heavy 3-phase power, HVAC throughout, and an oversized drive-in door. Built in 1979, the industrial flex property supports a range of operational layouts across its individually defined condominium units.
Each unit is equipped with heavy 3-phase power, HVAC throughout, and an oversized drive-in door. Built in 1979, the industrial flex property supports a range of operational layouts across its individually defined condominium units.
Key Highlights
- Three industrial condominium units included
- Unit #2209: 4,766 SF, leased through 6/30/2028
- Unit #2211: 5,258 SF, vacant
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
$157,949
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
5.90%
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%
$3,158,980
$3.2M
Cap Rate 7%
$2,256,414
$2.3M
Cap Rate 9%
$1,754,989
$1.8M
Market Conditions
NOI Build-Up for 15,285 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
$201.8K $13.20/SF
− Vacancy
−$15.9K −$1.04/SF
EGI
$185.8K $12.16/SF
− OpEx
−$27.9K −$1.82/SF
NOI
$157.9K $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%
$3,158,980
Cap Rate 7%
$2,256,414
Cap Rate 9%
$1,754,989
Alternative Uses
Best Use
Warehouse
$2.26M
$1.97M – $2.63M
NOI $157,949 @ 7.0% cap · market cap 5.90%
Second Best
Flex RnD
$2.04M
$1.78M – $2.38M
NOI $142,591 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$4.87M
$4.26M – $5.68M
NOI $340,604 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Multi-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sapori D'Italia — 2065 S Cherokee St, Denver, CO 80223
- Fat Boy Q — 2780 S Raritan St, Englewood, CO 80110
Frequently Asked Questions
What type of property is this?
Flex space - Three separately configured units offer a mix of vacant space and an existing lease for flexible occupancy planning.
Where is this flex space located?
The property is located at 2209-2219 S Jason St Denver, CO.
What is the asking price?
The asking price for this property is $2,674,875.
What are key features of this property?
This property features: Three industrial condominium units included; Unit #2209: 4,766 SF, leased through 6/30/2028; Unit #2211: 5,258 SF, vacant
