Warehouse and Home
For Sale
$599,000
28743 Highway 52, Keenesburg, CO 80643
Includes a large insulated 65x32 shop with concrete floors, propane heat, and three overhead doors, plus water and septic.
Property Size2,080 SF
Price / SF$287.98
Days on Market79
Property Features for 28743 Highway 52
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Lots/Land
Additional Details
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$609
Listing Agency:
Select Realty LLC
(303) 717-3450
Listed By:
Zachary Brookman · License #100076225
(303) 717-3450
Source:
Exitrealty
Added: May 26
Changed: Aug 8
Last Checked: Aug 8 at 8:08AM
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 Select Realty LLC
Investment Insights
Based on property information with market context.
This offering includes a land parcel with an existing large shop featuring concrete floors, propane heat, insulation, water service, and three overhead doors. The property also has an existing septic system and includes a loafing shed, with two propane tanks included with the sale.
The site is located at 28743 Highway 52 in Keenesburg, CO. The seller notes the property provides views of a stream below and mountains above.
The combination of improved shop space and existing utilities makes the property workable for a wide range of on-site uses while retaining the ability to build a home on the parcel.
The site is located at 28743 Highway 52 in Keenesburg, CO. The seller notes the property provides views of a stream below and mountains above.
The combination of improved shop space and existing utilities makes the property workable for a wide range of on-site uses while retaining the ability to build a home on the parcel.
Key Highlights
- Large 65x32 shop with concrete floors
- Shop includes propane heat, insulated walls, and 3 overhead doors
- Property has water available to the shop
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
$23,202
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
3.87%
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%
$464,040
$464.0K
Cap Rate 7%
$331,457
$331.5K
Cap Rate 9%
$257,800
$257.8K
Market Conditions
NOI Build-Up for 2,080 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
$29.7K $14.28/SF
− Vacancy
−$2.4K −$1.16/SF
EGI
$27.3K $13.12/SF
− OpEx
−$4.1K −$1.97/SF
NOI
$23.2K $11.15/SF
Area
Weld County, CO
Vacancy
8.10%
Lease Rate
$14.28 /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%
$464,040
Cap Rate 7%
$331,457
Cap Rate 9%
$257,800
Alternative Uses
Best Use
Warehouse
$331.5K
$290.0K – $386.7K
NOI $23,202 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$379.1K
$331.7K – $442.3K
NOI $26,536 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 80643, CO
3,599
Population
1,620
Households
2.2
Avg Household Size
40
Median Age
16%
College-Educated
91%
High-School Grad
216.5 sq mi
ZIP Area
17
Density / Sq Mi
$88,125
Median Household Income
$49,317
Median Earnings
$1,686
Median Rent
$455,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Includes a large insulated 65x32 shop with concrete floors, propane heat, and three overhead doors, plus water and septic.
Where is this residential land & home lot located?
The property is located at 28743 Highway 52 Keenesburg, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Large 65x32 shop with concrete floors; Shop includes propane heat, insulated walls, and 3 overhead doors; Property has water available to the shop
