Condo Warehouse Hangar
For Sale
Contact for pricing
3000 Airport Drive, Erie, CO 80516
Condo warehouse hangar unit with two drive-in overhead doors, reception/showroom space, and a mezzanine.
Property Size6,250 SF
Price / SF$240
Days on Market199
Property Features for 3000 Airport Drive
General Information
Standard status
Active
Size
6,250 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Drive-In Doors
2
Amenities
modern kitchen
restroom with shower
radiant heating
Listing Agency:
Dean Callan & Company
(303) 449-1420
Listed By:
Christian Smith · License #COLORADO100054055
(720) 530-0174
Source:
Moodyscre
Added: Feb 25
Changed: Sep 5
Last Checked: Sep 12 at 7:23AM
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 Dean Callan & Company
Investment Insights
Based on property information with market context.
This condo warehouse hangar unit is configured for both aircraft and industrial use, featuring two large drive-in overhead doors with a removable center post for flexible vehicle access. The ground floor includes a reception or showroom area with a modern kitchen and a restroom with shower. A separate mezzanine level provides additional space that can serve multiple operational needs, supported by radiant heating throughout. The interior is fully drywalled and heated for year-round comfort.
The property is located at Erie Municipal Airport at 3000 Airport Drive, Unit 404. It is positioned for convenient regional connectivity with proximity to US-287, I-25, and Northwest Parkway.
For prospective users, the overall layout combines vehicle access, a front-facing reception/showroom component, and an upper mezzanine area, supported by in-unit comfort systems and a flexible drive setup designed for larger equipment.
The property is located at Erie Municipal Airport at 3000 Airport Drive, Unit 404. It is positioned for convenient regional connectivity with proximity to US-287, I-25, and Northwest Parkway.
For prospective users, the overall layout combines vehicle access, a front-facing reception/showroom component, and an upper mezzanine area, supported by in-unit comfort systems and a flexible drive setup designed for larger equipment.
Key Highlights
- 6,250 SF condo warehouse hangar unit at Erie Municipal Airport, 3000 Airport Drive, Unit 404, Erie, CO 80516
- Two massive drive‑in overhead doors, including a removable center post for parking aircraft and loading oversized items
- 1,250 SF ground‑floor reception/showroom area with a modern kitchen and a restroom with shower
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
$91,991
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
6.13%
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%
$1,839,820
$1.8M
Cap Rate 7%
$1,314,157
$1.3M
Cap Rate 9%
$1,022,122
$1.0M
Market Conditions
NOI Build-Up for 6,250 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
$112.5K $18.00/SF
− Vacancy
−$4.3K −$0.68/SF
EGI
$108.2K $17.32/SF
− OpEx
−$16.2K −$2.60/SF
NOI
$92.0K $14.72/SF
Area
Boulder County, CO
Vacancy
3.80%
Lease Rate
$18.00 /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%
$1,839,820
Cap Rate 7%
$1,314,157
Cap Rate 9%
$1,022,122
Alternative Uses
Best Use
Warehouse
$1.31M
$1.15M – $1.53M
NOI $91,991 @ 7.0% cap · market cap 6.13%
Second Best
Flex RnD
$1.12M
$976.8K – $1.30M
NOI $78,146 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,000 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 80516, CO
34,376
Population
13,163
Households
2.6
Avg Household Size
37
Median Age
64%
College-Educated
97%
High-School Grad
40.5 sq mi
ZIP Area
849
Density / Sq Mi
$160,590
Median Household Income
$75,277
Median Earnings
$2,718
Median Rent
$683,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Condo warehouse hangar unit with two drive-in overhead doors, reception/showroom space, and a mezzanine.
Where is this aviation real estate located?
The property is located at 3000 Airport Drive Erie, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,250 SF condo warehouse hangar unit at Erie Municipal Airport, 3000 Airport Drive, Unit 404, Erie, CO 80516; Two massive drive‑in overhead doors, including a removable center post for parking aircraft and loading oversized items; 1,250 SF ground‑floor reception/showroom area with a modern kitchen and a restroom with shower
