Erie Flex Space on
For Sale
$1,490,000
3000 Airport Drive #406, Erie, CO 80516
Flex space with fantastic finishes located on Airport Drive.
Property Size5,000 SF
Lot Size0.11 Acres
Price / SF$298
Days on Market567
Property Features for 3000 Airport Drive #406
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,892
Amenities
110V
220 Volts
440 Volts
Phase 3
Single Phase
Building Details
Year Built
2017
Listing Agency:
MOUNTAIN EAST REAL ESTATE
(303) 828-2800
Listed By:
DEBORAH KLEPPE · License #100018113
Source:
Corcoran
Added: Jan 18, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:05AM
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 MOUNTAIN EAST REAL ESTATE
Investment Insights
Based on property information with market context.
This 5,000-square-foot flex space is located on Airport Drive. The property features notable finishes and ample power. A video walkthrough is available.
Key Highlights
- Fantastic finishes throughout
- Right on Airport Drive location
- Lots of power
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
$62,517
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
4.20%
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%
$1,250,340
$1.3M
Cap Rate 7%
$893,100
$893.1K
Cap Rate 9%
$694,633
$694.6K
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
$105.0K $21.00/SF
− Vacancy
−$8.8K −$1.76/SF
EGI
$96.2K $19.24/SF
− OpEx
−$33.7K −$6.73/SF
NOI
$62.5K $12.50/SF
Area
Boulder County, CO
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,250,340
Cap Rate 7%
$893,100
Cap Rate 9%
$694,633
Alternative Uses
Best Use
Flex RnD
$893.1K
$781.5K – $1.04M
NOI $62,517 @ 7.0% cap · market cap 4.20%
Second Best
Industrial
$865.8K
$757.6K – $1.01M
NOI $60,606 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,600 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with fantastic finishes located on Airport Drive.
Where is this flex space located?
The property is located at 3000 Airport Drive #406 Erie, CO.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Fantastic finishes throughout; Right on Airport Drive location; Lots of power
