Flex Warehouse with Office
For Sale
Contact for pricing
3002 Sterling Cir, Boulder, CO 80301
Flex warehouse offers drive-in access, 16’ clear height, and office space with conference rooms and deck.
Property Size12,880 SF
Price / SF$312.04
Days on Market478
Property Features for 3002 Sterling Cir
General Information
Standard status
Active
Size
12,880 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Clear Height
16 ft
Amenities
conference rooms
small meeting rooms
kitchen
large private deck
private locker rooms with showers
solar
potential for exterior building signage
Building Details
Stories
2
Listing Agency:
Gibbons-White, Inc.
(303) 442-1040
Listed By:
Chris Boston · License #IR.040026406
(303) 586-5930
Source:
Moodyscre
Added: May 28, 2025
Changed: Sep 5
Last Checked: Sep 16 at 12:28PM
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 Gibbons-White, Inc.
Investment Insights
Based on property information with market context.
This flex warehouse property presents a strong owner-user setup with space configured at approximately 70% office and 30% flex/warehouse. The office is on the entire second floor, featuring a mostly open layout plus several conference rooms, small meeting rooms, a kitchen, and a large private deck. The office also includes tall, exposed ceilings and large windows wrapping the space.
The first-floor warehouse component is designed for operational use with drive-in door access, 16’ clear height, production rooms, and private locker rooms with showers. The building is also equipped with solar, and the savings are passed on to tenants.
The offering is described as an excellent opportunity to occupy up to 9,796 SF, with potential to expand into an additional 3,083 SF, subject to tenant lease timing. Exterior visibility is noted along Valmont Rd, with potential for exterior building signage, supporting branding for an operating company in Boulder, CO.
The first-floor warehouse component is designed for operational use with drive-in door access, 16’ clear height, production rooms, and private locker rooms with showers. The building is also equipped with solar, and the savings are passed on to tenants.
The offering is described as an excellent opportunity to occupy up to 9,796 SF, with potential to expand into an additional 3,083 SF, subject to tenant lease timing. Exterior visibility is noted along Valmont Rd, with potential for exterior building signage, supporting branding for an operating company in Boulder, CO.
Key Highlights
- Owner‑user option: occupy up to 9,796 SF, with potential to expand to the full 12,880 SF building
- First‑floor warehouse includes drive‑in door access and 16’ clear height, plus production rooms and private locker rooms with showers
- Office layout is mostly open with conference rooms, small meeting rooms, kitchen, and a large private deck
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
$181,067
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
4.51%
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%
$3,621,340
$3.6M
Cap Rate 7%
$2,586,671
$2.6M
Cap Rate 9%
$2,011,856
$2.0M
Market Conditions
NOI Build-Up for 12,880 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
$340.0K $26.40/SF
− Vacancy
−$98.6K −$7.66/SF
EGI
$241.4K $18.74/SF
− OpEx
−$60.4K −$4.69/SF
NOI
$181.1K $14.06/SF
Area
Boulder, CO
Vacancy
29.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,621,340
Cap Rate 7%
$2,586,671
Cap Rate 9%
$2,011,856
Alternative Uses
Best Use
Office B
$2.59M
$2.26M – $3.02M
NOI $181,067 @ 7.0% cap · market cap 4.51%
Second Best
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,449 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,669 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80301, CO
25,944
Population
12,644
Households
2.1
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
28.6 sq mi
ZIP Area
907
Density / Sq Mi
$92,974
Median Household Income
$52,325
Median Earnings
$1,999
Median Rent
$761,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Big Daddy's Texas BBQ — 2100 Central Ave, Boulder, CO 80301
- La Rue Bayou — 4920 Pearl St, Boulder, CO 80301
- Fig and Floret — 2995 55th St #17122, Boulder, CO 80308
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse offers drive-in access, 16’ clear height, and office space with conference rooms and deck.
Where is this flex space located?
The property is located at 3002 Sterling Cir Boulder, CO.
What is the asking price?
The asking price for this property is $4,019,100.
What are key features of this property?
This property features: Owner‑user option: occupy up to 9,796 SF, with potential to expand to the full 12,880 SF building; First‑floor warehouse includes drive‑in door access and 16’ clear height, plus production rooms and private locker rooms with showers; Office layout is mostly open with conference rooms, small meeting rooms, kitchen, and a large private deck
