Industrial Flex Condo
For Sale
Contact for pricing
332 Norfolk Street Suite G, Aurora, CO 80011
Flex layout pairs front office with clear-height warehouse space and secure fenced outdoor storage for light industrial and service use.
Property Size1,500 SF
Price / SF$433.33
Days on Market63
Property Features for 332 Norfolk Street Suite G
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Industrial
Zoning
I-1 (Business/Tech District)
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
13 ft
Drive-In Doors
1
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1999
Listing Agency:
NavPoint Real Estate Group
(720) 420-7530
Listed By:
Matthew Call · License #FA.100011543
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 12 at 12:22PM
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 NavPoint Real Estate Group
Investment Insights
Based on property information with market context.
This 1,500 SF industrial/flex condominium unit combines front-loaded office space (approximately 25%) with rear warehouse space, supported by practical, operations-focused layout. Built in 1999, the unit includes 13' clear heights and one grade-level overhead door for day-to-day loading and movement. In addition to the indoor space, there is approximately 1,700 SF of secure, fenced outdoor storage, providing dedicated room for materials, equipment, or other operational needs that benefit from outdoor access.
Located at 332 Norfolk Street, Suite G, in Aurora, CO, the property is zoned I-1 (Business/Tech District). The unit is part of a flexible condominium offering that may suit a range of trade-oriented operators seeking both indoor capacity and fenced yard space for storage.
For owner-users, this configuration supports companies that need a mix of customer-facing or administrative space and functional warehouse area in the same footprint. The secure outdoor yard can help streamline storage and workflows for light industrial, service, and storage operations. For tenants or buyers needing more space, Units G and H are two identical, side-by-side units that may be purchased together for approximately 3,000 contiguous SF, along with expanded secured yard areas.
Located at 332 Norfolk Street, Suite G, in Aurora, CO, the property is zoned I-1 (Business/Tech District). The unit is part of a flexible condominium offering that may suit a range of trade-oriented operators seeking both indoor capacity and fenced yard space for storage.
For owner-users, this configuration supports companies that need a mix of customer-facing or administrative space and functional warehouse area in the same footprint. The secure outdoor yard can help streamline storage and workflows for light industrial, service, and storage operations. For tenants or buyers needing more space, Units G and H are two identical, side-by-side units that may be purchased together for approximately 3,000 contiguous SF, along with expanded secured yard areas.
Key Highlights
- ±1,500 SF industrial/flex condominium unit with front‑loaded office (~25%) and rear warehouse space
- 13' clear heights with one grade‑level overhead door
- Includes approx. ±1,700 SF secure, fenced outdoor storage area
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
$18,776
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
2.89%
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%
$375,520
$375.5K
Cap Rate 7%
$268,229
$268.2K
Cap Rate 9%
$208,622
$208.6K
Market Conditions
NOI Build-Up for 1,500 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
$32.9K $21.96/SF
− Vacancy
−$7.9K −$5.27/SF
EGI
$25.0K $16.69/SF
− OpEx
−$6.3K −$4.17/SF
NOI
$18.8K $12.52/SF
Area
ZIP 80011
Vacancy
24.00%
Lease Rate
$21.96 /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%
$375,520
Cap Rate 7%
$268,229
Cap Rate 9%
$208,622
Alternative Uses
Best Use
Office B
$268.2K
$234.7K – $312.9K
NOI $18,776 @ 7.0% cap · market cap 2.89%
Second Best
Warehouse
$207.6K
$181.6K – $242.2K
NOI $14,530 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$346.0K
$302.7K – $403.6K
NOI $24,217 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80011, CO
54,254
Population
19,108
Households
2.8
Avg Household Size
32
Median Age
19%
College-Educated
76%
High-School Grad
20.4 sq mi
ZIP Area
2,660
Density / Sq Mi
$69,719
Median Household Income
$36,853
Median Earnings
$1,607
Median Rent
$367,200
Median Home Value
Market
Vacancy Rate% for Office 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 layout pairs front office with clear-height warehouse space and secure fenced outdoor storage for light industrial and service use.
Where is this flex space located?
The property is located at 332 Norfolk Street Suite G Aurora, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: ±1,500 SF industrial/flex condominium unit with front‑loaded office (~25%) and rear warehouse space; 13' clear heights with one grade‑level overhead door; Includes approx. ±1,700 SF secure, fenced outdoor storage area
