29-Unit Industrial Storage
For Sale
$1,347,000
3351 W 71st Pl, Westminster, CO 80030
Two-building storage property with short-term leases and individual grade-level access.
Property Size10,000 SF
Price / SF$134.70
Days on Market150
Property Features for 3351 W 71st Pl
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Warehouse
Amenities
Two-Building 10,000-Square-Foot Industrial Storage Facility Situated on 0.60 Acres
Featuring 29 Units (250-500 Square Feet) and 36 Grade Doors Measuring 14'
Located Eight Miles North of Downtown Denver | Proximity to I-76, I-70, and I-25
95% Occupied on Below-Market Short-Term Leases, Creating Value-Add Opportunity
2.8% Vacancy Rate Among Comparables | Positive 12-Month Net Absorption
Building Details
Building Size
10,000 SF
Year Built
1997
Listing Agency:
Denver Office
(303) 328-2016
Listed By:
Alyssa Tomback · License #CO: FA.100087968
(303) 328-2016
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 11:58AM
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 Denver Office
Investment Insights
Based on property information with market context.
This self-storage property comprises two metal buildings totaling approximately 10,000 square feet on 0.60 acres. The 29-unit layout includes spaces from 250 to 500 square feet, with each unit providing a 14-foot grade-level door. The buildings offer 16-foot clear height and were constructed in 1997. Occupancy is 95 percent, with short-term leases in place.
The property is located at 3351 W 71st Pl in Westminster, Colorado, just off North Federal Boulevard. Interstates 76, 70, and 25 are nearby, and Downtown Denver is approximately eight miles south. The asset is positioned within the Northwest Denver industrial submarket, which contains 18.3 million square feet of industrial space.
The property is located at 3351 W 71st Pl in Westminster, Colorado, just off North Federal Boulevard. Interstates 76, 70, and 25 are nearby, and Downtown Denver is approximately eight miles south. The asset is positioned within the Northwest Denver industrial submarket, which contains 18.3 million square feet of industrial space.
Key Highlights
- 29 units ranging from 250 to 500 square feet
- Approximately 10,000 square feet of industrial storage space
- Two metal buildings on 0.60 acres
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
$106,596
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
7.91%
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%
$2,131,920
$2.1M
Cap Rate 7%
$1,522,800
$1.5M
Cap Rate 9%
$1,184,400
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$162.0K $16.20/SF
− Vacancy
−$9.7K −$0.97/SF
EGI
$152.3K $15.23/SF
− OpEx
−$45.7K −$4.57/SF
NOI
$106.6K $10.66/SF
Area
Westminster, CO
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,131,920
Cap Rate 7%
$1,522,800
Cap Rate 9%
$1,184,400
Alternative Uses
Best Use
Self Storage
$1.52M
$1.33M – $1.78M
NOI $106,596 @ 7.0% cap · market cap 7.91%
Second Best
Warehouse
$1.13M
$989.4K – $1.32M
NOI $79,150 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,600 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 80030, CO
15,885
Population
6,823
Households
2.3
Avg Household Size
36
Median Age
30%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
6,110
Density / Sq Mi
$61,964
Median Household Income
$43,004
Median Earnings
$1,296
Median Rent
$422,300
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?
Self storage facility - Two-building storage property with short-term leases and individual grade-level access.
Where is this self storage facility located?
The property is located at 3351 W 71st Pl Westminster, CO.
What is the asking price?
The asking price for this property is $1,347,000.
What are key features of this property?
This property features: 29 units ranging from 250 to 500 square feet; Approximately 10,000 square feet of industrial storage space; Two metal buildings on 0.60 acres
