Denver Warehouse/Industrial Building For
For Sale
Contact for pricing
3535 S Irving St, Englewood, CO 80110
Heavily powered warehouse/industrial building in Southwest Denver with great potential.
Property Size35,624 SF
Price / SF$102.46
Days on Market150
Property Features for 3535 S Irving St
General Information
Standard status
Active
Size
35,624 SF
Property subtype
Industrial
Zoning
BUS-LI
Building Details
Year Built
1963
Listing Agency:
Madison Commercial Properties Ltd
(720) 257-5183
Listed By:
Nick Jurgens · License #CO FA100073889
Source:
Crexi
Added: Mar 17
Changed: Aug 12
Last Checked: Aug 12 at 9:06AM
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 Madison Commercial Properties Ltd
Investment Insights
Based on property information with market context.
Located in Southwest Denver, this warehouse/industrial manufacturing building is available for purchase. The property is heavily powered and presents an opportunity for both business owners seeking an operating space and investors looking for a value-add building. The building is currently multi-tenant, with two month-to-month agreements and one tenant vacating in May of 2024. The property offers convenient access to various areas within the Denver Metropolitan Statistical Area and benefits from visibility from Highway 285. Additionally, the property is situated in an Opportunity Zone. The building size is 35,624 square feet.
Key Highlights
- Heavily powered warehouse/industrial manufacturing building.
- Owner financing available.
- Value‑add opportunity at a lower $/sf entry point.
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
$324,699
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
8.90%
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%
$6,493,980
$6.5M
Cap Rate 7%
$4,638,557
$4.6M
Cap Rate 9%
$3,607,767
$3.6M
Market Conditions
NOI Build-Up for 35,624 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
$412.5K $11.58/SF
− Vacancy
−$30.5K −$0.86/SF
EGI
$382.0K $10.72/SF
− OpEx
−$57.3K −$1.61/SF
NOI
$324.7K $9.11/SF
Area
Arapahoe County, CO
Vacancy
7.40%
Lease Rate
$11.58 /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%
$6,493,980
Cap Rate 7%
$4,638,557
Cap Rate 9%
$3,607,767
Alternative Uses
Best Use
Warehouse
$4.64M
$4.06M – $5.41M
NOI $324,699 @ 7.0% cap · market cap 8.90%
Second Best
Industrial
$3.82M
$3.34M – $4.46M
NOI $267,399 @ 7.0% cap · market cap 7.33%
Theoretical Best
Multifamily LT 5
$528.90M
$462.79M – $617.05M
NOI $37,023,181 @ 7.0% cap · market cap 1,014.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 80110, CO
23,279
Population
10,804
Households
2.2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
3,637
Density / Sq Mi
$82,037
Median Household Income
$50,406
Median Earnings
$1,582
Median Rent
$455,600
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?
Manufacturing property - Heavily powered warehouse/industrial building in Southwest Denver with great potential.
Where is this manufacturing property located?
The property is located at 3535 S Irving St Englewood, CO.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: Heavily powered warehouse/industrial manufacturing building.; Owner financing available.; Value‑add opportunity at a lower $/sf entry point.
