Versatile Flex Condominium with
For Sale
$359,000
Pending
374 Norfolk St, Aurora, CO 80011
Flex condo with drive-in door and fenced outdoor storage.
Property Size1,100 SF
Days on Market100
Property Features for 374 Norfolk St
General Information
Standard status
Pending
Size
1,100 SF
Property subtype
Commercial
Building Details
Year Built
2001
Listing Agency:
RE/MAX Leaders
(720) 222-5010
Listed By:
Alfredo Salcedo
(720) 222-5010
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 23 at 10:12AM
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 RE/MAX Leaders
Investment Insights
Based on property information with market context.
This flex condominium offers a unique opportunity, featuring a 12-foot drive-in door and a fenced outdoor storage area. The property is located just west of I-225 along East 6th Avenue. The unit includes approximately 300 square feet of finished office space and 1,100 square feet of warehouse area with a 13’10” ceiling height. The current tenant is paying $1,350 per month, and will vacate upon sale. Monthly Owners Association dues are $287. All square footage and measurements are approximate and should be independently verified by the buyer. The bike score is 51, indicating it is bikeable. The walk score is 15, indicating it is car-dependent. The transit score is 40, indicating some transit options are available.
Key Highlights
- Versatile flex condominium with a rare combination of a 12‑foot drive‑in door and fenced outdoor storage area.
- Excellent accessibility due to its location just west of I‑225 along East 6th Avenue.
- Significant potential for increased rental income, with market rents estimated at $2,300-$2,500 per month compared to the current rent of $1,350.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.6k | $12.36 |
| − Vacancy | −$1.1k | −$0.96 |
| EGI | $12.5k | $11.40 |
| − OpEx | −$1.9k | −$1.71 |
| NOI | $10.7k | $9.69 |
1,100 SF · lease $12.36/SF/yr · vacancy 7.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$152.2K
$133.2K – $177.6K
NOI $10,655 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$124.4K
$108.9K – $145.1K
NOI $8,708 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$253.7K
$222.0K – $296.0K
NOI $17,759 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Under-served
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 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 condo with drive-in door and fenced outdoor storage.
Where is this flex space located?
The property is located at 374 Norfolk St Aurora, CO.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Versatile flex condominium with a rare combination of a 12‑foot drive‑in door and fenced outdoor storage area.; Excellent accessibility due to its location just west of I‑225 along East 6th Avenue.; Significant potential for increased rental income, with market rents estimated at $2,300-$2,500 per month compared to the current rent of $1,350.
