Manufacturing Building with
For Sale
$4,500,000
3788 Wheeling Street, Aurora, CO 80011
Remodeled office space accompanies a mechanically equipped industrial facility with shop cooling and integrated drainage.
Property Size16,524 SF
Days on Market18
Property Features for 3788 Wheeling Street
General Information
Standard status
Active
Size
16,524 SF
Property subtype
Industrial
Building Details
Building Size
16,524 SF
Year Built
1978
Listing Agency:
Lee & Associates - Denver
(303) 885-3055
Listed By:
JR Bitzer · License #CO #FA.040016542
Source:
Lee-associates
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 31 at 2:24PM
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 Lee & Associates - Denver
Investment Insights
Based on property information with market context.
This manufacturing property includes a shop supported by one 10-ton crane, one 2-ton crane, lifts, a tire machine, other mechanical equipment, air lines, and compressors. Trench floor drains extend throughout the facility, with a sand-oil interceptor serving the shop. The office area has been remodeled, and a new swamp cooler provides shop cooling.
The building offers access to I-70 and I-225. A new roof was installed in 2023, and the property was originally built in 1978. The combination of overhead lifting capacity, mechanical equipment, drainage infrastructure, compressed-air systems, and office improvements supports a range of manufacturing and industrial operations.
The building offers access to I-70 and I-225. A new roof was installed in 2023, and the property was originally built in 1978. The combination of overhead lifting capacity, mechanical equipment, drainage infrastructure, compressed-air systems, and office improvements supports a range of manufacturing and industrial operations.
Key Highlights
- One 10‑ton crane and one 2‑ton crane
- Lifts, tire machine, and other mechanical equipment included
- Trench floor drains throughout with sand‑oil interceptor
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
$130,814
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
2.91%
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%
$2,616,280
$2.6M
Cap Rate 7%
$1,868,771
$1.9M
Cap Rate 9%
$1,453,489
$1.5M
Market Conditions
NOI Build-Up for 16,524 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
$204.2K $12.36/SF
− Vacancy
−$17.4K −$1.05/SF
EGI
$186.9K $11.31/SF
− OpEx
−$56.1K −$3.39/SF
NOI
$130.8K $7.92/SF
Area
ZIP 80011
Vacancy
8.50%
Lease Rate
$12.36 /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%
$2,616,280
Cap Rate 7%
$1,868,771
Cap Rate 9%
$1,453,489
Alternative Uses
Best Use
Industrial
$1.87M
$1.64M – $2.18M
NOI $130,814 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.81M
$3.33M – $4.45M
NOI $266,777 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Remodeled office space accompanies a mechanically equipped industrial facility with shop cooling and integrated drainage.
Where is this manufacturing property located?
The property is located at 3788 Wheeling Street Aurora, CO.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: One 10‑ton crane and one 2‑ton crane; Lifts, tire machine, and other mechanical equipment included; Trench floor drains throughout with sand‑oil interceptor
