Flex Space with
For Sale
Contact for pricing
3940 Carson Ave. Units 4 & 8, Evans, CO 80645
Commercial flex space offers office, storage, loading, and utility features for a range of business operations.
Property Size2,858 SF
Price / SF$235.13
Days on Market11
Property Features for 3940 Carson Ave. Units 4 & 8
General Information
Standard status
Active
Size
2,858 SF
Class
B
Property subtype
Industrial
Investment Type
Owner/User
Additional Details
Three-Phase Power
Yes
Building Details
Units
2
Listing Agency:
RE/MAX Commercial Alliance
(970) 330-5000
Listed By:
Gary Hogan · License #CO FA100068550
Source:
Crexi
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 29 at 4:23PM
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 Commercial Alliance
Investment Insights
Based on property information with market context.
This 2,858-square-foot flex space combines functional workspace with office and storage components. The property includes two offices, two bathrooms, a mezzanine area that can serve as additional office space, and a dedicated storage room. Floor drains and ample water support operational needs, while 3-phase power expands equipment compatibility.
Loading access is provided by two 14-foot overhead doors. Commercial HOA services include water and trash, simplifying those ongoing property responsibilities. The current owner/user will need time to vacate before possession.
Loading access is provided by two 14-foot overhead doors. Commercial HOA services include water and trash, simplifying those ongoing property responsibilities. The current owner/user will need time to vacate before possession.
Key Highlights
- 2,858 SF flex space
- 3‑phase power for commercial equipment
- Two 14‑foot overhead doors
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
$25,482
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
3.79%
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%
$509,640
$509.6K
Cap Rate 7%
$364,029
$364.0K
Cap Rate 9%
$283,133
$283.1K
Market Conditions
NOI Build-Up for 2,858 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
$39.4K $13.80/SF
− Vacancy
−$3.0K −$1.06/SF
EGI
$36.4K $12.74/SF
− OpEx
−$10.9K −$3.82/SF
NOI
$25.5K $8.92/SF
Area
Weld County, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$509,640
Cap Rate 7%
$364,029
Cap Rate 9%
$283,133
Alternative Uses
Best Use
Industrial
$364.0K
$318.5K – $424.7K
NOI $25,482 @ 7.0% cap · market cap 3.79%
Second Best
Flex RnD
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office B
$520.9K
$455.8K – $607.7K
NOI $36,461 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80645, CO
4,245
Population
1,774
Households
2.4
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
92.7 sq mi
ZIP Area
46
Density / Sq Mi
$84,327
Median Household Income
$41,765
Median Earnings
$1,248
Median Rent
$404,300
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?
Flex space - Commercial flex space offers office, storage, loading, and utility features for a range of business operations.
Where is this flex space located?
The property is located at 3940 Carson Ave. Units 4 & 8 Evans, CO.
What is the asking price?
The asking price for this property is $672,000.
What are key features of this property?
This property features: 2,858 SF flex space; 3‑phase power for commercial equipment; Two 14‑foot overhead doors
