Updated Industrial Condo Near
For Sale
$650,000
4228 York #101, Denver, CO 80216
4,381 SF industrial condo, updated in 2023, near I-70.
Property Size4,381 SF
Lot Size0.10 Acres
Price / SF$148.37
Days on Market227
Property Features for 4228 York #101
General Information
Standard status
Active
Size
4,381 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,100
Amenities
Concrete Driveway
Level
Building Details
Year Built
1946
Listing Agency:
ONE AVENUE REALTY
(303) 803-3805
Listed By:
JAMES MAYL · License #100065598
(303) 591-0811
Source:
Corcoran
Added: Jan 21
Changed: Aug 8
Last Checked: Sep 4 at 9:34AM
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 ONE AVENUE REALTY
Investment Insights
Based on property information with market context.
This 4,381 SF industrial condo, originally built in 1946 and fully updated in 2023, presents an opportunity for owner-users or investors. The property is located in the heart of Metro Denver, with immediate access to I-70, providing strong proximity to regional and national transportation networks. The functional layout is suited for a variety of industrial uses, including manufacturing, distribution, or light industrial applications. Building features include 11' clear height, heavy 3-phase power, and a drive-in door. The property is zoned industrial and is located in a Federal Opportunity Zone, a Colorado Enterprise Zone, and is HUBZone-qualified. These zones offer potential capital gains tax deferral/reduction, state tax credit opportunities, and advantages for federal contracting, respectively. The property's location provides immediate access to regional and national transportation corridors.
Key Highlights
- Immediate access to I‑70 and regional/national transportation networks.
- Located in a Federal Opportunity Zone (potential capital gains tax deferral/reduction).
- Motivated Seller – Potential Concessions Available.
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
$45,272
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
6.96%
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%
$905,440
$905.4K
Cap Rate 7%
$646,743
$646.7K
Cap Rate 9%
$503,022
$503.0K
Market Conditions
NOI Build-Up for 4,381 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
$57.8K $13.20/SF
− Vacancy
−$4.6K −$1.04/SF
EGI
$53.3K $12.16/SF
− OpEx
−$8.0K −$1.82/SF
NOI
$45.3K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /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%
$905,440
Cap Rate 7%
$646,743
Cap Rate 9%
$503,022
Alternative Uses
Best Use
Warehouse
$646.7K
$565.9K – $754.5K
NOI $45,272 @ 7.0% cap · market cap 6.96%
Second Best
Flex RnD
$583.8K
$510.9K – $681.2K
NOI $40,869 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,624 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 80216, CO
15,915
Population
6,924
Households
2.3
Avg Household Size
31
Median Age
38%
College-Educated
76%
High-School Grad
10.1 sq mi
ZIP Area
1,576
Density / Sq Mi
$86,869
Median Household Income
$49,966
Median Earnings
$1,934
Median Rent
$392,500
Median Home Value
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 4,381 SF industrial condo, updated in 2023, near I-70.
Where is this manufacturing property located?
The property is located at 4228 York #101 Denver, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Immediate access to I‑70 and regional/national transportation networks.; Located in a Federal Opportunity Zone (potential capital gains tax deferral/reduction).; Motivated Seller – Potential Concessions Available.
