Flex Space with Attached
New
For Sale
$599,000
4393 Pierson Street, Wheat Ridge, CO 80033
C-1 commercial zoning complements the office, workroom, storage, and vehicle-oriented configuration.
Property Size1,143 SF
Price / SF$289.51
Days on Market4
Property Features for 4393 Pierson Street
General Information
Standard status
Active
Size
1,143 SF
Class
C
Total Parking Spaces
1
Property subtype
Commercial
Zoning
C-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$12,551
Amenities
break room
secure gated parking
Building Details
Building Size
1,143 SF
Year Built
1951
Units
1
Listing Agency:
MODUS Real Estate
(303) 305-9400
Listed By:
Charles Moore
(303) 305-9400
Source:
Coloradopartners
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 12:04PM
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 MODUS Real Estate
Investment Insights
Based on property information with market context.
Built in 1951, this 2,069-square-foot flex property combines office and operational space in a practical commercial layout. The interior includes five enclosed offices, open work areas, and a break room, while the attached garage provides space for equipment or inventory. A new roof was installed in 2025.
The property includes gated rear parking and storage, along with room for 6-7 vehicles at the front. Its Wheat Ridge location provides access to I-70 and the 44th Ave corridor, with connectivity toward Denver and Golden. C-1 zoning is identified for commercial use, and the existing office/storage arrangement supports continued use in that format, subject to local verification.
The property includes gated rear parking and storage, along with room for 6-7 vehicles at the front. Its Wheat Ridge location provides access to I-70 and the 44th Ave corridor, with connectivity toward Denver and Golden. C-1 zoning is identified for commercial use, and the existing office/storage arrangement supports continued use in that format, subject to local verification.
Key Highlights
- 2,069 SF flex property with office, work areas, break room, and storage
- Five enclosed offices plus open work areas
- Attached garage for equipment or inventory
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
$27,882
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
4.65%
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%
$557,640
$557.6K
Cap Rate 7%
$398,314
$398.3K
Cap Rate 9%
$309,800
$309.8K
Market Conditions
NOI Build-Up for 2,069 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
$42.0K $20.28/SF
− Vacancy
−$4.8K −$2.31/SF
EGI
$37.2K $17.97/SF
− OpEx
−$9.3K −$4.49/SF
NOI
$27.9K $13.48/SF
Area
Jefferson County, CO
Vacancy
11.40%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
25.00%
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%
$557,640
Cap Rate 7%
$398,314
Cap Rate 9%
$309,800
Alternative Uses
Best Use
Office B
$398.3K
$348.5K – $464.7K
NOI $27,882 @ 7.0% cap · market cap 4.65%
Second Best
Flex RnD
$248.2K
$217.1K – $289.5K
NOI $17,371 @ 7.0% cap · market cap 2.90%
Theoretical Best
Multifamily LT 5
$4.60M
$4.03M – $5.37M
NOI $322,299 @ 7.0% cap · market cap 53.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80033, CO
26,618
Population
13,257
Households
2
Avg Household Size
42
Median Age
44%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
3,207
Density / Sq Mi
$84,719
Median Household Income
$53,503
Median Earnings
$1,536
Median Rent
$568,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Blind Pig Mobile Pour — 3693 Taft Ct, Wheat Ridge, CO 80033
Frequently Asked Questions
What type of property is this?
Flex space - C-1 commercial zoning complements the office, workroom, storage, and vehicle-oriented configuration.
Where is this flex space located?
The property is located at 4393 Pierson Street Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,069 SF flex property with office, work areas, break room, and storage; Five enclosed offices plus open work areas; Attached garage for equipment or inventory
