Industrial Flex Condo For
For Sale
$575,000
Pending
497 Denver #497, Loveland, CO 80537
2,800 SF industrial/flex condo ideal for light industrial use.
Property Size2,800 SF
Lot Size0.35 Acres
Days on Market286
Property Features for 497 Denver #497
General Information
Standard status
Pending
Size
2,800 SF
Lot size
0.35 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,906
Amenities
Central air
Metal Roof
Central Air Cooling
Forced Air Heating
Building Details
Year Built
2001
Listing Agency:
Cushman & Wakefield
(970) 776-3900
Listed By:
TRAVIS ACKERMAN · License #100014006
Source:
Corcoran
Added: Nov 13, 2025
Changed: Aug 23
Last Checked: Aug 14 at 7:23AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This 2,800 SF industrial/flex condo features two open office/workspaces and a reception area. The warehouse includes a 14' x 14' grade level overhead door and a 16' ceiling height. Additional warehouse features include a workbench, storage area, and air lines. Located in Denver Avenue Commercial Park, this space is suitable for light industrial or distribution use.
Key Highlights
- 2,800 SF industrial/flex condo ideal for light industrial or distribution.
- Features a 14' x 14' grade level overhead door for easy loading.
- 16' ceiling height** in the warehouse.
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
$24,829
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
4.32%
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%
$496,580
$496.6K
Cap Rate 7%
$354,700
$354.7K
Cap Rate 9%
$275,878
$275.9K
Market Conditions
NOI Build-Up for 2,800 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
$38.8K $13.86/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$35.5K $12.67/SF
− OpEx
−$10.6K −$3.80/SF
NOI
$24.8K $8.87/SF
Area
Larimer County, CO
Vacancy
8.60%
Lease Rate
$13.86 /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%
$496,580
Cap Rate 7%
$354,700
Cap Rate 9%
$275,878
Alternative Uses
Best Use
Industrial
$354.7K
$310.4K – $413.8K
NOI $24,829 @ 7.0% cap · market cap 4.32%
Second Best
Flex RnD
$329.4K
$288.2K – $384.3K
NOI $23,056 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$751.6K
$657.6K – $876.8K
NOI $52,610 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80537, CO
43,603
Population
20,314
Households
2.1
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
122.4 sq mi
ZIP Area
356
Density / Sq Mi
$83,746
Median Household Income
$44,448
Median Earnings
$1,630
Median Rent
$460,100
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 - 2,800 SF industrial/flex condo ideal for light industrial use.
Where is this flex space located?
The property is located at 497 Denver #497 Loveland, CO.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,800 SF industrial/flex condo ideal for light industrial or distribution.; Features a **14' x 14' grade level overhead door** for easy loading.; 16' ceiling height** in the warehouse.
