I-B Zoned Commercial
For Sale
$800,000
5187 Fillmore Street, Denver, CO 80216
The site offers access to I-70 and I-25 within an established industrial and commercial corridor.
Property Size6,107 SF
Days on Market13
Property Features for 5187 Fillmore Street
General Information
Standard status
Active
Size
6,107 SF
Class
C
Total Parking Spaces
4
Property subtype
Commercial
Zoning
I-B
Taxes and HOA fees
Annual Taxes
$17,767
Building Details
Building Size
6,107 SF
Year Built
1886
Listing Agency:
Berkshire Hathaway HomeServices Colorado Real Estate, LLC - Brighton
(303) 862-0252
Listed By:
Tonya Sargent
(303) 862-0252
Source:
Coloradopartners
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 12 at 1:09PM
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 Berkshire Hathaway HomeServices Colorado Real Estate, LLC - Brighton
Investment Insights
Based on property information with market context.
This I-B zoned commercial land is positioned for industrial, warehouse, or distribution-oriented development. The property is located at 5187 Fillmore Street in Denver and carries Opportunity Zone designation. Its setting includes a mix of industrial and commercial businesses, with access to both I-70 and I-25.
An adjacent 0.3874-acre parcel at 5182 Thompson Ct. is also available. That parcel includes two garage bays, covered parking, 3-phase electrical service, storage, and an upstairs office. A separate 10,125 sf lot on Thompson Ct., along with other surrounding parcels, may also be acquired. The additional property was previously used for an owner-operated auto parts dealership.
An adjacent 0.3874-acre parcel at 5182 Thompson Ct. is also available. That parcel includes two garage bays, covered parking, 3-phase electrical service, storage, and an upstairs office. A separate 10,125 sf lot on Thompson Ct., along with other surrounding parcels, may also be acquired. The additional property was previously used for an owner-operated auto parts dealership.
Key Highlights
- I‑B zoning at 5187 Fillmore Street
- Access to I‑70 and I‑25
- Opportunity Zone designation
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
$63,107
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
7.89%
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%
$1,262,140
$1.3M
Cap Rate 7%
$901,529
$901.5K
Cap Rate 9%
$701,189
$701.2K
Market Conditions
NOI Build-Up for 6,107 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
$80.6K $13.20/SF
− Vacancy
−$6.4K −$1.04/SF
EGI
$74.2K $12.16/SF
− OpEx
−$11.1K −$1.82/SF
NOI
$63.1K $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%
$1,262,140
Cap Rate 7%
$901,529
Cap Rate 9%
$701,189
Alternative Uses
Best Use
Warehouse
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 7.89%
Second Best
Industrial
$741.0K
$648.4K – $864.5K
NOI $51,869 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,085 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
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?
Commercial land - The site offers access to I-70 and I-25 within an established industrial and commercial corridor.
Where is this commercial land located?
The property is located at 5187 Fillmore Street Denver, CO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: I‑B zoning at 5187 Fillmore Street; Access to I‑70 and I‑25; Opportunity Zone designation
