Building Details

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Listing Agency: Gibbons-White Inc

Listed By: Michael-Ryan McCarty · License #CO FA.040029628 Show Phone

Source: Crexi

Added: Sep 24, 2024 Changed: Oct 25 Last Checked: Oct 26 at 3:50PM

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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 Gibbons-White Inc

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Investment Insights

Based on property information with market context.

This flex space property features 16-foot clear warehouse, manufacturing, and R&D space, along with spacious second-floor open work areas and perimeter offices. The property includes large windows, conference rooms, an elevator, and shower and locker rooms. It has three dock-high overhead doors with drive-in access and a dock leveler. Situated on a 1.15-acre lot (50,139 sq. ft.), the property provides 75 parking spaces (3.5:1,000 Sq. Ft.) and mature trees with landscaping. The property is leased to Giant Bicycle through March 2026.

Key Highlights

• Leased to Giant Bicycle through March 2026
• 3 Dock‑High Overhead Doors with Drive‑In Access & Dock Leveler
• 16' Clear Warehouse, Manufacturing & R&D Space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$208,077

Cap Rate

3.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,161,540 $4.2M

Cap Rate 7%

$2,972,529 $3.0M

Cap Rate 9%

$2,311,967 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 22,065 SF

Gross rent

$344.2K $15.60/SF

− Vacancy

−$24.1K −$1.09/SF

EGI

$320.1K $14.51/SF

− OpEx

−$112.0K −$5.08/SF

NOI

$208.1K $9.43/SF

Area

Boulder, CO

Vacancy

7.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,161,540

Cap Rate 7%

$2,972,529

Cap Rate 9%

$2,311,967

Alternative Uses

Best Use

Flex RnD

$2.97M

$2.60M – $3.47M (±1% cap)

NOI $208,077 @ 7.0% cap · market cap 3.78%

Second Best

Industrial

$2.81M

$2.46M – $3.28M (±1% cap)

NOI $196,736 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$7.46M

$6.52M – $8.70M (±1% cap)

NOI $521,934 @ 7.0% cap · market cap 9.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Stages Cycling Factory Foundation Fitness Regional ... Big Box & Wholesale Store

Suggested Use

Top Pick Hair Salon Parking Lot & Garage Grocery & Convenience Store (Bike/Boat/Book/etc) Store Furniture & Home Goods Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

956

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 80301, CO

25,944

Population

12,644

Households

2.1

Avg Household Size

38

Median Age

69%

College-Educated

97%

High-School Grad

28.6 sq mi

ZIP Area

907

Density / Sq Mi

$92,974

Median Household Income

$52,325

Median Earnings

$1,999

Median Rent

$761,500

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex space featuring warehouse, manufacturing, R&D space, and office areas.

Where is this flex space located?

The property is located at 5335 Sterling Dr Boulder, CO.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Leased to Giant Bicycle through March 2026; 3 Dock‑High Overhead Doors with Drive‑In Access & Dock Leveler; 16' Clear Warehouse, Manufacturing & R&D Space