3-Unit Flex
For Sale
Contact for pricing
535-543 N Denver Ave, Loveland, CO 80537
Showroom and warehouse configuration with private offices, restrooms, and a full kitchen.
Property Size6,717 SF
Price / SF$192.79
Days on Market10
Property Features for 535-543 N Denver Ave
General Information
Standard status
Active
Size
6,717 SF
Property subtype
Industrial
Zoning
I - Developing Industrial
Building Details
Year Built
2000
Units
3
Listing Agency:
Fuller Real Estate
(720) 974-2794
Listed By:
Jason Russ · License #CO
Source:
Crexi
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 4:42AM
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 Fuller Real Estate
Investment Insights
Based on property information with market context.
This 3-unit flex property at Anasazi Business Park combines showroom and warehouse functionality within 6,717 square feet. The interior includes 3 private offices, 3 restrooms, and a full kitchen. Constructed in 2000, the property is zoned I - Developing Industrial.
The contiguous condo units occupy the northeastern corner of the business park, with visibility from North Denver Avenue. The property is located at 535-543 N Denver Ave in eastern Loveland, Colorado.
The contiguous condo units occupy the northeastern corner of the business park, with visibility from North Denver Avenue. The property is located at 535-543 N Denver Ave in eastern Loveland, Colorado.
Key Highlights
- 3 contiguous condo units totaling 6,717 square feet
- Showroom and warehouse configuration
- 3 private offices and 3 restrooms
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
$72,328
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
5.59%
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%
$1,446,560
$1.4M
Cap Rate 7%
$1,033,257
$1.0M
Cap Rate 9%
$803,644
$803.6K
Market Conditions
NOI Build-Up for 6,717 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
$93.1K $13.86/SF
− Vacancy
−$8.0K −$1.19/SF
EGI
$85.1K $12.67/SF
− OpEx
−$12.8K −$1.90/SF
NOI
$72.3K $10.77/SF
Area
Larimer County, CO
Vacancy
8.60%
Lease Rate
$13.86 /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%
$1,446,560
Cap Rate 7%
$1,033,257
Cap Rate 9%
$803,644
Alternative Uses
Best Use
Warehouse
$1.03M
$904.1K – $1.21M
NOI $72,328 @ 7.0% cap · market cap 5.59%
Second Best
Industrial
$850.9K
$744.6K – $992.7K
NOI $59,564 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,207 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Showroom and warehouse configuration with private offices, restrooms, and a full kitchen.
Where is this flex space located?
The property is located at 535-543 N Denver Ave Loveland, CO.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 3 contiguous condo units totaling 6,717 square feet; Showroom and warehouse configuration; 3 private offices and 3 restrooms
