Office-Flex Warehouse
For Sale
Contact for pricing
5361-5399 S Alkire Cir, Littleton, CO 80127
Cold dark shell office-flex units with varying ceiling heights, plus drive-in and dock-high loading.
Property Size2,550 SF
Price / SF$249.20
Days on Market515
Property Features for 5361-5399 S Alkire Cir
General Information
Standard status
Active
Size
2,550 SF
Property subtype
FLEX_R_AND_D
Additional Details
Highway Access
Yes
Amenities
biking trails
hiking trails
signage
Building Details
Tenancy
Multi
Listing Agency:
Bartell & Company
Listed By:
Dan Bartell · License #000867805
(303) 753-9100
Source:
Moodyscre
Added: Apr 16, 2025
Changed: Sep 9
Last Checked: Sep 11 at 9:40AM
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 Bartell & Company
Investment Insights
Based on property information with market context.
This property offers office-flex, lab, and warehouse condo units, including office and build-to-suit options. Individual units may be purchased or leased, with sizes available from a minimum individual footprint up to the entire portfolio. All units are delivered as a cold dark shell, with varying height ceilings. Loading features include drive-in doors and dock-high doors in varying sizes.
Highly visible signage is available, and the property is adjacent to C-470. The site also provides access to biking and hiking trails.
Build-to-suit opportunities are available up to 250,000 SF, allowing flexibility for tenants or buyers seeking a customized layout while maintaining the same cold dark shell delivery concept for new improvements.
Highly visible signage is available, and the property is adjacent to C-470. The site also provides access to biking and hiking trails.
Build-to-suit opportunities are available up to 250,000 SF, allowing flexibility for tenants or buyers seeking a customized layout while maintaining the same cold dark shell delivery concept for new improvements.
Key Highlights
- Office‑flex condo units delivered as a cold dark shell (4,000 SF units up to the full 49,307 SF)
- Build‑to‑suit opportunities available up to 250,000 SF
- Varying height ceilings throughout the office‑flex space
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
$44,436
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
6.99%
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%
$888,720
$888.7K
Cap Rate 7%
$634,800
$634.8K
Cap Rate 9%
$493,733
$493.7K
Market Conditions
NOI Build-Up for 2,550 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
$71.3K $27.96/SF
− Vacancy
−$12.0K −$4.73/SF
EGI
$59.2K $23.23/SF
− OpEx
−$14.8K −$5.81/SF
NOI
$44.4K $17.43/SF
Area
Douglas County, CO
Vacancy
16.90%
Lease Rate
$27.96 /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%
$888,720
Cap Rate 7%
$634,800
Cap Rate 9%
$493,733
Alternative Uses
Best Use
Office B
$634.8K
$555.5K – $740.6K
NOI $44,436 @ 7.0% cap · market cap 6.99%
Second Best
Industrial
$519.9K
$454.9K – $606.5K
NOI $36,390 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$875.9K
$766.4K – $1.02M
NOI $61,311 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80127, CO
44,776
Population
17,507
Households
2.6
Avg Household Size
43
Median Age
60%
College-Educated
98%
High-School Grad
66.4 sq mi
ZIP Area
674
Density / Sq Mi
$137,753
Median Household Income
$70,039
Median Earnings
$2,102
Median Rent
$663,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Cold dark shell office-flex units with varying ceiling heights, plus drive-in and dock-high loading.
Where is this flex space located?
The property is located at 5361-5399 S Alkire Cir Littleton, CO.
What is the asking price?
The asking price for this property is $635,460.
What are key features of this property?
This property features: Office‑flex condo units delivered as a cold dark shell (4,000 SF units up to the full 49,307 SF); Build‑to‑suit opportunities available up to 250,000 SF; Varying height ceilings throughout the office‑flex space
