Office-Flex Warehouse Condo
For Sale
Contact for pricing
5361-5399 S Alkire Cir, Littleton, CO 80127
Condo units delivered as cold dark shell with drive-in doors and dock-high loading.
Property Size49,307 SF
Price / SF$249.20
Days on Market520
Property Features for 5361-5399 S Alkire Cir
General Information
Standard status
Active
Size
49,307 SF
Property subtype
FLEX_R_AND_D
Additional Details
Highway Access
Yes
Amenities
Highly visible signage
Access to biking and hiking trails
Building Details
Building Size
49,307 SF
Listing Agency:
Bartell & Company
Listed By:
Dan Bartell · License #000867805
(303) 753-9100
Source:
Moodyscre
Added: Apr 16, 2025
Changed: Sep 2
Last Checked: Sep 16 at 7:28PM
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 office-flex, warehouse-style property offers condo units that may be purchased or leased individually, with sizes starting at 4,000 SF up to the entire 49,307 SF. All space is delivered as a cold dark shell, allowing occupants to build out to suit. The facility includes varying height ceilings, along with drive-in doors and dock-high loading of varying sizes.
The property is located at 5361–5399 S Alkire Cir in Littleton, CO, with highly visible signage available and adjacency to C-470. Additional site amenities include access to biking and hiking trails, supporting a variety of day-to-day employee and operational needs.
Build-to-suit opportunities are also available up to 250,000 SF, offering flexibility for users whose requirements extend beyond the existing condo unit sizes.
The property is located at 5361–5399 S Alkire Cir in Littleton, CO, with highly visible signage available and adjacency to C-470. Additional site amenities include access to biking and hiking trails, supporting a variety of day-to-day employee and operational needs.
Build-to-suit opportunities are also available up to 250,000 SF, offering flexibility for users whose requirements extend beyond the existing condo unit sizes.
Key Highlights
- Condo office‑flex/lab/warehouse space delivered as a cold dark shell
- Units available individually starting at 4,000 SF up to 49,307 SF total
- Build‑to‑suit opportunities up to 250,000 SF
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
$53,371
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
5.73%
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%
$1,067,420
$1.1M
Cap Rate 7%
$762,443
$762.4K
Cap Rate 9%
$593,011
$593.0K
Market Conditions
NOI Build-Up for 3,740 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
$77.6K $20.76/SF
− Vacancy
−$1.4K −$0.37/SF
EGI
$76.2K $20.39/SF
− OpEx
−$22.9K −$6.12/SF
NOI
$53.4K $14.27/SF
Area
Douglas County, CO
Vacancy
1.80%
Lease Rate
$20.76 /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%
$1,067,420
Cap Rate 7%
$762,443
Cap Rate 9%
$593,011
Alternative Uses
Best Use
Industrial
$762.4K
$667.1K – $889.5K
NOI $53,371 @ 7.0% cap · market cap 5.73%
Second Best
Flex RnD
$697.2K
$610.0K – $813.4K
NOI $48,802 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,923 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
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
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Condo units delivered as cold dark shell with drive-in doors 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 $932,008.
What are key features of this property?
This property features: Condo office‑flex/lab/warehouse space delivered as a cold dark shell; Units available individually starting at 4,000 SF up to 49,307 SF total; Build‑to‑suit opportunities up to 250,000 SF
