Single-Tenant Office-Flex
For Sale
Contact for pricing
5610 Ward Rd #130, Arvada, CO 80002
A fully leased Class A office-flex condo suited for long-term professional occupancy.
Property Size5,985 SF
Price / SF$255.64
Days on Market59
Property Features for 5610 Ward Rd #130
General Information
Standard status
Active
Size
5,985 SF
Class
A
Property subtype
Office, Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$96,478
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
Unique Properties, Inc
(303) 900-5742
Listed By:
Michael DeSantis · License #CO FA.100053000
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 11 at 6:02PM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
This is a 100% leased Class A office/flex condo designed for professional use. The property is part of a condo-style setup within a higher-image office park environment, and it is currently occupied by Souder Miller & Associates, Inc. The tenant’s operations are focused on engineering and environmental consulting, including civil engineering, environmental services, and surveying.
The location is at 5610 Ward Rd in Arvada, Colorado, within a business park setting. As a single-tenant asset, the building configuration is straightforward for an owner-operator or an investor seeking a leased office/flex product in a maintained office community.
For buyers, this offering provides an opportunity to acquire a turnkey, income-producing office-flex condo with an established, single-tenant relationship. The tenant profile and space type align well with firms that require a professional office environment supported by flexible light industrial or technical work capabilities commonly associated with office/flex setups.
The location is at 5610 Ward Rd in Arvada, Colorado, within a business park setting. As a single-tenant asset, the building configuration is straightforward for an owner-operator or an investor seeking a leased office/flex product in a maintained office community.
For buyers, this offering provides an opportunity to acquire a turnkey, income-producing office-flex condo with an established, single-tenant relationship. The tenant profile and space type align well with firms that require a professional office environment supported by flexible light industrial or technical work capabilities commonly associated with office/flex setups.
Key Highlights
- 100% leased Class A office/flex condo in a high‑image office park
- Single‑tenant occupancy by Souder Miller & Associates, Inc.
- Occupied since the 2005 build year
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
$81,875
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
5.35%
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%
$1,637,500
$1.6M
Cap Rate 7%
$1,169,643
$1.2M
Cap Rate 9%
$909,722
$909.7K
Market Conditions
NOI Build-Up for 5,985 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
$143.6K $24.00/SF
− Vacancy
−$34.5K −$5.76/SF
EGI
$109.2K $18.24/SF
− OpEx
−$27.3K −$4.56/SF
NOI
$81.9K $13.68/SF
Area
Arvada, CO
Vacancy
24.00%
Lease Rate
$24.00 /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%
$1,637,500
Cap Rate 7%
$1,169,643
Cap Rate 9%
$909,722
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,875 @ 7.0% cap · market cap 5.35%
Second Best
Flex RnD
$930.3K
$814.0K – $1.09M
NOI $65,123 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,039 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80002, CO
20,267
Population
9,960
Households
2
Avg Household Size
37
Median Age
46%
College-Educated
90%
High-School Grad
6.5 sq mi
ZIP Area
3,118
Density / Sq Mi
$92,827
Median Household Income
$55,044
Median Earnings
$1,733
Median Rent
$538,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Elaborate Bartender — 5610 Ward Rd STE 300, Arvada, CO 80002
Frequently Asked Questions
What type of property is this?
Flex space - A fully leased Class A office-flex condo suited for long-term professional occupancy.
Where is this flex space located?
The property is located at 5610 Ward Rd #130 Arvada, CO.
What is the asking price?
The asking price for this property is $1,530,000.
What are key features of this property?
This property features: 100% leased Class A office/flex condo in a high‑image office park; Single‑tenant occupancy by Souder Miller & Associates, Inc.; Occupied since the 2005 build year
