Flex Space with
For Sale
Contact for pricing
5665 Flatiron Parkway, Boulder, CO 80301
Adaptable commercial premises with upgraded offices, outdoor decks, and an overhead door for flexible operations.
Property Size41,411 SF
Price / SF$288.57
Days on Market13
Property Features for 5665 Flatiron Parkway
General Information
Standard status
Active
Size
41,411 SF
Property subtype
Office, Industrial
Amenities
Outdoor Gathering Space with Grill
Grand Entryway with Skylight
Skylights
Internal Stairway
Showers
Outdoor Decks
Building Details
Buildings
1
Listing Agency:
Gibbons-White Inc
(303) 442-1040
Listed By:
Steve Sims · License #CO EA.001312310
Source:
Crexi
Added: Aug 13
Changed: Aug 22
Last Checked: Aug 24 at 9:05PM
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
Investment Insights
Based on property information with market context.
This flex property at 5665 Flatiron Parkway offers up to 10,500 square feet for an owner-user, with an additional 21,367 square feet scheduled to become available in May 2027. The second-floor office area includes upgraded finishes, showers, outdoor decks, and views. Suites 100 and 200 connect through an internal stairway, while the building also features a grand skylit entry, skylights in the second-floor suites, and an outdoor gathering area with a grill.
The property is located within Flatiron Business Park, a campus occupied by technology, life-science, and quantum companies including Apple, Atom Computing, Corden Pharma, Nite Ize, Colorado Quantum Incubator, and others. East & Co., the South Boulder Creek Bike Path, and Wild Provisions Beer Project are also within the park. Access to Highway 36 and downtown Boulder is approximately 10 minutes, with Longmont about 25 minutes, downtown Denver about 40 minutes, and DIA about 50 minutes away.
The property is located within Flatiron Business Park, a campus occupied by technology, life-science, and quantum companies including Apple, Atom Computing, Corden Pharma, Nite Ize, Colorado Quantum Incubator, and others. East & Co., the South Boulder Creek Bike Path, and Wild Provisions Beer Project are also within the park. Access to Highway 36 and downtown Boulder is approximately 10 minutes, with Longmont about 25 minutes, downtown Denver about 40 minutes, and DIA about 50 minutes away.
Key Highlights
- Up to 10,500 sq. ft. available for an owner‑user
- Additional 21,367 sq. ft. scheduled to be available in May 2027
- Second‑floor offices include showers, outdoor decks, and views
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
$582,156
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
4.87%
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%
$11,643,120
$11.6M
Cap Rate 7%
$8,316,514
$8.3M
Cap Rate 9%
$6,468,400
$6.5M
Market Conditions
NOI Build-Up for 41,411 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
$1.09M $26.40/SF
− Vacancy
−$317.0K −$7.66/SF
EGI
$776.2K $18.74/SF
− OpEx
−$194.1K −$4.69/SF
NOI
$582.2K $14.06/SF
Area
Boulder, CO
Vacancy
29.00%
Lease Rate
$26.40 /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%
$11,643,120
Cap Rate 7%
$8,316,514
Cap Rate 9%
$6,468,400
Alternative Uses
Best Use
Office B
$8.32M
$7.28M – $9.70M
NOI $582,156 @ 7.0% cap · market cap 4.87%
Second Best
Flex RnD
$5.58M
$4.88M – $6.51M
NOI $390,514 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$13.99M
$12.24M – $16.33M
NOI $979,552 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,130
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial premises with upgraded offices, outdoor decks, and an overhead door for flexible operations.
Where is this flex space located?
The property is located at 5665 Flatiron Parkway Boulder, CO.
What is the asking price?
The asking price for this property is $11,950,000.
What are key features of this property?
This property features: Up to 10,500 sq. ft. available for an owner‑user; Additional 21,367 sq. ft. scheduled to be available in May 2027; Second‑floor offices include showers, outdoor decks, and views
