Mixed-Use Industrial Office Retail
For Sale
$5,950,000
5925 E Evans Avenue, Denver, CO 80222
2016-built mixed-use building with five drive-in doors, office and retail space, and I-MX-3 zoned land.
Property Size27,762 SF
Lot Size0.96 Acres
Price / SF$214.32
Days on Market102
Property Features for 5925 E Evans Avenue
General Information
Standard status
Active
Size
27,762 SF
Lot size
0.96 Acres
Property subtype
Commercial/Industrial
Zoning
I-MX-3
Occupancy
95%
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
5
Heavy Power
Yes
Additional Details
Cap Rate
7.13%
Taxes and HOA fees
Annual Taxes
$143,284
Building Details
Year Built
2016
Tenancy
Multi
Listing Agency:
Brockman Group LLC
(303) 668-4930
Listed By:
Jules "J.B." Hochman · License #40026271
(303) 668-4930
Source:
Exitrealty
Added: May 14
Changed: Aug 23
Last Checked: Aug 22 at 9:38AM
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 Brockman Group LLC
Investment Insights
Based on property information with market context.
Built in 2016, 5925 E. Evans Avenue is a mixed-use industrial, office, and retail property totaling 27,762 SF on 41,954 SF of I-MX-3 zoned land. The flexible small-bay layout is supported by five drive-in doors and approximately 18' clear heights, with 3-phase power available for operations.
The property is located along the highly visible Evans Avenue corridor in Denver. It is currently 94.6% occupied with a diverse rent roll across industrial, office, and retail tenants.
For sale at $5,950,000, the asset generates $424,390 in current NOI (7.13% cap rate). The offering also cites a pathway to $555,690 in market NOI (9.34% cap rate) through lease-up of existing vacancy and rent normalization.
The property is located along the highly visible Evans Avenue corridor in Denver. It is currently 94.6% occupied with a diverse rent roll across industrial, office, and retail tenants.
For sale at $5,950,000, the asset generates $424,390 in current NOI (7.13% cap rate). The offering also cites a pathway to $555,690 in market NOI (9.34% cap rate) through lease-up of existing vacancy and rent normalization.
Key Highlights
- 27,762 SF mixed‑use industrial, office, and retail building built in 2016
- 41,954 SF I‑MX‑3 zoned land on highly visible Evans Avenue corridor
- Five drive‑in doors and 18' clear heights with flexible small‑bay layout
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
$406,769
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
6.84%
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%
$8,135,380
$8.1M
Cap Rate 7%
$5,810,986
$5.8M
Cap Rate 9%
$4,519,656
$4.5M
Market Conditions
NOI Build-Up for 27,762 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
$732.9K $26.40/SF
− Vacancy
−$190.6K −$6.86/SF
EGI
$542.4K $19.54/SF
− OpEx
−$135.6K −$4.88/SF
NOI
$406.8K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
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%
$8,135,380
Cap Rate 7%
$5,810,986
Cap Rate 9%
$4,519,656
Alternative Uses
Best Use
Office B
$5.81M
$5.08M – $6.78M
NOI $406,769 @ 7.0% cap · market cap 6.84%
Second Best
Retail
$5.43M
$4.75M – $6.33M
NOI $380,031 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$8.84M
$7.73M – $10.31M
NOI $618,635 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
5
Drive-in doors
94.6%
Occupancy
Multi-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 2016-built mixed-use building with five drive-in doors, office and retail space, and I-MX-3 zoned land.
Where is this flex space located?
The property is located at 5925 E Evans Avenue Denver, CO.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 27,762 SF mixed‑use industrial, office, and retail building built in 2016; 41,954 SF I‑MX‑3 zoned land on highly visible Evans Avenue corridor; Five drive‑in doors and 18' clear heights with flexible small‑bay layout
