Leased Industrial Flex
5969 Iris Pky Frederick, CO 80504
5969 Iris Pky, Frederick, CO, 80504
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For Sale
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Multi-tenant industrial/flex building with two dock-high loading and separately metered utilities, fully leased on staggered NNN terms.
Property Size12,065 SF
Lot Size0.96 Acres
Price / SF$190.63
Days on Market87
Property Features for 5969 Iris Pky
General Information
- Standard status
- Active
- Size
- 12,065 SF
- Lot size
- 0.96 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1999
Listing agency
Matthews
Listed by
Angelo Vattano · License #100101759
Source
Crexi
Added: Apr 27 Updated: Jul 22 at 2:42AM Checked: Jul 22 at 2:42AM
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 Matthews
Investment Insights
Based on property information with market context.
5969 Iris Parkway is a fully leased, multi-tenant industrial/flex property constructed in 1999. The building is occupied by two tenants on staggered NNN leases, with Mirror Image Brewing taking approximately 65% of the space and operating two coterminous flat leases expiring January 31, 2029. The remaining 35% is leased to New Energy Structures Company (dba NESCO), with a term through April 30, 2027 and one 1-year renewal option. Clear heights range from 16 to 20 feet, and the building includes one dock-high door and a shared loading area. The site is supported by durable metal construction, flexible BLI zoning, 800 amp/3-phase power (tbv), and separately metered gas and electric. Recent upgrades include parking lot repaving and restriping, and a new HVAC unit in Unit A. Included mineral rights generated royalty income in 2025.
The property is situated in the heart of Frederick, Colorado, conveniently located just minutes from I-25 and near Frederick High School. The site includes 28 paved parking spaces.
The offering totals a 12,065-square-foot building on a 10.96-acre lot and includes separately metered utilities, repaved and restriped parking, and clear-height flexibility for a range of light industrial and flex uses consistent with BLI zoning.
The property is situated in the heart of Frederick, Colorado, conveniently located just minutes from I-25 and near Frederick High School. The site includes 28 paved parking spaces.
The offering totals a 12,065-square-foot building on a 10.96-acre lot and includes separately metered utilities, repaved and restriped parking, and clear-height flexibility for a range of light industrial and flex uses consistent with BLI zoning.
Key Highlights
- 12,065 SF multi‑tenant industrial/flex building on 10.96 acres in Frederick, CO, built in 1999
- Fully leased with staggered NNN leases; WALT is 2.2 years
- Mirror Image Brewing occupies ~65% on coterminous flat leases expiring Jan 31, 2029, with one 5‑year renewal option and 3.5% annual rent increases
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $172.3k | $14.28 |
| − Vacancy | −$14.0k | −$1.16 |
| EGI | $158.3k | $13.12 |
| − OpEx | −$23.7k | −$1.97 |
| NOI | $134.6k | $11.15 |
12,065 SF · lease $14.28/SF/yr · vacancy 8.10% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,583 @ 7.0% cap · market cap 5.85%
Second Best
Industrial
$1.54M
$1.34M – $1.79M
NOI $107,574 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office B
$2.20M
$1.92M – $2.57M
NOI $153,919 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Multi-tenant industrial/flex building with two dock-high loading and separately metered utilities, fully leased on staggered NNN terms.
Where is this flex space located?
The property is located at 5969 Iris Pky Frederick, CO.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 12,065 SF multi‑tenant industrial/flex building on 10.96 acres in Frederick, CO, built in 1999; Fully leased with staggered NNN leases; WALT is 2.2 years; Mirror Image Brewing occupies ~65% on coterminous flat leases expiring Jan 31, 2029, with one 5‑year renewal option and 3.5% annual rent increases
