Single-Tenant Industrial
For Sale
Contact for pricing
Pending
6810 Winchester Cir, Boulder, CO 80301
Fully leased industrial facility in Boulder’s Gunbarrel Tech Center, occupied by Alpine Research Optics.
Property Size35,000 SF
Days on Market173
Property Features for 6810 Winchester Cir
General Information
Standard status
Pending
Size
35,000 SF
Class
A
Total Parking Spaces
88
Property subtype
Industrial
Zoning
IM - Industrial Manufacturing
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$408,450
Building Details
Year Built
2003
Year Renovated
2021
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
The Colorado Group, Inc.
Listed By:
Chris Wynja · License #CO FA.100080088
(303) 570-3472
Source:
Crexi
Added: Mar 23
Changed: Sep 10
Last Checked: Sep 10 at 7:24AM
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 The Colorado Group, Inc.
Investment Insights
Based on property information with market context.
Located in Boulder’s Gunbarrel Tech Center, this single-tenant industrial facility totals approximately 35,000 square feet and is fully leased. The property is occupied by Alpine Research Optics, a global manufacturer of precision optical components, and is operated under a long-term lease.
6810 Winchester Circle is positioned near major transportation corridors, placing it within Boulder’s technology and research ecosystem. The asset offers investors the opportunity to acquire a net-leased industrial property with stable occupancy under a specialized user.
As a dedicated, single-tenant industrial building, the facility is designed around the requirements of an established manufacturing tenant, with the current lease structure supporting ongoing rent coverage.
6810 Winchester Circle is positioned near major transportation corridors, placing it within Boulder’s technology and research ecosystem. The asset offers investors the opportunity to acquire a net-leased industrial property with stable occupancy under a specialized user.
As a dedicated, single-tenant industrial building, the facility is designed around the requirements of an established manufacturing tenant, with the current lease structure supporting ongoing rent coverage.
Key Highlights
- Single‑tenant industrial facility with 135,000 SF total space
- Built in 2003
- Fully leased to Alpine Research Optics
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
$312,066
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
5.24%
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%
$6,241,320
$6.2M
Cap Rate 7%
$4,458,086
$4.5M
Cap Rate 9%
$3,467,400
$3.5M
Market Conditions
NOI Build-Up for 35,000 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
$483.0K $13.80/SF
− Vacancy
−$37.2K −$1.06/SF
EGI
$445.8K $12.74/SF
− OpEx
−$133.7K −$3.82/SF
NOI
$312.1K $8.92/SF
Area
Boulder, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$6,241,320
Cap Rate 7%
$4,458,086
Cap Rate 9%
$3,467,400
Alternative Uses
Best Use
Industrial
$4.46M
$3.90M – $5.20M
NOI $312,066 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.83M
$10.35M – $13.80M
NOI $827,904 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
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
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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?
Manufacturing property - Fully leased industrial facility in Boulder’s Gunbarrel Tech Center, occupied by Alpine Research Optics.
Where is this manufacturing property located?
The property is located at 6810 Winchester Cir Boulder, 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: Single‑tenant industrial facility with 135,000 SF total space; Built in 2003; Fully leased to Alpine Research Optics
