Self-Storage Facility Near Light
For Sale
$2,650,000
6890 Lowell Boulevard, Denver, CO 80221
Covered storage property beside Westminster’s light rail station with existing self-storage income.
Property Size11,952 SF
Days on Market193
Property Features for 6890 Lowell Boulevard
General Information
Standard status
Active
Size
11,952 SF
Property subtype
Self Storage
Building Details
Building Size
11,952 SF
Year Built
1965
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Michael DeSantis · License #FA.100053000
(303) 321-5888
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 10:02AM
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 self-storage facility includes covered land improvements and generates income from existing storage operations. The property was built in 1965 and is located at 6890 Lowell Boulevard in Denver, Colorado.
The site directly adjoins the Westminster light rail station. Adjacent parcels may also be acquired to form a contiguous assemblage of approximately ±3 acres. The property can be annexed into the City of Westminster, where zoning is described as allowing up to ±18 units per acre for potential residential redevelopment.
The site directly adjoins the Westminster light rail station. Adjacent parcels may also be acquired to form a contiguous assemblage of approximately ±3 acres. The property can be annexed into the City of Westminster, where zoning is described as allowing up to ±18 units per acre for potential residential redevelopment.
Key Highlights
- Adjacent to Westminster light rail station
- Existing self‑storage income from covered storage operations
- Built in 1965
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
$123,507
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
4.66%
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%
$2,470,140
$2.5M
Cap Rate 7%
$1,764,386
$1.8M
Cap Rate 9%
$1,372,300
$1.4M
Market Conditions
NOI Build-Up for 11,952 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
$157.8K $13.20/SF
− Vacancy
−$12.5K −$1.04/SF
EGI
$145.3K $12.16/SF
− OpEx
−$21.8K −$1.82/SF
NOI
$123.5K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$2,470,140
Cap Rate 7%
$1,764,386
Cap Rate 9%
$1,372,300
Alternative Uses
Best Use
Warehouse
$1.76M
$1.54M – $2.06M
NOI $123,507 @ 7.0% cap · market cap 4.66%
Second Best
Self Storage
$1.58M
$1.39M – $1.85M
NOI $110,838 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$3.80M
$3.33M – $4.44M
NOI $266,333 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 80221, CO
42,224
Population
15,165
Households
2.8
Avg Household Size
34
Median Age
28%
College-Educated
84%
High-School Grad
9.1 sq mi
ZIP Area
4,640
Density / Sq Mi
$84,425
Median Household Income
$42,720
Median Earnings
$1,642
Median Rent
$449,700
Median Home Value
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Covered storage property beside Westminster’s light rail station with existing self-storage income.
Where is this self storage facility located?
The property is located at 6890 Lowell Boulevard Denver, CO.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Adjacent to Westminster light rail station; Existing self‑storage income from covered storage operations; Built in 1965
