Flex Space with Drive-In
New
For Sale
$338,800
700 Billings St P, Aurora, CO 80011
Vacant commercial unit with warehouse-office functionality, dedicated parking, private restroom, and Mixed Use – Commercial zoning.
Property Size1,694 SF
Price / SF$200
Days on Market3
Property Features for 700 Billings St P
General Information
Standard status
Active
Size
1,694 SF
Class
Class B
Total Parking Spaces
2
Property subtype
Industrial
Zoning
Mixed Use – Commercial
Warehouse & Industrial
Drive-In Doors
1
Voltage
220 V
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,761
Amenities
private restroom
Building Details
Building Size
1,694 SF
Year Built
1984
Stories
1
Units
1
Listing Agency:
BEACON REAL ESTATE SERVICES LLC
(720) 939-9494
Listed By:
Justin Reyher · License #ER40040717
(720) 939-9494
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:18AM
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 BEACON REAL ESTATE SERVICES LLC
Investment Insights
Based on property information with market context.
Located at 700 Billings St P in Aurora, Colorado, this vacant flex space combines warehouse and office functionality within approximately 1,694 SF. The unit includes a rear drive-in loading door, a private restroom, and Class B construction dating to 1984.
Electrical service supports 110V–220V power, and the property has electricity, natural gas, water, and sewer. Two dedicated parking spaces are positioned directly in front of the unit. Mixed Use – Commercial zoning supports the existing commercial configuration, with the space ready for occupancy.
Electrical service supports 110V–220V power, and the property has electricity, natural gas, water, and sewer. Two dedicated parking spaces are positioned directly in front of the unit. Mixed Use – Commercial zoning supports the existing commercial configuration, with the space ready for occupancy.
Key Highlights
- ±1,694 SF of warehouse and office space
- Rear drive‑in loading door
- 110V–220V power service
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
$16,409
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
4.84%
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%
$328,180
$328.2K
Cap Rate 7%
$234,414
$234.4K
Cap Rate 9%
$182,322
$182.3K
Market Conditions
NOI Build-Up for 1,694 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
$20.9K $12.36/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$19.3K $11.40/SF
− OpEx
−$2.9K −$1.71/SF
NOI
$16.4K $9.69/SF
Area
ZIP 80011
Vacancy
7.80%
Lease Rate
$12.36 /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%
$328,180
Cap Rate 7%
$234,414
Cap Rate 9%
$182,322
Alternative Uses
Best Use
Warehouse
$234.4K
$205.1K – $273.5K
NOI $16,409 @ 7.0% cap · market cap 4.84%
Second Best
Industrial
$191.6K
$167.6K – $223.5K
NOI $13,411 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$390.7K
$341.9K – $455.8K
NOI $27,349 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80011, CO
54,254
Population
19,108
Households
2.8
Avg Household Size
32
Median Age
19%
College-Educated
76%
High-School Grad
20.4 sq mi
ZIP Area
2,660
Density / Sq Mi
$69,719
Median Household Income
$36,853
Median Earnings
$1,607
Median Rent
$367,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Vacant commercial unit with warehouse-office functionality, dedicated parking, private restroom, and Mixed Use – Commercial zoning.
Where is this flex space located?
The property is located at 700 Billings St P Aurora, CO.
What is the asking price?
The asking price for this property is $338,800.
What are key features of this property?
This property features: ±1,694 SF of warehouse and office space; Rear drive‑in loading door; 110V–220V power service
