Lakewood Warehouse with Redevelopment
For Sale
Contact for pricing
7007 W Colfax Ave, Lakewood, CO 80214
Unique warehouse property near Wadsworth and Colfax with redevelopment potential.
Property Size5,760 SF
Price / SF$286.46
Days on Market159
Property Features for 7007 W Colfax Ave
General Information
Standard status
Active
Size
5,760 SF
Total Parking Spaces
34
Property subtype
Industrial
Zoning
MGU Lakewood
Building Details
Year Built
1985
Buildings
2
Listing Agency:
Madison Commercial Properties Ltd
(303) 771-3850
Listed By:
Nick Jurgens · License #CO FA100073889
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 21 at 6:32AM
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 Madison Commercial Properties Ltd
Investment Insights
Based on property information with market context.
Located just northeast of Wadsworth and Colfax, this property offers the potential to accommodate up to five tenants. Currently, a liquor store is leased, while the remainder of the warehouse functions as a single unit, suitable for either an owner-user or investor. The warehouse has separate meters for four units. A large lot at the back of the property, furthest from Colfax, provides ample parking. Access is available from two streets, facilitating traffic flow. The MGU zoning allows for a wide array of uses. The warehouse can be divided into four units from its current configuration as one unit. The property size is 5760 square feet.
Key Highlights
- MGU Zoning allows for a wide array of uses.
- Ability to host up to 5 tenants, offering diverse income potential.
- Warehouse is separately metered for four units, providing flexibility.
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
$86,780
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
5.26%
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%
$1,735,600
$1.7M
Cap Rate 7%
$1,239,714
$1.2M
Cap Rate 9%
$964,222
$964.2K
Market Conditions
NOI Build-Up for 5,760 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
$124.4K $21.60/SF
− Vacancy
−$8.7K −$1.51/SF
EGI
$115.7K $20.09/SF
− OpEx
−$28.9K −$5.02/SF
NOI
$86.8K $15.07/SF
Area
Lakewood, CO
Vacancy
7.00%
Lease Rate
$21.60 /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%
$1,735,600
Cap Rate 7%
$1,239,714
Cap Rate 9%
$964,222
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.08M – $1.45M
NOI $86,780 @ 7.0% cap · market cap 5.26%
Second Best
Retail
$1.11M
$968.4K – $1.29M
NOI $77,475 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,766 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,575
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80214, CO
26,493
Population
13,298
Households
2
Avg Household Size
36
Median Age
39%
College-Educated
89%
High-School Grad
4.7 sq mi
ZIP Area
5,637
Density / Sq Mi
$74,259
Median Household Income
$48,094
Median Earnings
$1,516
Median Rent
$519,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Record Nations — 14500 W Colfax Ave, Lakewood, CO 80401
Frequently Asked Questions
What type of property is this?
Warehouse - Unique warehouse property near Wadsworth and Colfax with redevelopment potential.
Where is this warehouse located?
The property is located at 7007 W Colfax Ave Lakewood, CO.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: MGU Zoning allows for a wide array of uses.; Ability to host up to 5 tenants, offering diverse income potential.; Warehouse is separately metered for four units, providing flexibility.
