Thornton Industrial Space For
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8651 Grant St, Thornton, CO 80229
16,751 SF industrial space on 1.06-acre parcel.
Property Size16,751 SF
Lot Size1.06 Acres
Price / SF$176.11
Days on Market193
Property Features for 8651 Grant St
General Information
Standard status
Active
Size
16,751 SF
Class
C
Lot size
1.06 Acres
Property subtype
Industrial, Mixed Use, Retail
Zoning
PD
Building Details
Year Built
2002
Listing Agency:
Colliers
(303) 888-4476
Listed By:
Kristjan Danis · License #CO FA.100087888
Source:
Crexi
Added: Jan 30
Changed: Aug 11
Last Checked: Aug 11 at 7:32AM
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 Colliers
Investment Insights
Based on property information with market context.
Located in the Denver metro market, 8651 Grant St offers 16,751 SF of high-clearance industrial space on a 1.06-acre parcel. The property features 27’ clear heights and two dock-high doors, delivering strong loading efficiency and operational flexibility. With a clean, efficient layout, the building is ideal for warehouse, distribution, or light manufacturing users seeking vertical storage capabilities in a strategic Thornton location.
Key Highlights
- 16,751 SF of high‑clearance industrial space.
- Strategic Thornton location within the Denver metro market.
- 27’ clear heights, suitable for vertical storage.
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
$133,758
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
4.53%
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%
$2,675,160
$2.7M
Cap Rate 7%
$1,910,829
$1.9M
Cap Rate 9%
$1,486,200
$1.5M
Market Conditions
NOI Build-Up for 16,751 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
$170.9K $10.20/SF
− Vacancy
−$13.5K −$0.81/SF
EGI
$157.4K $9.39/SF
− OpEx
−$23.6K −$1.41/SF
NOI
$133.8K $7.99/SF
Area
ZIP 80229
Vacancy
7.90%
Lease Rate
$10.20 /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%
$2,675,160
Cap Rate 7%
$1,910,829
Cap Rate 9%
$1,486,200
Alternative Uses
Best Use
Warehouse
$1.91M
$1.67M – $2.23M
NOI $133,758 @ 7.0% cap · market cap 4.53%
Second Best
Industrial
$1.57M
$1.38M – $1.84M
NOI $110,154 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,941 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,171
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80229, CO
54,153
Population
20,130
Households
2.7
Avg Household Size
33
Median Age
20%
College-Educated
79%
High-School Grad
12.5 sq mi
ZIP Area
4,332
Density / Sq Mi
$83,450
Median Household Income
$42,198
Median Earnings
$1,719
Median Rent
$382,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- CubeSmart Self Storage — 8700 Devonshire Blvd, Denver, CO 80229
- Sam Self Storage Units — 8700 Evelyn Ct, Denver, CO 80229
Frequently Asked Questions
What type of property is this?
Warehouse - 16,751 SF industrial space on 1.06-acre parcel.
Where is this warehouse located?
The property is located at 8651 Grant St Thornton, CO.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 16,751 SF of high‑clearance industrial space.; Strategic Thornton location within the Denver metro market.; 27’ clear heights, suitable for vertical storage.
