Evergreen Flex Space For
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35715 U.S Hwy 40 Unit D203-D204, Evergreen, CO 80439
3,300 SF flex space in Evergreen, Colorado.
Property Size3,355 SF
Price / SF$177.35
Days on Market633
Property Features for 35715 U.S Hwy 40 Unit D203-D204
General Information
Standard status
Active
Size
3,355 SF
Class
B
Property subtype
Industrial
Building Details
Year Built
1997
Listing Agency:
Pinnacle Real Estate Advisors
(720) 780-5829
Listed By:
RC Myles · License #1311187
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 8
Last Checked: May 12 at 9:23PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This 3,300 SF building provides a versatile space suitable for office or office warehouse purposes. The property offers ample room for customization, presenting an opportunity for future growth. Located in Evergreen, it provides convenient access to amenities and transportation routes. The property is an option for investors seeking a commercial real estate asset in the area.
Key Highlights
- 3,300 SF versatile space suitable for office or office warehouse use
- Desirable Evergreen location with convenient access to key amenities and transportation routes
- Ample room for customization to suit specific business needs
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
$45,212
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
7.60%
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%
$904,240
$904.2K
Cap Rate 7%
$645,886
$645.9K
Cap Rate 9%
$502,356
$502.4K
Market Conditions
NOI Build-Up for 3,355 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
$68.0K $20.28/SF
− Vacancy
−$7.8K −$2.31/SF
EGI
$60.3K $17.97/SF
− OpEx
−$15.1K −$4.49/SF
NOI
$45.2K $13.48/SF
Area
Jefferson County, CO
Vacancy
11.40%
Lease Rate
$20.28 /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%
$904,240
Cap Rate 7%
$645,886
Cap Rate 9%
$502,356
Alternative Uses
Best Use
Office B
$645.9K
$565.2K – $753.5K
NOI $45,212 @ 7.0% cap · market cap 7.60%
Second Best
Flex RnD
$402.4K
$352.1K – $469.5K
NOI $28,168 @ 7.0% cap · market cap 4.73%
Theoretical Best
Multifamily LT 5
$7.47M
$6.53M – $8.71M
NOI $522,626 @ 7.0% cap · market cap 87.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80439, CO
24,711
Population
11,137
Households
2.2
Avg Household Size
49
Median Age
71%
College-Educated
98%
High-School Grad
168.8 sq mi
ZIP Area
146
Density / Sq Mi
$152,156
Median Household Income
$67,162
Median Earnings
$1,870
Median Rent
$838,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 3,300 SF flex space in Evergreen, Colorado.
Where is this flex space located?
The property is located at 35715 U.S Hwy 40 Unit D203-D204 Evergreen, CO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,300 SF versatile space suitable for office or office warehouse use; Desirable Evergreen location with convenient access to key amenities and transportation routes; Ample room for customization to suit specific business needs
