Denver Industrial / Flex
For Sale
Contact for pricing
10885 E 51st Ave, Denver, CO 80239
15,908 SF freestanding building on 1.01 AC lot.
Property Size15,908 SF
Lot Size1.01 Acres
Price / SF$103.72
Days on Market746
Property Features for 10885 E 51st Ave
General Information
Standard status
Active
Size
15,908 SF
Total Parking Spaces
50
Lot size
1.01 Acres
Property subtype
Industrial
Zoning
I-B
Investment Type
Owner/User
Building Details
Year Built
1979
Year Renovated
2002
Listing Agency:
Shames Makovsky
Listed By:
Solomon Stark
(303) 888-0002
Source:
Crexi
Added: Aug 21, 2024
Changed: Sep 3
Last Checked: Sep 1 at 12:14AM
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 Shames Makovsky
Investment Insights
Based on property information with market context.
This is a 15,908 square foot freestanding industrial/flex building situated on a 1.01-acre lot. The property is located in Denver, Colorado.
Key Highlights
- 15,908 SF Freestanding Industrial / Flex Building
- Situated on a 1.01 AC lot
- Located in Denver, CO
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
$143,711
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
8.71%
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%
$2,874,220
$2.9M
Cap Rate 7%
$2,053,014
$2.1M
Cap Rate 9%
$1,596,789
$1.6M
Market Conditions
NOI Build-Up for 15,908 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
$223.3K $14.04/SF
− Vacancy
−$18.0K −$1.13/SF
EGI
$205.3K $12.91/SF
− OpEx
−$61.6K −$3.87/SF
NOI
$143.7K $9.03/SF
Area
ZIP 80239
Vacancy
8.08%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,874,220
Cap Rate 7%
$2,053,014
Cap Rate 9%
$1,596,789
Alternative Uses
Best Use
Industrial
$2.05M
$1.80M – $2.40M
NOI $143,711 @ 7.0% cap · market cap 8.71%
Second Best
Flex RnD
$1.91M
$1.67M – $2.22M
NOI $133,446 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$5.12M
$4.48M – $5.97M
NOI $358,284 @ 7.0% cap · market cap 21.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80239, CO
46,177
Population
13,892
Households
3.3
Avg Household Size
30
Median Age
18%
College-Educated
76%
High-School Grad
10.3 sq mi
ZIP Area
4,483
Density / Sq Mi
$86,661
Median Household Income
$41,106
Median Earnings
$1,903
Median Rent
$394,500
Median Home Value
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 15,908 SF freestanding building on 1.01 AC lot.
Where is this flex space located?
The property is located at 10885 E 51st Ave Denver, 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: 15,908 SF Freestanding Industrial / Flex Building; Situated on a 1.01 AC lot; Located in Denver, CO
