Fully Leased Flex Building
For Sale
Contact for pricing
14251 E Fremont Ave, Centennial, CO 80112
Fully leased flex building in Denver MSA with steady income.
Property Size20,032 SF
Price / SF$197.18
Days on Market665
Property Features for 14251 E Fremont Ave
General Information
Standard status
Active
Size
20,032 SF
Property subtype
Industrial
Zoning
I
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$300,705
Building Details
Year Built
2000
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Andrus & Morgan Co
Listed By:
Thomas Morgan, CCIM · License #CO 40032085–ER
Source:
Crexi
Added: Nov 7, 2024
Changed: Aug 22
Last Checked: Aug 31 at 8:39PM
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 Andrus & Morgan Co
Investment Insights
Based on property information with market context.
Frehawk Business Center is a fully leased, three-tenant triple-net (NNN) investment property located in Centennial, CO, within the Denver MSA. The 20,032 square foot R&D flex building is occupied by established tenants, including Nytech Heating & Cooling (11,360 SF) and Golden Forensics (8,672 SF), with Verizon leasing roof/ground space. The building features a robust industrial design with 7 drive-in doors and 18’ clear heights. Signage is available on both the facade and a monument. The property includes 27 parking spaces, providing a ratio of 2.45 spaces per 1,000 square feet. Situated in the southeast Denver metro area, the property is near major business centers, retail hubs, and regional amenities. It is located minutes from the Denver Tech Center (DTC), which features over 25 million square feet of office, flex, and retail space. Other nearby destinations include Park Meadows Mall and Centennial Airport, with quick access to I-25, E-470, and E Arapahoe Rd. The area supports a strong business ecosystem and tenant base, with a high-income residential demographic and daily traffic counts of 12,000 to the west and 14,000 to the east. The property is also located minutes away from the Denver Broncos Training Camp.
Key Highlights
- Fully leased, three‑tenant NNN investment property providing passive income.
- Located in the Denver MSA (Centennial, CO) near major business centers and amenities.
- Steady income generation with a 6.70% cap rate (potential to increase to 7.15% if self‑managed).
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
$220,312
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
5.58%
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%
$4,406,240
$4.4M
Cap Rate 7%
$3,147,314
$3.1M
Cap Rate 9%
$2,447,911
$2.4M
Market Conditions
NOI Build-Up for 20,032 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
$360.6K $18.00/SF
− Vacancy
−$21.6K −$1.08/SF
EGI
$338.9K $16.92/SF
− OpEx
−$118.6K −$5.92/SF
NOI
$220.3K $11.00/SF
Area
Centennial, CO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,406,240
Cap Rate 7%
$3,147,314
Cap Rate 9%
$2,447,911
Alternative Uses
Best Use
Flex RnD
$3.15M
$2.75M – $3.67M
NOI $220,312 @ 7.0% cap · market cap 5.58%
Second Best
Industrial
$2.33M
$2.04M – $2.71M
NOI $162,817 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$4.86M
$4.25M – $5.67M
NOI $340,153 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,314
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80112, CO
35,713
Population
16,874
Households
2.1
Avg Household Size
36
Median Age
62%
College-Educated
97%
High-School Grad
17.8 sq mi
ZIP Area
2,006
Density / Sq Mi
$107,504
Median Household Income
$61,944
Median Earnings
$1,948
Median Rent
$627,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased flex building in Denver MSA with steady income.
Where is this flex space located?
The property is located at 14251 E Fremont Ave Centennial, CO.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Fully leased, three‑tenant NNN investment property providing passive income.; Located in the Denver MSA (Centennial, CO) near major business centers and amenities.; Steady income generation with a **6.70% cap rate** (potential to increase to 7.15% if self‑managed).
