Freestanding Industrial Buildings with
For Sale
$4,950,000
950 Simms St, Lakewood, CO 80401
Three freestanding industrial buildings with retail/showroom exposure and a fenced, fully paved yard sized for storage and access.
Property Size22,800 SF
Lot Size2.00 Acres
Price / SF$217.11
Days on Market48
Property Features for 950 Simms St
General Information
Standard status
Active
Size
22,800 SF
Lot size
2.00 Acres
Property subtype
Industrial
Occupancy
67%
Site & Location
Traffic Count
30,000 vehicles/day
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
3
Additional Details
Cap Rate
9.46%
Building Details
Tenancy
Multi
Listing Agency:
Denver
(303) 283-4578
Listed By:
Steve Serenyi · License #FA.040016442
(303) 283-4578
Source:
Colliers
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 11 at 4:40AM
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 Denver
Investment Insights
Based on property information with market context.
This offering totals approximately 22,800 SF across three freestanding buildings, with retail/showroom exposure and multiple building access points. The property also includes a fenced, fully paved yard on roughly two acres, supported by three drive-in doors and one dock-high door to accommodate deliveries and day-to-day operations.
The buildings are positioned along Simms St. with retail/showroom exposure on heavy traffic (reported at 30,000 VPD). The site is described as a tight West Denver submarket with convenient transit access, including an approximately seven-minute walk from Oak Street Light Rail. Access is also noted as highly convenient to 6th Avenue and I-70.
The property is currently 2/3 leased to two tenants. Financial details provided include an in-place net income of $435,254 (7% capitalization rate) and a pro forma annual net rent of $468,254 (9.46% capitalization rate). For operators or investors seeking a mixed-use capable industrial package with yard storage, drive-in and dock-high loading, and existing tenancy, this configuration supports both flexible use and straightforward occupancy planning based on the existing lease structure.
The buildings are positioned along Simms St. with retail/showroom exposure on heavy traffic (reported at 30,000 VPD). The site is described as a tight West Denver submarket with convenient transit access, including an approximately seven-minute walk from Oak Street Light Rail. Access is also noted as highly convenient to 6th Avenue and I-70.
The property is currently 2/3 leased to two tenants. Financial details provided include an in-place net income of $435,254 (7% capitalization rate) and a pro forma annual net rent of $468,254 (9.46% capitalization rate). For operators or investors seeking a mixed-use capable industrial package with yard storage, drive-in and dock-high loading, and existing tenancy, this configuration supports both flexible use and straightforward occupancy planning based on the existing lease structure.
Key Highlights
- ±22,800 SF across 3 freestanding buildings with retail/showroom exposure on Simms St. (30,000 VPD)
- 2‑acre fenced, fully paved yard with 3 drive‑in doors and 1 dock high door for storage and access
- 2 of 3 buildings leased to 2 tenants with in‑place net income of $435,254 (7% cap rate)
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
$219,113
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
4.43%
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%
$4,382,260
$4.4M
Cap Rate 7%
$3,130,186
$3.1M
Cap Rate 9%
$2,434,589
$2.4M
Market Conditions
NOI Build-Up for 22,800 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
$280.4K $12.30/SF
− Vacancy
−$22.7K −$0.99/SF
EGI
$257.8K $11.31/SF
− OpEx
−$38.7K −$1.70/SF
NOI
$219.1K $9.61/SF
Area
Lakewood, CO
Vacancy
8.08%
Lease Rate
$12.30 /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%
$4,382,260
Cap Rate 7%
$3,130,186
Cap Rate 9%
$2,434,589
Alternative Uses
Best Use
Warehouse
$3.13M
$2.74M – $3.65M
NOI $219,113 @ 7.0% cap · market cap 4.43%
Second Best
Flex RnD
$2.71M
$2.37M – $3.16M
NOI $189,762 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$6.83M
$5.98M – $7.97M
NOI $478,034 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
3
Drive-in doors
30,000 VPD
Traffic count
66.7%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80401, CO
41,913
Population
17,762
Households
2.4
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
49.1 sq mi
ZIP Area
854
Density / Sq Mi
$112,444
Median Household Income
$53,936
Median Earnings
$1,868
Median Rent
$748,800
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 - Three freestanding industrial buildings with retail/showroom exposure and a fenced, fully paved yard sized for storage and access.
Where is this flex space located?
The property is located at 950 Simms St Lakewood, CO.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: ±22,800 SF across 3 freestanding buildings with retail/showroom exposure on Simms St. (30,000 VPD); 2‑acre fenced, fully paved yard with 3 drive‑in doors and 1 dock high door for storage and access; 2 of 3 buildings leased to 2 tenants with in‑place net income of $435,254 (7% cap rate)
