Denver Warehouse For
For Sale
Contact for pricing
3870 - 3880 Elm Street, Denver, CO 80207
14,500 sq ft warehouse available in Denver, Colorado.
Property Size14,500 SF
Price / SF$165.17
Days on Market832
Property Features for 3870 - 3880 Elm Street
General Information
Standard status
Active
Size
14,500 SF
Class
C
Property subtype
Industrial
Zoning
I-MX-3
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$93,900
Building Details
Year Built
1961
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Colliers - Denver, Colorado
(303) 745-5800
Listed By:
Steve Serenyi · License #CO FA.040016442
Source:
Crexi
Added: May 16, 2024
Changed: Aug 10
Last Checked: Aug 24 at 7:28AM
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 - Denver, Colorado
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 14,500 square foot warehouse property located in Denver, Colorado. The property is intended for sale.
Key Highlights
- Established property with construction year of 1961.
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
$149,837
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
6.26%
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%
$2,996,740
$3.0M
Cap Rate 7%
$2,140,529
$2.1M
Cap Rate 9%
$1,664,856
$1.7M
Market Conditions
NOI Build-Up for 14,500 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
$191.4K $13.20/SF
− Vacancy
−$15.1K −$1.04/SF
EGI
$176.3K $12.16/SF
− OpEx
−$26.4K −$1.82/SF
NOI
$149.8K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /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%
$2,996,740
Cap Rate 7%
$2,140,529
Cap Rate 9%
$1,664,856
Alternative Uses
Best Use
Warehouse
$2.14M
$1.87M – $2.50M
NOI $149,837 @ 7.0% cap · market cap 6.26%
Second Best
Industrial
$1.76M
$1.54M – $2.05M
NOI $123,154 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,111 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
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?
Warehouse - 14,500 sq ft warehouse available in Denver, Colorado.
Where is this warehouse located?
The property is located at 3870 - 3880 Elm Street Denver, CO.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Established property with construction year of 1961.
