Insulated Garage Warehouse
For Sale
$264,000
9658 Havana Street Commerce, Henderson, CO 80640
2024 warehouse condo with dedicated heating, high-bay lighting, and an insulated overhead door.
Property Size44,744 SF
Price / SF$240
Days on Market9
Property Features for 9658 Havana Street Commerce
General Information
Standard status
Active
Size
44,744 SF
Property subtype
Warehouse
Warehouse & Industrial
Clear Height
20.8 ft
Drive-In Doors
1
Power
60 amps
Voltage
240 V
Additional Details
Asking Price
$264,000
Highway Access
Yes
Building Details
Building Size
44,744 SF
Year Built
2024
Listing Agency:
eXp Commercial | Colorado
(303) 229-6978
Listed By:
Ryan Beckenhauer · License #FA100101496
(303) 229-6978
Source:
Thebrokerlist
Added: Aug 15
Changed: Aug 19
Last Checked: Aug 23 at 2:27AM
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 eXp Commercial | Colorado
Investment Insights
Based on property information with market context.
Built in 2024, this 1,100-square-foot warehouse condo provides a 50-by-22-foot interior with clear heights ranging from 15 feet 10 inches to 20 feet 10 inches. The unit includes a gas heater, an insulated overhead door measuring 14 feet high by 12 feet wide, 60-amp electrical service, 120/240V power, and high-bay LED lighting. R-19 demising walls and an R-21 insulated roof add to the building specifications.
The property is located at 9658 Havana Street in Commerce City, with access to I-76, E-470, Highway 2, and the Denver metro area. The surrounding area includes residential communities, retail, and recreation. The Garage Society setting supports a range of warehouse and garage-oriented applications within the northern Denver market.
The property is located at 9658 Havana Street in Commerce City, with access to I-76, E-470, Highway 2, and the Denver metro area. The surrounding area includes residential communities, retail, and recreation. The Garage Society setting supports a range of warehouse and garage-oriented applications within the northern Denver market.
Key Highlights
- 1,100 SF warehouse condo with a 50' x 22' interior
- Clear height ranges from 15'10" to 20'10"
- Insulated overhead door measures 14' high X 12' wide
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
$15,914
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
6.03%
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%
$318,280
$318.3K
Cap Rate 7%
$227,343
$227.3K
Cap Rate 9%
$176,822
$176.8K
Market Conditions
NOI Build-Up for 1,100 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
$20.3K $18.48/SF
− Vacancy
−$1.6K −$1.46/SF
EGI
$18.7K $17.02/SF
− OpEx
−$2.8K −$2.55/SF
NOI
$15.9K $14.47/SF
Area
Adams County, CO
Vacancy
7.90%
Lease Rate
$18.48 /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%
$318,280
Cap Rate 7%
$227,343
Cap Rate 9%
$176,822
Alternative Uses
Best Use
Warehouse
$227.3K
$198.9K – $265.2K
NOI $15,914 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.18M
$14.16M – $18.88M
NOI $1,132,905 @ 7.0% cap · market cap 429.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80640, CO
13,106
Population
4,889
Households
2.7
Avg Household Size
33
Median Age
26%
College-Educated
89%
High-School Grad
13.0 sq mi
ZIP Area
1,008
Density / Sq Mi
$111,145
Median Household Income
$58,417
Median Earnings
$2,138
Median Rent
$464,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- STOR-N-LOCK Self Storage — 11210 E 104th Ave, Henderson, CO 80640
- Prime Self Storage — 10001 E 102nd Ave, Henderson, CO 80640
- The Garage Society — 9658 Havana St, Commerce City, CO 80022
Frequently Asked Questions
What type of property is this?
Warehouse - 2024 warehouse condo with dedicated heating, high-bay lighting, and an insulated overhead door.
Where is this warehouse located?
The property is located at 9658 Havana Street Commerce Henderson, CO.
What is the asking price?
The asking price for this property is $264,000.
What are key features of this property?
This property features: 1,100 SF warehouse condo with a 50' x 22' interior; Clear height ranges from 15'10" to 20'10"; Insulated overhead door measures 14' high X 12' wide
