Denver Industrial Property For
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1400 E 66th Ave, Denver, CO 80229
Industrial property with renovated office space and convenient loading facilities.
Property Size58,525 SF
Price / SF$179.41
Days on Market882
Property Features for 1400 E 66th Ave
General Information
Standard status
Active
Size
58,525 SF
Property subtype
Office, Industrial
Zoning
I-2 (Adams County)
Building Details
Year Built
1986
Year Renovated
2021
Stories
2
Listing Agency:
Cushman & Wakefield - Denver, Colorado
(303) 813-6427
Listed By:
Drew McManus · License #FA.100016531
Source:
Crexi
Added: Apr 3, 2024
Changed: Aug 22
Last Checked: Aug 28 at 9:26PM
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 Cushman & Wakefield - Denver, Colorado
Investment Insights
Based on property information with market context.
The property at 1400 E 66th Avenue is located within Denver’s Central Industrial Submarket. The property is zoned I-2. The building includes a renovated two-story office space spanning 6,500 square feet. The property features a concrete storage yard, a robust power supply, and dock-high and grade-level loading facilities. It is equipped with an ESFR fire sprinkler system and a fully conditioned manufacturing area.
Key Highlights
- I‑2 Zoning ideal for industrial use.
- Fully renovated 6,500 SF two‑story office space.
- Convenient dock‑high and grade‑level loading.
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
$467,326
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
4.45%
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%
$9,346,520
$9.3M
Cap Rate 7%
$6,676,086
$6.7M
Cap Rate 9%
$5,192,511
$5.2M
Market Conditions
NOI Build-Up for 58,525 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
$597.0K $10.20/SF
− Vacancy
−$47.2K −$0.81/SF
EGI
$549.8K $9.39/SF
− OpEx
−$82.5K −$1.41/SF
NOI
$467.3K $7.99/SF
Area
ZIP 80229
Vacancy
7.90%
Lease Rate
$10.20 /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%
$9,346,520
Cap Rate 7%
$6,676,086
Cap Rate 9%
$5,192,511
Alternative Uses
Best Use
Warehouse
$6.68M
$5.84M – $7.79M
NOI $467,326 @ 7.0% cap · market cap 4.45%
Second Best
Industrial
$5.50M
$4.81M – $6.41M
NOI $384,857 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$17.77M
$15.54M – $20.73M
NOI $1,243,594 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 80229, CO
54,153
Population
20,130
Households
2.7
Avg Household Size
33
Median Age
20%
College-Educated
79%
High-School Grad
12.5 sq mi
ZIP Area
4,332
Density / Sq Mi
$83,450
Median Household Income
$42,198
Median Earnings
$1,719
Median Rent
$382,900
Median Home Value
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial property with renovated office space and convenient loading facilities.
Where is this manufacturing property located?
The property is located at 1400 E 66th Ave Denver, CO.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: I‑2 Zoning ideal for industrial use.; Fully renovated 6,500 SF two‑story office space.; Convenient dock‑high and grade‑level loading.
