Building Details

Year Built 1984

Listing Agency: Beacon Real Estate Services LLC

Listed By: Justin Reyher · License #ER40040717 Show Phone

Source: Exprealty

Added: Aug 20 Changed: Oct 7 Last Checked: Oct 13 at 2:09AM

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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 Beacon Real Estate Services LLC

Investment Insights

Based on property information with market context.

This vacant flex condominium at P-700 Billings St combines approximately 1,694 SF of warehouse and office area in a Class B building constructed in 1984. A rear drive-in door supports loading access, while the unit also includes a private restroom, 110V–220V electrical service, and dedicated utility connections for electricity, natural gas, water, and sewer.

The property is zoned Mixed Use – Commercial and includes two parking spaces positioned directly in front of the unit. Its existing warehouse-office configuration and immediate availability provide a functional setting for an owner-user or commercial occupant.

Key Highlights

• Approximately 1,694 SF of warehouse and office space
• Rear drive‑in loading door
• 110V–220V power service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,956

Cap Rate

7.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$499,120 $499.1K

Cap Rate 7%

$356,514 $356.5K

Cap Rate 9%

$277,289 $277.3K

Market Conditions

NOI Build-Up for 1,694 SF

Gross rent

$31.1K $18.36/SF

− Vacancy

−$1.7K −$1.03/SF

EGI

$29.4K $17.33/SF

− OpEx

−$4.4K −$2.60/SF

NOI

$25.0K $14.73/SF

Area

Aurora, CO

Vacancy

5.60%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$499,120

Cap Rate 7%

$356,514

Cap Rate 9%

$277,289

Alternative Uses

Best Use

Warehouse

$356.5K

$312.0K – $415.9K (±1% cap)

NOI $24,956 @ 7.0% cap · market cap 7.37%

Second Best

Flex RnD

$330.0K

$288.7K – $385.0K (±1% cap)

NOI $23,097 @ 7.0% cap · market cap 6.82%

Theoretical Best

Office A

$473.4K

$414.2K – $552.3K (±1% cap)

NOI $33,135 @ 7.0% cap · market cap 9.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Building Supply Auto Parts Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

982

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Vacant mixed-use commercial unit combining warehouse and office functionality with dedicated parking and private restroom.

Where is this flex space located?

The property is located at P-700 Billings St Aurora, CO.

What is the asking price?

The asking price for this property is $338,800.

What are key features of this property?

This property features: Approximately 1,694 SF of warehouse and office space; Rear drive‑in loading door; 110V–220V power service