7499 41st Ave Denver, CO 80216-4707
- Warehouses
- 10,451 SF
- 2.89 lot acres
May 31, 2024
Current Use by Public Records
- Traffic Management, Inc. / Utility Contractor / Construction Equipment Supplier
Property Details for 7499 41st Ave
- Year built
- 1998
- Construction
- STEEL FRAME
- Lot size
- 2.89 lot acres
- Property size
- 10,451 SF
- Zone code
- I-MX-5
- Property type
- Warehouses
- APN
- 01213-00-120-000
- APU
- 121300120000
Description
This exceptional 10,451-square-foot industrial warehouse, situated on a 2.9-acre lot in Denver, Colorado (zip code 80216), presents a compelling investment opportunity. The property, built in 1998 and boasting a Class C designation, is currently 100% occupied under a NNN lease with a single tenant. The building features an 18-foot ceiling height, two loading docks, and one dock-high door, providing ample space for storage and operations. The property also includes 25 parking spaces. The zoning is I-MX-5, allowing for potential future development. The asking price is $3,200,000, representing a compelling $306.19 per square foot and a 6.45% cap rate (6.68% pro-forma). The Net Operating Income (NOI) is $206,400, with a pro-forma NOI of $213,624. Conveniently located just off Interstate 70, this property offers easy access to Downtown Denver (approximately 15 minutes) and Denver International Airport (approximately 20 minutes). The low building coverage ratio of 8% provides significant outdoor storage space. This fee-simple ownership opportunity is ideal for investors seeking strong returns in a desirable Denver submarket with a low vacancy rate of 3.9%.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,450,000
- ML approach
- $2,450,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,800,000
- 6.5%
- $1,660,000
- 7%
- $1,545,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,486,000
Market price range: $1.20M - $2.49M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $1,735,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $3,390,000 Change: +95% Conversion: Moderate
- RETAIL STORES
- $3,360,000 Change: +93% Conversion: Moderate
- MEDICAL BUILDING
- $3,175,000 Change: +83% Conversion: Difficult
- OFFICE BUILDING
- $2,675,000 Change: +54% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $2,535,000 Change: +46% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.901
- Latitude
- 39.7759
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
