Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4805 North Kingston Street in Denver, Colorado. The subject property consists of approximately 8,400 square feet of warehouse space and is situated on 0.76 acres of land. The single-tenant asset features a clear height of 12’, two exterior double doors, sprinklers, floor drains, and 34 parking spaces. Delivered in 1972, recent renovations include the façade of the building and partial roof replacement. Located just off Interstate 70, the property is situated within a 20-minute drive to both Downtown Denver and the Denver International Airport. Available for lease or for sale, the vacant property can be acquired for owner-use or as a lease-up investment opportunity.
The subject property sits within the Central East Interstate 70/Montbello, a heavily concentrated midsize submarket containing 18.4 million square feet of industrial space. During the third quarter of 2024, the vacancy rate climbed 80 basis points to 6.1 percent as net absorption trended into negative territory. The rise in availability continued to pressure rents, decelerating the annual growth rate by 2 percentage points to 2.5 percent in Q3. At $8.90 per square foot, the average rent in Montbello offers a 28 percent discount for tenants compared to the Denver market average (CoStar). Thanks to a lack of available space to develop new industrial properties, Montbello landlords are essentially protected from new supply.
Denver-Aurora-Lakewood metro is home to three million people among 10 counties. Known as the Mile High City, Denver, which is also a county, serves as the state’s capitol and largest city, with approximately 742,800 residents. Metro Denver houses 10 Fortune 500 companies, including Newmont Goldcorp, Arrow Electronics, and DISH Network. Aerospace, financial services, and health care are some of the industries that have driven economic growth in the new millennium. The passage of Amendment 64 in November 2012, created a new industry in marijuana, largely consisting of young thriving businesses. Metro Denver provides a high quality of life with rural and urban amenities. Rocky Mountain National Park is less than two hours driving from the metro area, and the city houses franchises for all four major sports.
BROKER OF RECORD
ADAM LEWIS
Denver Broker of Record
1144 15th Street, Suite 2150
Denver, CO 80202
Tel: (303) 328-2050
Adam.Lewis@MarcusMillichap.com
License CO: ER100091205
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0050678)
