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Boulder, CO

3180 Sterling Circle

3180 Sterling Circle, Boulder, CO 80301
Property Type:
Multi Tenant
Cap Rate:
6.54% pro-forma cap
Square Feet:
19,001 sqft
Lot Size:
1.29 Acres
Price Per Square Foot:
Year Built:
* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • 19,001-Square-Foot Multi-Tenant Flex Showroom Situated on 1.29 Acres
  • Features 24’ Clear Height, One Dock-High Door, Two Grade-Level Doors, and 56 Parking Spaces
  • 80% Occupied by Dahl, a Subsidiary of Hajoca, One of the Largest Privately-Owned Plumbing Supply Companies
  • Available for Lease-Up Investment or Partial Owner Use of 3,777 Square Feet
  • Located in High-Rent Submarket with Proximity to U.S. Highway 36 and Boulder Municipal Airport

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3180 Sterling Circle in Boulder, Colorado, anchored by Dahl Plumbing (a subsidiary of Hajoca Corporation). The subject property consists of approximately 19,001 square feet of flex showroom space and is situated on 1.29 acres of land. Delivered in 1997, the multi-tenant asset features three units, a clear height of 24’, one dock-high door, two grade-level doors, and 56 parking spaces. Located only two miles from U.S. Route 36, the asset sits only one mile from the Boulder Municipal Airport.

With 3,777 square feet of available office space , this sale offers buyers a partial owner-user opportunity in addition to a lease-up investment. Leased by its parent company, Hajoca Corporation, Dahl Plumbing now occupies 80 percent of the subject property after recently extending its original lease for suite 100 and expanding into suite 200, showing its commitment to the property. Founded in 1858, Hajoca is one of the country’s largest privately-held wholesale distributors of plumbing, heating & cooling, pool, and industrial supplies that operates through over 60 local entities, including Dahl Plumbing, with over 400 locations in total (Hajoca).

The subject property is well positioned in the Boulder submarket with 11.1 million square feet of industrial space. In 2023, net absorption contracted by -361,000 square feet, pushing the vacancy rate up to a 13-year high of 7.9 percent. Despite the uptick in availability, asking rents increased by 4.1 percent last year, keeping pace with the Consumer Price Index. At. $16.20 per square foot, asking rents in the Boulder submarket provides local landlords with a 11 percent premium over the market average. At the start of 2024, new supply remained subdued with only 25,000 square feet of industrial space under construction (CoStar). While industrial demand has weakened in Boulder, the lack of new supply will help keep vacancies in check.

Nestled 35 miles northwest of Denver, Boulder, Colorado is a picturesque haven with a robust socio-economic landscape. Boasting a population of 331,000 (including 104,000 within city limits), metro Boulder combines stunning scenery with diverse recreational activities. The region thrives on research and technology, particularly in software-related jobs, contributing to an above-average median income. The area stands out for its highly-educated workforce, with 60 percent holding bachelor’s degrees, and a significant 27 percent holding graduate or professional degrees. With federal research facilities, the University of Colorado, and a focus on technology, bioscience, and outdoor products, Boulder remains a high-tech hub and a magnet for venture capital. Beyond the economic dynamics, the region’s allure extends to tourism, benefiting from its proximity to Rocky Mountain National Park and ski slopes.

Adam Lewis
Denver Broker of Record
1225 17th Street, Suite 1800
Denver, CO 80202
Tel: (303) 328-2050
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. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0050005)