Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3351 West 71st Place in Westminster, Colorado. The subject property consists of approximately 10,000 square feet of industrial storage space and is situated on 0.60 acres of land. The two-building asset features 29 units, ranging from 250 to 500 square feet, each equipped with a 14’ grade-level door. Constructed of metal, the property has a clear height of 16’. Located just off North Federal Boulevard, eight miles north of Downtown Denver, the property has proximity to Interstates 76, 70, and 25. At 95 percent occupied on short-term leases with below-market rents, this sale offers investors a value-add opportunity.
The subject property is situated within the mid-sized Northwest Denver submarket, containing 18.3 million square feet of industrial space. In the 12 months through Q2 2025, net absorption remained in positive territory at nearly 359,000 square feet. During this time, net deliveries in Northwest Denver added 1.2 million square feet of industrial space to the inventory. As a result, the vacancy rate increased year-over-year from 8.1 percent to 12.0 percent in Q2. However, among comparable properties up to 10,000 square feet, the vacancy rates stood at only 2.8 percent. The general increase in availability across Northwest Denver helped to push annual rent growth into negative territory at -0.1 percent in Q2 as the average market rent dipped by seven cents on the quarter to about $12.50 per square foot. With only about 75,000 square feet of industrial space in the pipeline in Northwest Denver during Q3, new supply will have a smaller impact on vacancies and rents going forward (CoStar).
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 716,577 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 a two-hour drive from the metro area, and the city houses franchises for all four major sports.
BROKER OF RECORD
ADAM LEWIS
Colorado Broker of Record
1144 15th Street #2150,
Denver, CO 80202
Office (303) 328-2000
Adam.Lewis@MarcusMillichap.com
License: ER.100091205
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. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0050516)
