4825 Oakland Street
- 4825 Oakland Street, Denver, CO 80239
- Property Type:
- Single Tenant
- Square Feet:
- 16,122 sqft
- Lot Size:
- 1.03 Acres
- Price Per Square Foot:
- Year Built:
- 16,122-Square-Foot Industrial Building on 1+ Acre
- Building Offers Heavy Power, 16’ Clear Height, Sprinklers, and Tilt Wall Construction
- Accessible Location Just Off Peoria/I-70
- 20 Minutes to DIA; 20 Minutes to Downtown Denver
- Desirable Submarket with 4.4% Vacancy Rate
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4825 Oakland Street in Denver, Colorado. The subject property consists of approximately 16,122 square feet of warehouse space and is situated on 1.03 acres of land. This tilt wall constructed asset features a clear height of 16’, sprinklers, and heavy power. Located just off the Peoria Street exit from Interstate 70, the property is only a 20-minute drive from both downtown Denver and the Denver International Airport.
The subject property is positioned within Central East Interstate 70/Montbello, a mid-sized submarket in a desirable location containing 18.2 million square feet of industrial space. For much of the last decade, the vacancy rate has remained below 5 percent and closed out 2022 at just 4.4 percent. After contracting for four straight quarters, net absorption rebounded, posting its third-highest level in ten years at about 215,000 square feet during Q4. Over the last year, notable activity in the submarket includes Larsen Warehousing and Distribution expanding to a 168,000-square-foot space, and shoe manufacturer, Feel The World, leasing 86,000 square feet. While rent growth has cooled off in recent quarters, the annual pace of increase remains elevated at 8.6 percent in Q4 2022. Market rents in the submarket now average about $8.30 per square foot, offering tenants a 28 percent discount compared to the overall Denver market. With nothing currently underway, vacancies and rent growth will go unimpeded by new supply for the foreseeable future (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 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.