What Is Warehouse & Industrial Space Worth in Centennial, CO?
Based on 18 qualified industrial/warehouse sales recorded in Arapahoe County, the median sale price is $2,062,500 — with a typical range of $1,585,000 to $8,762,500. Values vary widely by building size, clear height, dock access, and exact location.
What Do Centennial Industrial Properties Actually Sell For?
The figures below are drawn directly from public Colorado county records — not estimates or opinions. They represent all qualified industrial/warehouse and commercial/retail/office transactions recorded in Arapahoe County over the trailing 24 months.
Industrial / Warehouse
$2,062,500
Typical range: $1,585,000 — $8,762,500
18 qualified sales in the trailing 24-month window.
The wide range reflects variation in building size, clear height, dock count, power capacity, and lease status. Large multi-tenant distribution facilities anchor the upper end; single-dock flex-industrial units the lower.
Commercial / Retail / Office (Comparison)
$600,000
Typical range: $449,000 — $1,887,500
72 qualified sales in the same window.
The median industrial sale price is approximately 3.4× the median commercial sale price, reflecting higher land-to-building ratios, specialized infrastructure, and different tenant demand dynamics.
Data source: Public Colorado county records (Arapahoe County assessor and clerk filings), aggregated. Window: Trailing 24 months (sales on/after 2024-06-01). Caveat: Figures are descriptive statistics from recorded transactions, not appraisals or opinions of value. Individual properties vary widely. Last updated June 2026.
Valuation Methodology
How Is Industrial & Warehouse Property Value Assessed in Colorado?
Colorado appraisers and assessors use three established approaches to estimate industrial property value: the income approach, the sales comparison approach, and the cost approach. For a given property, one or two methods typically dominates — and understanding which applies to your asset is the first step in a realistic valuation.
Colorado's Division of Property Taxation requires county assessors to determine actual value using accepted appraisal methods. For income-producing industrial properties, the assessor (and any private appraiser) generally leads with the income approach, then cross-checks with comparable sales. For owner-occupied or specialized facilities, cost may carry more weight. A credible opinion of value should explicitly reconcile all three.
01
Income Approach
Divide the property's stabilized net operating income (NOI) by a market-derived capitalization rate. Best applied to leased or leasable industrial assets. Inputs: market rent per sq. ft., vacancy allowance, operating expenses, and comparable cap rates from recent sales. Sensitive to lease term, tenant credit, and local rent trends.
02
Sales Comparison
Benchmark against recent arm's-length sales of functionally similar industrial properties. Adjustments are made for differences in size, age, clear height, dock doors, lot size, and location. The 18 qualified Centennial sales in this dataset provide a local anchor — but the sample is small enough that individual outliers have meaningful influence.
03
Cost Approach
Estimate replacement cost of the building (new construction cost per square foot for tilt-up, steel frame, or other construction type), subtract accrued depreciation (physical, functional, external), and add land value. Most relevant for newer specialized facilities where little comparable sales data exists, or for owner-occupied single-use buildings.
What Moves the Number
What Factors Cause Such a Wide Range in Industrial Sale Prices?
The $1,585,000–$8,762,500 range in Centennial's industrial sales reflects genuine physical and functional differences between properties — not just market noise. Knowing which factors affect your specific building focuses valuation effort on what actually matters.
Building Size & FootprintLarger square footage generally means higher absolute value; price-per-sq-ft tends to decline (not rise) with size in industrial.
Clear Height (Ceiling)24-ft vs. 32-ft clear height determines racking capacity and compatible tenant pool. Higher clear height commands a premium in today's e-commerce-driven demand environment.
Dock Doors & Drive-In AccessNumber and type (grade-level vs. dock-high) of loading positions directly affects logistics throughput. Cross-dock configurations are especially valued by distributors.
Power CapacityAdequate 3-phase power is essential for manufacturing tenants. Properties with limited electrical service may need costly upgrades, reducing net value.
Lease Status & Tenant CreditA long-term lease with a creditworthy tenant stabilizes income and reduces risk — both of which a cap-rate buyer pays a premium for. Vacant buildings sell at a discount.
Office Build-Out & Site FeaturesPercentage of finished office space, truck-court depth, trailer parking, fire suppression, and lot coverage all affect functional utility — and therefore value.
Centennial Industrial Corridor
ZONING NOTE
Centennial's industrial inventory is concentrated in business-park and industrial zones administered by both the City of Centennial and Arapahoe County (for unincorporated parcels). Permitted uses, setbacks, FAR limits, and truck-route designations differ by zone and directly affect what a site can accommodate — which in turn affects its market value. Always verify zoning with the applicable jurisdiction before pricing a site.
Centennial's Logistics Role
Why Does Centennial Attract Industrial & Distribution Users?
Centennial's southeastern Denver Metro location, dual freeway access (I-25 and E-470), and proximity to Denver International Airport make it a viable node for last-mile distribution, light manufacturing, and regional logistics operations.
Positioned along the I-25 corridor — one of the Front Range's primary freight arteries — Centennial industrial properties offer reach to downtown Denver (roughly 15 miles north), Colorado Springs (roughly 60 miles south), and DIA (roughly 30 miles via E-470 or Pena Blvd). This multi-directional access is a genuine operational benefit that industrial tenants price into lease decisions, and those lease decisions ultimately underpin building values.
E-470 provides an eastern beltway alternative that reduces congestion exposure for time-sensitive distribution. Properties close to E-470 interchanges are particularly attractive to e-commerce and same-day delivery operators who value transit-time predictability. That tenant preference tends to support lease rates — and by extension, investment values — near those access points.
The area also benefits from a skilled logistics and light-manufacturing workforce drawing from surrounding communities in Arapahoe and Douglas counties. Employer access to labor is a softer but real factor in site selection, and it matters when projecting long-term occupancy stability for income-approach underwriting.
I-25 AccessE-470 Beltway~30 mi to DIALast-Mile DistributionLight ManufacturingArapahoe CountyFront Range Corridor
How to Get a Specific Estimate
What Is the Process for Getting a Centennial Industrial Property Value?
The aggregate median ($2,062,500) is a starting benchmark — it is not a value for your specific property. A credible estimate requires pulling the comparable sales, reviewing assessor records, and applying the appropriate methodology for your building type. Here is how we approach that.
Step 01
Submit Property Details
Use the request form with your property address, building size, construction type, and any known lease information. More detail enables a more specific analysis.
Step 02
Pull Comparable Sales
We query Arapahoe County assessor and clerk records for arm's-length industrial sales that are functionally comparable — matching on size range, construction type, and micro-location.
Step 03
Review Assessor Data & Zoning
We check the subject property's assessed value history, zoning designation, permitted uses, and any recorded instruments that affect marketability or title.
Step 04
Deliver Research Summary
You receive a written summary of comparable sales, assessor context, relevant zoning notes, and a qualitative value range with methodology notes — not a certified appraisal, but a substantive research foundation.
Note: Colorado Land Use produces research summaries, not certified appraisals. For appraisal reports required for financing, litigation, or formal transactions, engage a Colorado-licensed certified general appraiser.
Frequently Asked Questions
Centennial Industrial Value — Common Questions Answered
Based on 18 qualified sales recorded in the trailing 24 months (on/after 2024-06-01) from public Arapahoe County records, the median sale price is $2,062,500, with a typical range of $1,585,000 to $8,762,500. Individual properties vary widely based on size, condition, zoning, and location. These figures are not appraisals.
Industrial property in Colorado is typically valued using three approaches: the income approach (capitalizing net operating income), the sales comparison approach (benchmarking against recent comparable sales), and the cost approach (replacement cost minus depreciation). Colorado county assessors apply a statutory assessment rate to actual value for property tax purposes — confirm the current non-residential rate with the Arapahoe County Assessor.
Based on the same trailing-24-month county record data, the median industrial/warehouse sale price ($2,062,500) is approximately 3.4× the median commercial/retail/office sale price ($600,000). Industrial properties show a typical range of $1,585,000–$8,762,500 versus $449,000–$1,887,500 for commercial. The gap reflects the larger land requirements, specialized infrastructure, and different demand dynamics of industrial users.
The range from $1,585,000 to $8,762,500 reflects genuine differences in: building size and clear-ceiling height, dock-door count and type, lot size and truck-court depth, construction year and condition, power capacity (3-phase availability), office build-out percentage, lease-in-place vs. vacant, and specific micro-location within Centennial's industrial corridors. Each of these factors can materially shift a property's functional utility and income potential.
Centennial sits in southeastern Arapahoe County with direct access to I-25 and E-470, roughly 30 miles from Denver International Airport. This positions it well for last-mile logistics, light manufacturing, and distribution users, which supports demand for industrial space and tends to underpin property values relative to more remote or less-accessible locations along the Front Range.
The income approach estimates value by dividing a property's stabilized net operating income (NOI) by a market-derived capitalization rate (Value = NOI ÷ Cap Rate). It is most applicable when the property is tenanted or when reliable comparable lease data exists. For single-tenant industrial assets, it is often the primary or a strong secondary method. The challenge in a market with limited transactions like Centennial's industrial segment is extracting reliable cap-rate evidence — which is why comparable sales data remains important as a cross-check.
Centennial's industrial and warehouse inventory is concentrated in business-park and industrial zones — often designated I-1, BP, or equivalent — administered by both the City of Centennial and Arapahoe County (for unincorporated parcels). Permitted uses, setbacks, floor-area ratios, and coverage limits differ by zone and directly affect what a site can accommodate. Always verify zoning with the applicable jurisdiction, as the distinction between incorporated and unincorporated parcels in this area is consequential.
E-470 provides an eastern beltway connection reducing travel time to DIA and the I-70 freight corridor while bypassing urban congestion. Properties with convenient E-470 access tend to attract distribution and e-commerce tenants who value predictable transit times and flexible routing — which supports lease rates and therefore investment values compared to properties dependent on surface streets or more congested corridors.
Colorado assessors estimate a property's actual value, then apply a statutory assessment rate (which varies by property class and tax year) to arrive at assessed value. That assessed value is multiplied by the local mill levy to produce the annual tax bill. Non-residential (including industrial) properties carry a different assessment rate than residential. Rates have been modified in recent legislative sessions — always confirm the current rate with the Arapahoe County Assessor's office for an accurate tax projection.
Warehouses typically store goods with limited throughput infrastructure, while distribution centers are optimized for rapid movement of goods — requiring more dock doors, higher clear heights, extensive racking clearance, and often high-bay lighting and ESFR sprinklers. Distribution centers command premium rents and values due to their functional specifications. Both asset types exist in Centennial's industrial inventory, and correctly classifying a building is essential before applying income-approach rent assumptions or making sales comparison adjustments.
No. All figures are descriptive statistics derived from recorded transaction data in public Colorado county records (Arapahoe County assessor and clerk filings), aggregated for the trailing 24 months (sales on/after 2024-06-01). They are not appraisals or opinions of value and should not be used as a substitute for a formal appraisal or broker opinion of value for a specific property. For financing, litigation, or formal transactions, engage a Colorado-licensed certified general appraiser.
Request a custom research report through Colorado Land Use by submitting the property address and your question using the form on this page. We pull comparable recorded sales from Arapahoe County, review assessor records, and note applicable zoning context to produce a property-specific written summary — a substantive research foundation you can use to inform further professional analysis.
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