Based on 26 qualified recorded transactions, the median sale price for industrial and warehouse property in Commerce City is $2,337,500 — with a range spanning $277,500 to $4,548,000. But individual values depend heavily on size, configuration, zoning, and income. Here's what the data and the market actually tell us.
Tell us about your Commerce City industrial or warehouse property and we'll pull the relevant transaction data.
Colorado assessors and market appraisers use three standard approaches: the sales comparison approach, the income approach, and the cost approach. For investment-grade industrial properties, the income approach typically carries the most weight; for owner-user buildings, sales comparisons dominate.
Recent arm's-length transactions for comparable industrial properties are identified, then adjusted for differences in size, condition, location, and features. The data set above — 26 qualified Commerce City industrial sales — feeds directly into this analysis. This approach is most reliable when a sufficient number of comparable transactions exist within a reasonable distance and time frame.
The property's net operating income (NOI) — rental revenue minus operating expenses — is divided by a market-derived capitalization rate to estimate value. For leased warehouse and distribution buildings in active logistics corridors like Commerce City, this method reflects what investors will actually pay. Cap rates vary by lease term, tenant credit, and building specification. Request a report for current market cap rate context.
Replacement cost of the improvements (the building and site infrastructure) minus accrued depreciation, plus land value. Most useful for newer, special-purpose, or owner-occupied industrial facilities where a reliable comparable sales set is limited. For older Commerce City industrial buildings, functional obsolescence — older clear heights, inadequate power, or poor dock configuration — can significantly reduce the cost-approach value below replacement cost.
The wide range from $277,500 to $4,548,000 in recorded industrial sales reflects how dramatically individual property characteristics move value. Here are the primary drivers.
Modern distribution users require 28'–36' clear heights for racking efficiency. Buildings with 18'–22' clear heights serve a narrower user base and typically command lower values per square foot. Retrofitting clear height is usually not economically feasible.
The number, positioning, and type (levelers, seals) of dock-high loading doors, combined with truck court depth (ideally 130'+ for standard 53' trailers), are key functional value drivers for distribution and logistics users.
Manufacturing and cold-storage users require substantial power (400A–2,000A 3-phase at 277/480V). A building with robust power infrastructure commands a premium over one requiring costly utility upgrades for certain uses.
I-2 (General Industrial) zoning permits heavier uses, outdoor storage, and higher-impact operations than I-1 (Light Industrial). Sites with more permissive zoning have a larger potential buyer pool and often higher land value.
A leased building produces income, so the cap rate method directly links occupancy to value. A long-term lease to a creditworthy tenant can add substantial premium versus a vacant building. Conversely, below-market or short-term leases may suppress value.
Direct or near-direct access to I-270, I-76, or US-85 dramatically improves logistics appeal. Properties requiring circuitous routing to arterials face a discount versus freeway-adjacent sites in the same submarket.
Commerce City's industrial heritage means environmental risk (RECs from prior uses, petroleum proximity) is a real variable. A Phase I finding that escalates to a Phase II investigation — and any identified contamination — can materially reduce value or create transaction-blocking liability.
Older vintage industrial buildings (pre-1990) often have structural column spacing, slab capacity, and ceiling heights incompatible with modern logistics requirements. Age-related functional obsolescence is often the largest depreciation component in the cost approach.
The Adams County Assessor sets an assessed value for your property on a biennial cycle for property tax purposes. This figure is based on the assessor's mass appraisal model and may not reflect current market conditions, especially in a rapidly changing industrial market.
Market value — what a willing buyer would pay a willing seller in an arm's-length transaction — is what the 26 recorded sales in our data set reflect. The two figures can diverge significantly.
If you believe your assessed value is materially above market, Colorado's appeal process (the County Board of Equalization) has strict deadlines. Data from recorded comparable sales is the foundation of any successful appeal.
If you're selling or refinancing, an appraisal or detailed broker opinion of value (BOV) based on market transactions — not the assessor's figure — is what buyers and lenders will use.
Commerce City sits at one of Colorado's most strategically positioned logistics nodes — a convergence of interstate highways, freight rail, and airport proximity that few Front Range communities can match.
I-270 connects directly to I-70 (the primary east-west interstate through Denver), I-76 provides a northern corridor toward Fort Morgan and I-80, and US-85 runs north-south through the heart of Commerce City's industrial corridor. This three-axis accessibility means distribution operations can efficiently reach Denver metro consumers, the broader Colorado market, and regional destinations without navigating surface streets.
Commerce City is approximately 6 miles from DIA — close enough for air-freight-dependent operations (pharmaceuticals, high-value manufacturing, time-sensitive e-commerce) to benefit from proximity without the land-use restrictions imposed immediately adjacent to the airport. This positions the submarket well for users whose supply chains depend on air connectivity.
BNSF and Union Pacific lines traverse the Commerce City/North Denver industrial corridor, providing rail-served sites that serve bulk commodity users — aggregates, petroleum products, agricultural inputs — and heavy manufacturing operations. Rail access commands meaningful premiums in certain use cases where it creates real operating cost savings.
Unlike emerging suburban industrial markets where zoning approvals and infrastructure extensions are uncertain, Commerce City has a deep, established industrial zoning base — I-1 and I-2 districts with the utility infrastructure (water, sewer, power, fiber) already in place. This reduces development risk and supports a strong owner-user market for businesses that need to own their facilities.
Commerce City's position within the broader Denver metropolitan area provides access to a large and diverse labor pool for warehouse, distribution, and light manufacturing operations. The city's own workforce, combined with commute access from the northeast Denver suburbs, supports staffing at scale for major fulfillment and logistics users.
The growth of e-commerce fulfillment has concentrated last-mile distribution demand in infill submarkets close to population centers. Commerce City — already home to major retail distribution operations — sits within rapid delivery range of the Denver metro's 3 million-plus residents, making it particularly competitive for operators whose value proposition depends on speed-to-door.
A credible, property-specific value estimate requires more than a market median. Here's the four-step process Colorado Land Use uses to build a data-backed estimate from public records and market analysis.
We identify the subject property in county assessor records, confirm legal description, current zoning, land area, building area, and improvement details from the public record.
From the full county transaction database, we filter to industrial/warehouse sales matching the subject's size class, use type, and submarket, prioritizing the most recent and most physically comparable transactions.
We analyze differences between comparables and the subject — clear height, dock count, site coverage, age, condition, and lease status — to estimate a supportable value range rather than a single point estimate that implies false precision.
You receive a written research summary showing the comparable transactions used, the adjustments applied, the resulting range, and any material caveats — including environmental or zoning factors that warrant further due diligence.
Direct answers to the questions property owners, buyers, and investors most commonly ask about Commerce City warehouse and industrial values.
Stop guessing from a median. Request a specific Commerce City industrial property research report — grounded in public transaction data, delivered by Colorado Land Use.
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