Medical Office Condominium For
For Sale
Contact for pricing
10001 Washington St, Thornton, CO 80229
10,958 SF medical office condominium, 100% occupied.
Property Size10,958 SF
Price / SF$296.19
Days on Market169
Property Features for 10001 Washington St
General Information
Standard status
Active
Size
10,958 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Core+
Net Operating Income
$227,205
Building Details
Year Built
1978
Year Renovated
2025
Buildings
1
Stories
2
Listing Agency:
Recentric Real Estate
Listed By:
Darren Nakos · License #CO ER40042508
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 11 at 10:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Recentric Real Estate
Investment Insights
Based on property information with market context.
This is a 10,958 square foot medical office condominium. The property is 100% occupied. It is located in North Washington Medical and is anchored by established healthcare users including Heartland Dental, MyEyeDr., and Rocky Mountain Gastroenterology. The property provides immediate and predictable cash flow with limited volatility.
Key Highlights
- 100% occupied, providing immediate and predictable cash flow.
- Anchored by established healthcare users: Heartland Dental, MyEyeDr., and Rocky Mountain Gastroenterology.
- 10,958 SF medical office condominium.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,016
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,840,320
$2.8M
Cap Rate 7%
$2,028,800
$2.0M
Cap Rate 9%
$1,577,956
$1.6M
Market Conditions
NOI Build-Up for 10,958 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$263.0K $24.00/SF
− Vacancy
−$26.3K −$2.40/SF
EGI
$236.7K $21.60/SF
− OpEx
−$94.7K −$8.64/SF
NOI
$142.0K $12.96/SF
Area
ZIP 80229
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,840,320
Cap Rate 7%
$2,028,800
Cap Rate 9%
$1,577,956
Alternative Uses
Best Use
Healthcare Medical
$2.03M
$1.78M – $2.37M
NOI $142,016 @ 7.0% cap · market cap 4.38%
Second Best
Office B
$1.91M
$1.67M – $2.23M
NOI $133,554 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$3.33M
$2.91M – $3.88M
NOI $232,846 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,171
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80229, CO
54,153
Population
20,130
Households
2.7
Avg Household Size
33
Median Age
20%
College-Educated
79%
High-School Grad
12.5 sq mi
ZIP Area
4,332
Density / Sq Mi
$83,450
Median Household Income
$42,198
Median Earnings
$1,719
Median Rent
$382,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Guardian Angel Veterinary Care — 873 Thornton Pkwy, Thornton, CO 80229
- Banfield Pet Hospital — 10600 Melody Dr, Northglenn, CO 80234
Frequently Asked Questions
What type of property is this?
Medical Office Space - 10,958 SF medical office condominium, 100% occupied.
Where is this medical office space located?
The property is located at 10001 Washington St Thornton, CO.
What is the asking price?
The asking price for this property is $3,245,686.
What are key features of this property?
This property features: 100% occupied, providing immediate and predictable cash flow.; Anchored by established healthcare users: Heartland Dental, MyEyeDr., and Rocky Mountain Gastroenterology.; 10,958 SF medical office condominium.
