Turnkey Retail Condo in
For Sale
Contact for pricing
10860 Dover St, Westminster, CO
Adaptable space for retail, restaurant, or creative showroom uses.
Property Size3,600 SF
Lot Size4.30 Acres
Price / SF$226.67
Days on Market262
Property Features for 10860 Dover St
General Information
Standard status
Active
Size
3,600 SF
Lot size
4.30 Acres
Property subtype
INDUSTRIAL
Listing Agency:
The Colorado Group, Inc.
(303) 589-5261
Listed By:
W. Scott Reichenberg · License #100056212
(303) 589-5261
Source:
Moodyscre
Added: Dec 3, 2025
Changed: Aug 8
Last Checked: Aug 21 at 8:16AM
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 The Colorado Group, Inc.
Investment Insights
Based on property information with market context.
This turnkey flex/retail condo is located in Westminster’s Walnut Creek district. Currently built out and operated as a craft-distillery tasting room, the suite is set in a single-story business park with ample surface parking. The property features modern high-end construction and adaptable space suitable for beverage/food consumption, specialty retail/restaurant, or creative showroom uses. Outdoor seating is available. The location is accessible, situated just off US-36 and Wadsworth, with everyday conveniences nearby, including Target, Westminster Promenade, The Shops at Walnut Creek, and AMC Theaters. This location draws steady traffic to the trade area. It is ideal for an owner-user seeking an experiential retail food and/or bar concept or catering in an amenity-rich setting. The property size is 3600 square feet.
Key Highlights
- Turnkey flex/retail condo currently operating as a craft‑distillery tasting room.
- Adaptable space suitable for beverage/food consumption, specialty retail/restaurant, or creative showroom uses.
- Located in Westminster’s Walnut Creek district, accessible off US‑36 and Wadsworth.
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
$52,844
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
6.48%
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%
$1,056,880
$1.1M
Cap Rate 7%
$754,914
$754.9K
Cap Rate 9%
$587,156
$587.2K
Market Conditions
NOI Build-Up for 3,600 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
$75.6K $21.00/SF
− Vacancy
−$5.1K −$1.43/SF
EGI
$70.5K $19.57/SF
− OpEx
−$17.6K −$4.89/SF
NOI
$52.8K $14.68/SF
Area
Westminster, CO
Vacancy
6.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,056,880
Cap Rate 7%
$754,914
Cap Rate 9%
$587,156
Alternative Uses
Best Use
Specialty Retail
$754.9K
$660.6K – $880.7K
NOI $52,844 @ 7.0% cap · market cap 6.48%
Second Best
Retail
$626.6K
$548.3K – $731.0K
NOI $43,861 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.05M
$920.7K – $1.23M
NOI $73,656 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Adaptable space for retail, restaurant, or creative showroom uses.
Where is this retail space located?
The property is located at 10860 Dover St Westminster, CO.
What is the asking price?
The asking price for this property is $816,000.
What are key features of this property?
This property features: Turnkey flex/retail condo currently operating as a craft‑distillery tasting room.; Adaptable space suitable for beverage/food consumption, specialty retail/restaurant, or creative showroom uses.; Located in Westminster’s Walnut Creek district, accessible off US‑36 and Wadsworth.
