Individually Owned 
For Lease
1 / 13
Contact for pricing
8850 West 38Th Ave, Wheat Ridge, CO 80033
View Listing →
Property summary
AI-generated overview
This exceptional Wheat Ridge office property presents a fantastic leasing opportunity. Situated between Wadsworth and Kipling on West 38th Avenue, this conveniently located building offers immediate proximity to Lutheran Medical Center. The property encompasses a total of 4,850 square feet, housed within a single, two-story Class B building constructed in 1981 and extensively renovated in 2023. Currently, a single, contiguous suite of 2,524 square feet is available for lease, representing a significant portion of the building's total space. The building is comprised of three suites in total, making it an ideal setting for a variety of businesses. Ample parking is provided with 26 off-street spaces. The property sits on a 0.35-acre lot (15,967 square feet) and offers excellent visibility and signage opportunities along West 38th Avenue. The building does not include elevators. This is a rare opportunity to secure a well-maintained, updated office space in a highly desirable location with convenient access to major thoroughfares and essential services. The blend of traditional and creative office space makes it suitable for a diverse range of businesses.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
STEEL FRAME
Total area
2,385 SF
Lot
0.37 ac (15,967 SF)
APN
39-271-03-001
UPID
US13-0878232
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$574k
Blend (final)
Blend
$520k
Owner & transaction history
since 2020
6 recorded transactions
Zoning & alternative use
Top alternative use upside
Medical building
$565,000
+5.6%
Retail stores
$545,000
+2.1%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 10 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$520k
Value range
$468k – $572k
±10% around blend
Estimated value / SF
$218 / SF
Confidence
High
10 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
Income certainty
100
$468k
blend $520k
$572k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,385 SF
Lot area
0.37 ac
Year built
1981
Stories
3
APN
39-271-03-001
Assessed value
$148,484
Annual tax
$14,131
3
Income approach: direct capitalization
Partial preview
Income approach indication
$525k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$570k
@ 6.5% CAP return
$525k
@ 7% CAP return
$490k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$14,131
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$781k
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.8 mi away · 2,209 SF
8.3 mi away · 2,562 SF
11.1 mi away · 2,537 SF
11.7 mi away · 1,756 SF
15.6 mi away · 1,901 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$520k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 44 sales
$225
-3%
County 319 sales
$213
+2%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $218/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+6%
vs current-use indication
Retail Stores
Office Building · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$934k
Move the market yield to see immediate price impact.
Value / SF
$391
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$59k
$1.18M
$840k
$654k
$65k
$1.31M
$934k
$726k
$72k
$1.44M
$1.03M
$799k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$800k
1.4 mi · Jan 2026 · $452/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$14,131
Tax year 2023
Assessed value
$148,484
Assessed 2023
Previous assessed
$148,484
+0.0% YoY
Effective rate
9.52%
On assessed value
Assessed land
$104,688
Assessed improvement
$43,796
Land market value
$375,225
Improvement market value
$186,975
Total market value
$562,200
Applied tax rate
3,137.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1981
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
3
Total area
2,385 SF
Lot
0.37 ac (15,967 SF)
APN
39-271-03-001
UPID
US13-0878232
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Lot
0.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
