Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6690 W 38 Ave Wheat Ridge, CO

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Infill development land with approved multi-tenant retail/office plan.

    Type:RETAIL
    Property size:
    2,500 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $520/SF
    Added:
    Aug 15, 2023
    Days on Market:
    990
    Last Refresh:
    Apr 5 at 10:56 pm

    Property Features for 6690 W 38 Ave

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Lot size
    0.50 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Sam Leger
    Sam Leger

    Listing agent Sam Leger License #40042452

    Listing office Unique Properties, Inc.

    Listing date Aug 15, 2023

    Source Moodyscre

    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 Unique Properties, Inc.

    Overview

    Wheat Ridge Development Land

    This infill development land is located in the heart of Wheat Ridge, in a walkable and growing neighborhood. The property has an approved site development plan for a multi-tenant retail/office building. The property size is 2,500 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheat Ridge
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.071
    Latitude
    39.7691

    Nearby Similar for Sale

    • $637,000
      2,268 SF

      Wheat Ridge Commercial Live/Work Property

      Centrally located commercial property with live/work potential on large lot.
      7114 W 44th Ave, Wheat Ridge, CO 80033
      View Details
    • $637,000
      2,268 SF

      Wheat Ridge Commercial Live-Work Property

      Centrally located commercial property with offices, storage, and workshop.
      7114 W 44th Avenue, Wheat Ridge, CO 80033
      View Details
    • $499,000
      625 SF

      Corner Lot with Commercial Zoning

      Commercial land for sale in high-traffic area.
      10350 West 38th Ave., Wheat Ridge , CO 80033
      View Details
    • $1,475,000
      7,943 SF

      Wadsworth Blvd Office Building For Sale

      7,943 SF building suitable for owner-users and investors.
      3280 WADSWORTH BLVD, WHEAT RIDGE, CO 80033
      View Details
    • $825,000
      2,388 SF

      Developable Land in Wheat Ridge

      Corner lot near Tennyson Street, zoned C-1 for automotive uses.
      Wheat Ridge, CO 80212
      View Details
    • $450,000
      2,122 SF

      Wheat Ridge Suburban Office Condo

      Pristine 2,122 SF office condo with multiple offices and entrances.
      7867 West 38th Avenue, Wheat Ridge, CO 80033
      View Details
    • $115,000
      1,128 SF

      Remodeled Office Suite For Sale

      Office suite near Exempla Lutheran Medical Center, remodeled in 2018.
      4045 Wadsworth Blvd #306, Wheat Ridge, CO 80033
      View Details
    • $1,495,000
      4,800 SF

      Wheat Ridge Townhome-Style Units

      Six townhome-style units with renovation upside in prime location.
      4510 Everett Ct, Wheat Ridge, CO 80033
      View Details
    • $4,800,000
      38,114 SF

      Wheat Ridge Office/Warehouse Opportunity

      38,114 SF office, light industrial and warehouse facility for sale.
      4725 Independence Street, Wheat Ridge, CO 80033
      View Details
    • $959,000

      Investment Property Near 38th Avenue

      Multifamily property near amenities and transportation.
      3728 Vance St, Wheat Ridge, CO 80033
      View Details
    • $1,225,000
      7,943 SF

      Wheat Ridge Office Property

      Office building with long-term medical tenant and updated features.
      3280 Wadsworth Boulevard, Wheat Ridge, CO 80033
      View Details
    • $1,595,000
      3,000 SF

      Retail/Automotive Space on W. 44th

      Retail/automotive space with high visibility and traffic exposure.
      9695 W 44th Ave, Wheat Ridge, CO
      View Details

    FAQs

    What type of property is this?
    Commercial land - Infill development land with approved multi-tenant retail/office plan.
    Where is this commercial land located?
    The property is located at 6690 W 38 Ave Wheat Ridge, CO.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Approved site development plan for multi‑tenant retail/office; Infill development land; Located in the heart of Wheat Ridge
    (303) 941-8112 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sam Leger
    Sam Leger
    Real Estate License ID: 40042452
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!