Three-Unit Retail
New
For Sale
$1,075,000
11950 West Colfax Avenue, Lakewood, CO 80033
Fully leased commercial condos offer multi-tenant occupancy, parking, and exposure along a heavily traveled corridor.
Property Size5,000 SF
Price / SF$215
Days on Market3
Property Features for 11950 West Colfax Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Retail
Zoning
M-G-S
Occupancy
100%
Additional Details
Cap Rate
7%
Building Details
Building Size
5,000 SF
Tenancy
Multi
Listing Agency:
Hoff & Leigh Colorado Springs
(720) 572-5187
Listed By:
Jayme Wilson · License #FA100088653
(719) 722-8632
Source:
Hoffleigh
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:29PM
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 Hoff & Leigh Colorado Springs
Investment Insights
Based on property information with market context.
The property comprises three commercial condominium units positioned on the west side of the building, with approximately 5,000 square feet in total. All three units are leased to multiple established tenants, and current tenancy extends through 2029. The offering reflects a 7.0% cap rate and diversified occupancy across the units.
Located along W Colfax Avenue, the property benefits from high traffic counts, ample parking, and access to surrounding neighborhoods and the greater Denver metro area. The commercial condos are zoned M-G-S.
Located along W Colfax Avenue, the property benefits from high traffic counts, ample parking, and access to surrounding neighborhoods and the greater Denver metro area. The commercial condos are zoned M-G-S.
Key Highlights
- Three commercial condo units on the west side of the building
- Approximately 5,000 square feet total
- Fully leased to multiple established tenants
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
$67,253
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
6.26%
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%
$1,345,060
$1.3M
Cap Rate 7%
$960,757
$960.8K
Cap Rate 9%
$747,256
$747.3K
Market Conditions
NOI Build-Up for 5,000 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
$105.0K $21.00/SF
− Vacancy
−$8.9K −$1.79/SF
EGI
$96.1K $19.22/SF
− OpEx
−$28.8K −$5.76/SF
NOI
$67.3K $13.45/SF
Area
Lakewood, CO
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,345,060
Cap Rate 7%
$960,757
Cap Rate 9%
$747,256
Alternative Uses
Best Use
Retail
$960.8K
$840.7K – $1.12M
NOI $67,253 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,832 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
419k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 43%
Dining 18%
Groceries 9%
Electronics 8%
Target
Superstores
181,988 visits/mo
0.4 miles
Whole Foods Market
Groceries
38,196 visits/mo
0.4 miles
Best Buy
Electronics
34,434 visits/mo
0.1 miles
Dollar Tree
Shops & Services
23,928 visits/mo
0.3 miles
Regal UA Colorado Mills
Leisure
23,280 visits/mo
0.5 miles
Demographics for 80033, CO
26,618
Population
13,257
Households
2
Avg Household Size
42
Median Age
44%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
3,207
Density / Sq Mi
$84,719
Median Household Income
$53,503
Median Earnings
$1,536
Median Rent
$568,900
Median Home Value
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 - Fully leased commercial condos offer multi-tenant occupancy, parking, and exposure along a heavily traveled corridor.
Where is this retail space located?
The property is located at 11950 West Colfax Avenue Lakewood, CO.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Three commercial condo units on the west side of the building; Approximately 5,000 square feet total; Fully leased to multiple established tenants
