Building Details

Building Size 5,000 SF

Tenancy Multi

Listing Agency: Hoff & Leigh Show Phone

Listed By: Jayme Wilson · License #FA100088653 Show Phone

Source: Hoffleigh

Added: Aug 31 Changed: Oct 7 Last Checked: Oct 16 at 5:37AM

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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

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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.

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 / Yr

$67,253

Cap Rate

6.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,345,060 $1.3M

Cap Rate 7%

$960,757 $960.8K

Cap Rate 9%

$747,256 $747.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

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 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 (±1% cap)

NOI $67,253 @ 7.0% cap · market cap 6.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,832 @ 7.0% cap · market cap 10.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Cafe & Coffee Shop Food Market Daycare Center Grocery & Convenience Store Furniture & Home Goods Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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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 $999,000.

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