Office Condominium with Conference
New
For Sale
$345,000
12021 Pennsylvania Street #206, Thornton, CO 80241
Furnished office condominium with a defined reception area, private offices, meeting space, kitchenette, restrooms, and storage.
Property Size1,440 SF
Price / SF$239.58
Days on Market2
Property Features for 12021 Pennsylvania Street #206
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
1
Elevators
No
Property subtype
Commercial
Zoning
Commerical 2
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,635
Building Details
Building Size
1,440 SF
Year Built
2000
Units
1
Tenancy
Multi
Listing Agency:
Brokers Guild Real Estate
(720) 788-4782
Listed By:
Laura Manriquez Ochoa
(720) 788-4782
Source:
Coloradopartners
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 2:19AM
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 Brokers Guild Real Estate
Investment Insights
Based on property information with market context.
This office condominium provides 1,440 square feet of furnished workspace within the Penn Plaza complex. The layout includes a lobby, four offices, a conference room, a kitchenette with sink, two restrooms, and a substantial storage room. The property was built in 2000 and does not have elevator access.
Positioned just off I-25 and 120th, the office is located at 12021 Pennsylvania Street in Thornton, Colorado. Ample parking is available, and the property carries Commercial 2 zoning. The existing configuration combines reception, private work areas, meeting space, support facilities, and storage in a single office suite.
Positioned just off I-25 and 120th, the office is located at 12021 Pennsylvania Street in Thornton, Colorado. Ample parking is available, and the property carries Commercial 2 zoning. The existing configuration combines reception, private work areas, meeting space, support facilities, and storage in a single office suite.
Key Highlights
- 1,440 SF furnished office condominium in the Penn Plaza complex
- Four offices, a large conference room, lobby, kitchenette, two restrooms, and storage room
- Located just off I‑25 and 120th
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
$21,384
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
6.20%
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%
$427,680
$427.7K
Cap Rate 7%
$305,486
$305.5K
Cap Rate 9%
$237,600
$237.6K
Market Conditions
NOI Build-Up for 1,440 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
$38.0K $26.40/SF
− Vacancy
−$9.5K −$6.60/SF
EGI
$28.5K $19.80/SF
− OpEx
−$7.1K −$4.95/SF
NOI
$21.4K $14.85/SF
Area
Thornton, CO
Vacancy
25.00%
Lease Rate
$26.40 /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%
$427,680
Cap Rate 7%
$305,486
Cap Rate 9%
$237,600
Alternative Uses
Best Use
Office B
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.3K
$377.4K – $503.2K
NOI $30,192 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 80241, CO
33,097
Population
12,724
Households
2.6
Avg Household Size
37
Median Age
41%
College-Educated
92%
High-School Grad
6.6 sq mi
ZIP Area
5,015
Density / Sq Mi
$107,553
Median Household Income
$51,614
Median Earnings
$2,036
Median Rent
$502,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Furnished office condominium with a defined reception area, private offices, meeting space, kitchenette, restrooms, and storage.
Where is this office units located?
The property is located at 12021 Pennsylvania Street #206 Thornton, CO.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,440 SF furnished office condominium in the Penn Plaza complex; Four offices, a large conference room, lobby, kitchenette, two restrooms, and storage room; Located just off I‑25 and 120th
