Office/Flex Condo with
For Sale
Contact for pricing
12170 Tejon St Unit 1100, Westminster, CO 80234
Newer office/flex condo in a 2018-built office park with a drive-in door, mezzanine, kitchenette, and private restroom.
Property Size2,878 SF
Price / SF$382.21
Days on Market194
Property Features for 12170 Tejon St Unit 1100
General Information
Standard status
Active
Size
2,878 SF
Class
A
Property subtype
Industrial, Office
Investment Type
Owner/User
Additional Details
Drive-In Doors
1
Building Details
Year Built
2018
Buildings
1
Stories
2
Units
1
Listing Agency:
Kinsey & Company Commercial Real Estate
Listed By:
Brady Kinsey · License #FA100049160
(303) 847-1295
Source:
Crexi
Added: Feb 25
Changed: Aug 22
Last Checked: Sep 7 at 6:10AM
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 Kinsey & Company Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2,878 SF office/flex condominium is located within a well-maintained office park built in 2018. Unit 1100 features a functional office/flex layout with a drive-in door, a built-in kitchen area, mezzanine space, and a private restroom already in place.
The condo is offered for sale and is currently occupied through June 2026, with tours coordinated through the listing broker.
The property is conveniently located just off W 120th Avenue, providing access and connectivity throughout the northwest Denver metro area.
The condo is offered for sale and is currently occupied through June 2026, with tours coordinated through the listing broker.
The property is conveniently located just off W 120th Avenue, providing access and connectivity throughout the northwest Denver metro area.
Key Highlights
- 2,878 SF office/flex condo in a well‑maintained office park built in 2018
- Drive‑in door for office or flex use plus built‑in kitchen area and mezzanine space
- Private restroom already in place within the unit
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
$42,268
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
3.84%
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%
$845,360
$845.4K
Cap Rate 7%
$603,829
$603.8K
Cap Rate 9%
$469,644
$469.6K
Market Conditions
NOI Build-Up for 2,878 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
$74.9K $26.04/SF
− Vacancy
−$18.6K −$6.46/SF
EGI
$56.4K $19.58/SF
− OpEx
−$14.1K −$4.90/SF
NOI
$42.3K $14.69/SF
Area
Westminster, CO
Vacancy
24.80%
Lease Rate
$26.04 /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%
$845,360
Cap Rate 7%
$603,829
Cap Rate 9%
$469,644
Alternative Uses
Best Use
Office B
$603.8K
$528.4K – $704.5K
NOI $42,268 @ 7.0% cap · market cap 3.84%
Second Best
Flex RnD
$421.2K
$368.6K – $491.4K
NOI $29,486 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$841.2K
$736.1K – $981.4K
NOI $58,884 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80234, CO
29,660
Population
12,814
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,237
Density / Sq Mi
$88,714
Median Household Income
$50,926
Median Earnings
$1,772
Median Rent
$493,900
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?
Flex space - Newer office/flex condo in a 2018-built office park with a drive-in door, mezzanine, kitchenette, and private restroom.
Where is this flex space located?
The property is located at 12170 Tejon St Unit 1100 Westminster, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,878 SF office/flex condo in a well‑maintained office park built in 2018; Drive‑in door for office or flex use plus built‑in kitchen area and mezzanine space; Private restroom already in place within the unit
