Professional Office
For Sale
$665,000
12381 E Cornell Avenue, Aurora, CO 80014
Multiple executive and management offices support professional-service operations, with conference, bullpen, break, and storage areas.
Property Size4,818 SF
Days on Market13
Property Features for 12381 E Cornell Avenue
General Information
Standard status
Active
Size
4,818 SF
Class
B
Total Parking Spaces
2
Property subtype
Commercial
Zoning
08005
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,497
Building Details
Building Size
4,818 SF
Year Built
1983
Units
20
Listing Agency:
Corcoran Perry & Co.
(303) 808-4993
Listed By:
Michelle Conway
(303) 808-4993
Source:
Coloradopartners
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 10 at 11:24AM
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 Corcoran Perry & Co.
Investment Insights
Based on property information with market context.
This office condominium includes multiple executive and management offices, a conference center or training room, two bullpen areas, and dedicated break and storage rooms. Two private entrances support flexible circulation within the professional office layout. The property was built in 1983.
Located within the Stonehenge at the Dam office development in southeast Denver Metro, the property is adjacent to The Point at Nine Mile Station transit-oriented development in Aurora. Nearby access includes highways, light-rail and transit facilities, employment opportunities, housing, grocery stores, restaurants, and regional bike paths linking Cherry Creek State Park to Downtown Denver.
The configuration is suited to professional service businesses, including attorneys, engineers, consultants, doctors, dentists, therapists, insurance agents, marketing firms, architects, building contractors, and other small business or service professionals.
Located within the Stonehenge at the Dam office development in southeast Denver Metro, the property is adjacent to The Point at Nine Mile Station transit-oriented development in Aurora. Nearby access includes highways, light-rail and transit facilities, employment opportunities, housing, grocery stores, restaurants, and regional bike paths linking Cherry Creek State Park to Downtown Denver.
The configuration is suited to professional service businesses, including attorneys, engineers, consultants, doctors, dentists, therapists, insurance agents, marketing firms, architects, building contractors, and other small business or service professionals.
Key Highlights
- Multiple executive and management offices
- Conference center or training room
- Two bullpen areas with dedicated break and storage rooms
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
$60,880
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
9.15%
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%
$1,217,600
$1.2M
Cap Rate 7%
$869,714
$869.7K
Cap Rate 9%
$676,444
$676.4K
Market Conditions
NOI Build-Up for 4,818 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
$104.1K $21.60/SF
− Vacancy
−$22.9K −$4.75/SF
EGI
$81.2K $16.85/SF
− OpEx
−$20.3K −$4.21/SF
NOI
$60.9K $12.64/SF
Area
Aurora, CO
Vacancy
22.00%
Lease Rate
$21.60 /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%
$1,217,600
Cap Rate 7%
$869,714
Cap Rate 9%
$676,444
Alternative Uses
Best Use
Office B
$869.7K
$761.0K – $1.01M
NOI $60,880 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,240 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 80014, CO
41,711
Population
19,903
Households
2.1
Avg Household Size
40
Median Age
44%
College-Educated
93%
High-School Grad
7.2 sq mi
ZIP Area
5,793
Density / Sq Mi
$72,561
Median Household Income
$47,950
Median Earnings
$1,800
Median Rent
$386,500
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 - Multiple executive and management offices support professional-service operations, with conference, bullpen, break, and storage areas.
Where is this office units located?
The property is located at 12381 E Cornell Avenue Aurora, CO.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Multiple executive and management offices; Conference center or training room; Two bullpen areas with dedicated break and storage rooms
