Multi-Tenant Office
For Sale
$1,700,000
3798 Marshall Street Wheat, Wheat Ridge, CO 80033
Well-located Wheat Ridge office property with two month-to-month tenants and independently owned office units.
Property Size10,050 SF
Days on Market88
Property Features for 3798 Marshall Street Wheat
General Information
Standard status
Active
Size
10,050 SF
Class
C
Property subtype
Office
Zoning
MU-N
Additional Details
Business Included
Yes
Building Details
Building Size
10,050 SF
Year Built
1973
Tenancy
Multi
Listing Agency:
RE/MAX
Listed By:
Doug Jennings · License #FA40024706
(303) 420-4232
Source:
Remaxcommercial
Added: Jun 17
Changed: Sep 9
Last Checked: Sep 12 at 3:26AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This for-sale commercial property is situated on a lot along Marshall Street in Wheat Ridge. The site is configured to support a professional office or service-based operation, with space that can be adapted for independent companies with a dedicated work area. The property currently has two small tenants on a month-to-month structure, and each office is independently owned and operated.
Positioned in the heart of Wheat Ridge, the property benefits from convenient access for employees and customers traveling from Wheat Ridge, Arvada, Lakewood, and Downtown Denver. Surrounding development includes established residential and neighborhood-serving commercial uses, which helps support day-to-day business activity along the corridor.
For owner-users, this offering provides the ability to purchase and control real estate rather than renewing lease arrangements. Existing tenancy on a month-to-month basis may also appeal to buyers seeking a straightforward way to hold income while evaluating long-term plans. The remarks also note the possibility of a re-development and value-add process, which may be of interest for operators considering future site improvements. Overall, it is a practical option for professional users and service providers looking for a West Denver metro presence with convenient access to the broader Denver area.
Positioned in the heart of Wheat Ridge, the property benefits from convenient access for employees and customers traveling from Wheat Ridge, Arvada, Lakewood, and Downtown Denver. Surrounding development includes established residential and neighborhood-serving commercial uses, which helps support day-to-day business activity along the corridor.
For owner-users, this offering provides the ability to purchase and control real estate rather than renewing lease arrangements. Existing tenancy on a month-to-month basis may also appeal to buyers seeking a straightforward way to hold income while evaluating long-term plans. The remarks also note the possibility of a re-development and value-add process, which may be of interest for operators considering future site improvements. Overall, it is a practical option for professional users and service providers looking for a West Denver metro presence with convenient access to the broader Denver area.
Key Highlights
- 3798 Marshall Street, Wheat Ridge, CO 80033—well‑located commercial office property on Marshall Street
- Year built 1973
- Income from 2 small tenants on a month‑to‑month (MTM) structure
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
$135,434
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
7.97%
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%
$2,708,680
$2.7M
Cap Rate 7%
$1,934,771
$1.9M
Cap Rate 9%
$1,504,822
$1.5M
Market Conditions
NOI Build-Up for 10,050 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
$203.8K $20.28/SF
− Vacancy
−$23.2K −$2.31/SF
EGI
$180.6K $17.97/SF
− OpEx
−$45.1K −$4.49/SF
NOI
$135.4K $13.48/SF
Area
Jefferson County, CO
Vacancy
11.40%
Lease Rate
$20.28 /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%
$2,708,680
Cap Rate 7%
$1,934,771
Cap Rate 9%
$1,504,822
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.26M
NOI $135,434 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.36M
$19.57M – $26.09M
NOI $1,565,542 @ 7.0% cap · market cap 92.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Well-located Wheat Ridge office property with two month-to-month tenants and independently owned office units.
Where is this office units located?
The property is located at 3798 Marshall Street Wheat Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3798 Marshall Street, Wheat Ridge, CO 80033—well‑located commercial office property on Marshall Street; Year built 1973; Income from 2 small tenants on a month‑to‑month (MTM) structure
