Medical Office Building with Lake
For Sale
$2,995,000
16677 Lowell Blvd, Broomfield, CO 80023
Medical office building offering decks and patios overlooking a lake, suited to owner-users seeking flexible lease terms.
Property Size7,047 SF
Days on Market62
Property Features for 16677 Lowell Blvd
General Information
Standard status
Active
Size
7,047 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$80,831
Building Details
Building Size
7,047 SF
Year Built
2005
Listing Agency:
Gibbons-White, Inc.
(303) 586-5939
Listed By:
Michael-Ryan McCarty · License #FA.040029628
(303) 586-5939
Source:
Elliman
Added: Jun 25
Changed: Aug 12
Last Checked: Aug 24 at 8:47AM
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 Gibbons-White, Inc.
Investment Insights
Based on property information with market context.
This medical office building is offered for sale or lease and is set in a tranquil setting with decks and patios overlooking a lake. The property’s outdoor spaces are positioned to take advantage of the surrounding scenery, supporting a professional environment for staff and visitors.
The building is located on East Baseline near Hwy 7, with convenient access to I-25 and the Northwest Parkway/E-470. Based on the available area scores, the location is car-dependent, with no nearby transit indicated.
For buyers, the asset is described as providing owner-user potential, with a mix of long- and short-term leases currently in place. That combination can be practical for medical operators or related professional users who want to evaluate near-term flexibility while managing existing tenancy. The building’s medical office orientation, along with its distinctive lake-view outdoor features, may be a strong match for businesses prioritizing a calm setting and a working environment designed for client-facing operations.
The building is located on East Baseline near Hwy 7, with convenient access to I-25 and the Northwest Parkway/E-470. Based on the available area scores, the location is car-dependent, with no nearby transit indicated.
For buyers, the asset is described as providing owner-user potential, with a mix of long- and short-term leases currently in place. That combination can be practical for medical operators or related professional users who want to evaluate near-term flexibility while managing existing tenancy. The building’s medical office orientation, along with its distinctive lake-view outdoor features, may be a strong match for businesses prioritizing a calm setting and a working environment designed for client-facing operations.
Key Highlights
- Medical office building built in 2005
- Decks and patios overlooking a lake
- Mix of long- and short‑term leases currently in place
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
$94,853
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
3.17%
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%
$1,897,060
$1.9M
Cap Rate 7%
$1,355,043
$1.4M
Cap Rate 9%
$1,053,922
$1.1M
Market Conditions
NOI Build-Up for 7,047 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
$178.4K $25.32/SF
− Vacancy
−$20.3K −$2.89/SF
EGI
$158.1K $22.43/SF
− OpEx
−$63.2K −$8.97/SF
NOI
$94.9K $13.46/SF
Area
Jefferson County, CO
Vacancy
11.40%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
40.00%
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%
$1,897,060
Cap Rate 7%
$1,355,043
Cap Rate 9%
$1,053,922
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.58M
NOI $94,966 @ 7.0% cap · market cap 3.17%
Second Best
Healthcare Medical
$1.36M
$1.19M – $1.58M
NOI $94,853 @ 7.0% cap · market cap 3.17%
Theoretical Best
Multifamily LT 5
$15.68M
$13.72M – $18.30M
NOI $1,097,749 @ 7.0% cap · market cap 36.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80023, CO
25,964
Population
10,647
Households
2.4
Avg Household Size
41
Median Age
68%
College-Educated
98%
High-School Grad
18.5 sq mi
ZIP Area
1,403
Density / Sq Mi
$159,970
Median Household Income
$81,850
Median Earnings
$2,073
Median Rent
$820,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building offering decks and patios overlooking a lake, suited to owner-users seeking flexible lease terms.
Where is this medical office space located?
The property is located at 16677 Lowell Blvd Broomfield, CO.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Medical office building built in 2005; Decks and patios overlooking a lake; Mix of long- and short‑term leases currently in place
