Two-Tenant Medical Office
For Sale
$1,999,999
13770 E Rice Pl, Aurora, CO 80015
Well maintained two-tenant medical/professional office building with a long-term behavioral health tenant.
Property Size10,023 SF
Lot Size0.62 Acres
Price / SF$203.56
Days on Market39
Property Features for 13770 E Rice Pl
General Information
Standard status
Active
Size
10,023 SF
Lot size
0.62 Acres
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
7.48%
Amenities
• 100% leased at closing to Above & Beyond ABA Therapy and Cave Law • Predictable income stream with staggered lease expirations and built-in rent growth
• Above & Beyond ABA Therapy signed a new lease in 2025 running through 2032 • Includes annual rent increases and extension option • Essential services behavioral health provider with growing national
• Cave Law will execute a new 7 year lease at closing • Ensures immediate stability and continuity of occupancy
Building Details
Building Size
10,023 SF
Year Built
1984
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2013
Listed By:
Erik Enstad · License #License(s): CO: FA.100089977
(303) 328-2013
Source:
Marcusmillichap
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 22 at 3:33AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
13770 E Rice Place is a well maintained, two-tenant medical/professional office building totaling 9,825 rentable square feet on 0.62 acres. The property is anchored by Above & Beyond ABA Therapy, a behavioral health operator specializing in center-based autism therapy. ABA Therapy executed a new 7-year lease in 2025, running through 2032, with annual rent increases and an extension option.
At closing, the second tenant, Cave Law (the current owner), will execute a new 7-year lease, providing immediate continuity of occupancy. The asset is located in the Southeast Aurora submarket with highly accessible positioning near major arterials and within an area supported by residential density and regional employment centers.
With a dual-tenant structure, the building offers a stabilized configuration centered on healthcare and professional services tenancy, supported by long-term lease terms.
At closing, the second tenant, Cave Law (the current owner), will execute a new 7-year lease, providing immediate continuity of occupancy. The asset is located in the Southeast Aurora submarket with highly accessible positioning near major arterials and within an area supported by residential density and regional employment centers.
With a dual-tenant structure, the building offers a stabilized configuration centered on healthcare and professional services tenancy, supported by long-term lease terms.
Key Highlights
- Two‑tenant medical/professional office building built in 1984.
- 9,825 rentable SF on 0.62 acres.
- Above & Beyond ABA Therapy executed a new 7‑year lease in 2025 through 2032, with annual rent increases and an extension option.
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
$175,082
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
8.75%
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%
$3,501,640
$3.5M
Cap Rate 7%
$2,501,171
$2.5M
Cap Rate 9%
$1,945,356
$1.9M
Market Conditions
NOI Build-Up for 9,825 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
$265.3K $27.00/SF
− Vacancy
−$31.8K −$3.24/SF
EGI
$233.4K $23.76/SF
− OpEx
−$58.4K −$5.94/SF
NOI
$175.1K $17.82/SF
Area
ZIP 80015
Vacancy
12.00%
Lease Rate
$27.00 /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%
$3,501,640
Cap Rate 7%
$2,501,171
Cap Rate 9%
$1,945,356
Alternative Uses
Best Use
Office B
$2.50M
$2.19M – $2.92M
NOI $175,082 @ 7.0% cap · market cap 8.75%
Second Best
Healthcare Medical
$1.99M
$1.75M – $2.33M
NOI $139,641 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$3.32M
$2.91M – $3.87M
NOI $232,404 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80015, CO
71,466
Population
25,482
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
94%
High-School Grad
16.3 sq mi
ZIP Area
4,384
Density / Sq Mi
$121,640
Median Household Income
$57,827
Median Earnings
$2,190
Median Rent
$558,900
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?
Medical Office Space - Well maintained two-tenant medical/professional office building with a long-term behavioral health tenant.
Where is this medical office space located?
The property is located at 13770 E Rice Pl Aurora, CO.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Two‑tenant medical/professional office building built in 1984.; 9,825 rentable SF on 0.62 acres.; Above & Beyond ABA Therapy executed a new 7‑year lease in 2025 through 2032, with annual rent increases and an extension option.
