Two-Level Flex
For Sale
Contact for pricing
1501 W 124th Ave Suite 600, Westminster, CO 80234
Finished office and warehouse condominium with private offices, mezzanine space, and an overhead door.
Property Size1,991 SF
Price / SF$400
Days on Market13
Property Features for 1501 W 124th Ave Suite 600
General Information
Standard status
Active
Size
1,991 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2016
Buildings
1
Stories
2
Units
1
Listing Agency:
Kinsey & Company Commercial Real Estate
(303) 847-1295
Listed By:
Brady Kinsey · License #FA100049160
Source:
Crexi
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 31 at 7:12PM
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.
Suite 600 is a 1,991-square-foot office/flex condominium in a two-level configuration. The layout includes four private offices, an open mezzanine, warehouse space, a 14' x 14' overhead door, an ADA restroom, and a kitchenette. Polished concrete floors, exposed steel, and glass-enclosed offices contribute to the contemporary interior. The project was constructed in 2016.
The property is located at 1501 W 124th Ave near W 120th Avenue and I-25 in Westminster. Its setting provides access to the 124th Avenue retail and hospitality corridor, with Target, Sprouts, Safeway, Chick-fil-A, hotels, and restaurants nearby. Other occupants at Urban Box include Melco, Krayden, MTech Mechanical, Chicago Title of Colorado, and The Center at Northridge.
The property is located at 1501 W 124th Ave near W 120th Avenue and I-25 in Westminster. Its setting provides access to the 124th Avenue retail and hospitality corridor, with Target, Sprouts, Safeway, Chick-fil-A, hotels, and restaurants nearby. Other occupants at Urban Box include Melco, Krayden, MTech Mechanical, Chicago Title of Colorado, and The Center at Northridge.
Key Highlights
- 1,991 SF office/flex condominium at Urban Box
- Two‑level layout with four private offices and an open mezzanine
- Warehouse area with a 14' x 14' overhead door
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
$29,241
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
3.67%
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%
$584,820
$584.8K
Cap Rate 7%
$417,729
$417.7K
Cap Rate 9%
$324,900
$324.9K
Market Conditions
NOI Build-Up for 1,991 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
$51.8K $26.04/SF
− Vacancy
−$12.9K −$6.46/SF
EGI
$39.0K $19.58/SF
− OpEx
−$9.7K −$4.90/SF
NOI
$29.2K $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%
$584,820
Cap Rate 7%
$417,729
Cap Rate 9%
$324,900
Alternative Uses
Best Use
Office B
$417.7K
$365.5K – $487.4K
NOI $29,241 @ 7.0% cap · market cap 3.67%
Second Best
Flex RnD
$291.4K
$255.0K – $340.0K
NOI $20,398 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$581.9K
$509.2K – $678.9K
NOI $40,736 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,613
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 - Finished office and warehouse condominium with private offices, mezzanine space, and an overhead door.
Where is this flex space located?
The property is located at 1501 W 124th Ave Suite 600 Westminster, CO.
What is the asking price?
The asking price for this property is $796,400.
What are key features of this property?
This property features: 1,991 SF office/flex condominium at Urban Box; Two‑level layout with four private offices and an open mezzanine; Warehouse area with a 14' x 14' overhead door
