Professional Office
For Sale
$849,000
18335 E 103rd Avenue 203, Commerce City, CO 80022
For-sale professional office condominium in the Reunion area, sized for a dedicated office setup.
Property Size2,624 SF
Days on Market76
Property Features for 18335 E 103rd Avenue 203
General Information
Standard status
Active
Size
2,624 SF
Total Parking Spaces
70
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$43,188
Amenities
Freight Elevator(s), Signage Included
Asphalt
Building Details
Building Size
2,624 SF
Year Built
2010
Listing Agency:
LIV SOTHEBY'S INTERNATIONAL REALTY
(720) 427-9882
Listed By:
Amanda Duran · License #FA40043784
(720) 427-9882
Source:
Evrealestate
Added: Jun 16
Changed: Aug 23
Last Checked: Aug 29 at 7:40AM
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 LIV SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This for-sale professional office condominium offers a dedicated office configuration within a condominium setting. The property includes 2,624 square feet of office space and is presented at a list price of $849,000.
Located at 18335 East 103rd Avenue in Commerce City, Colorado, the office condo is described in public remarks as being in the Reunion area. The condominium format can appeal to buyers seeking a contained, ownership-style office space rather than a traditional single-tenant lease arrangement.
Located at 18335 East 103rd Avenue in Commerce City, Colorado, the office condo is described in public remarks as being in the Reunion area. The condominium format can appeal to buyers seeking a contained, ownership-style office space rather than a traditional single-tenant lease arrangement.
Key Highlights
- Professional office condominium
- Year built: 2010
- Condo is in the Reunion area and sized for a dedicated office setup
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
$47,468
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
5.59%
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%
$949,360
$949.4K
Cap Rate 7%
$678,114
$678.1K
Cap Rate 9%
$527,422
$527.4K
Market Conditions
NOI Build-Up for 2,624 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
$78.7K $30.00/SF
− Vacancy
−$15.4K −$5.88/SF
EGI
$63.3K $24.12/SF
− OpEx
−$15.8K −$6.03/SF
NOI
$47.5K $18.09/SF
Area
Adams County, CO
Vacancy
19.60%
Lease Rate
$30.00 /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%
$949,360
Cap Rate 7%
$678,114
Cap Rate 9%
$527,422
Alternative Uses
Best Use
Office B
$678.1K
$593.4K – $791.1K
NOI $47,468 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$38.61M
$33.78M – $45.04M
NOI $2,702,493 @ 7.0% cap · market cap 318.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 80022, CO
57,432
Population
19,929
Households
2.9
Avg Household Size
32
Median Age
22%
College-Educated
80%
High-School Grad
79.6 sq mi
ZIP Area
722
Density / Sq Mi
$98,858
Median Household Income
$50,575
Median Earnings
$1,507
Median Rent
$448,400
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 - For-sale professional office condominium in the Reunion area, sized for a dedicated office setup.
Where is this office units located?
The property is located at 18335 E 103rd Avenue 203 Commerce City, CO.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Professional office condominium; Year built: 2010; Condo is in the Reunion area and sized for a dedicated office setup
