Turnkey Medical Office
For Sale
$3,750,000
20 W Dry Creek Circle, Littleton, CO 80120
Modernized medical office building in Littleton's healthcare corridor.
Property Size14,846 SF
Lot Size2.00 Acres
Price / SF$252.59
Days on Market123
Property Features for 20 W Dry Creek Circle
General Information
Standard status
Active
Size
14,846 SF
Total Parking Spaces
60
Lot size
2.00 Acres
Zoning
CM/PL-O
Taxes and HOA fees
Annual Taxes
$64,776
Building Details
Building Size
14,846 SF
Year Built
1999
Stories
1
Listing Agency:
CBRE, Inc.
(303) 628-1787
Listed By:
Colton Reimer · License #100090094
(303) 628-1787
Source:
Evrealestate
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 24 at 5:40AM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This is a 14,846 square foot medical office building located in Littleton. The property was fully modernized in 2022 with $1.5 million in upgrades. Situated on a two-acre site, the building includes 60 surface parking spaces. The building offers multiple direct-entry suites. The property is located near C-470, South Broadway, and Littleton Adventist Hospital. The location offers high accessibility. The building is suitable for medical or professional users. The bike score is 44, indicating it is somewhat bikeable. The walk score is 54, indicating it is somewhat walkable. The transit score is 32, indicating some transit options are available. The property will be delivered vacant for immediate owner-user occupancy.
Key Highlights
- Turnkey 14,846 SF medical office building (MOB) delivered vacant for immediate owner‑user occupancy.
- $1.5M in 2022 upgrades; fully modernized.
- Located in Littleton’s premier healthcare corridor near C‑470, South Broadway, and Littleton Adventist Hospital.
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
$258,707
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
6.90%
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%
$5,174,140
$5.2M
Cap Rate 7%
$3,695,814
$3.7M
Cap Rate 9%
$2,874,522
$2.9M
Market Conditions
NOI Build-Up for 14,846 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
$415.1K $27.96/SF
− Vacancy
−$70.2K −$4.73/SF
EGI
$344.9K $23.23/SF
− OpEx
−$86.2K −$5.81/SF
NOI
$258.7K $17.43/SF
Area
Douglas County, CO
Vacancy
16.90%
Lease Rate
$27.96 /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%
$5,174,140
Cap Rate 7%
$3,695,814
Cap Rate 9%
$2,874,522
Alternative Uses
Best Use
Office B
$3.70M
$3.23M – $4.31M
NOI $258,707 @ 7.0% cap · market cap 6.90%
Second Best
Healthcare Medical
$3.04M
$2.66M – $3.55M
NOI $213,062 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$5.10M
$4.46M – $5.95M
NOI $356,952 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,138
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80120, CO
29,445
Population
14,252
Households
2.1
Avg Household Size
42
Median Age
52%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
3,505
Density / Sq Mi
$91,162
Median Household Income
$52,849
Median Earnings
$1,607
Median Rent
$596,400
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.
Similar Off Market Nearby
- Southwest Veterinary Hospital PC — 250 E Dry Creek Rd #106, Littleton, CO 80122
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Modernized medical office building in Littleton's healthcare corridor.
Where is this medical office space located?
The property is located at 20 W Dry Creek Circle Littleton, CO.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Turnkey 14,846 SF medical office building (MOB) delivered vacant for immediate owner‑user occupancy.; $1.5M in 2022 upgrades; fully modernized.; Located in Littleton’s premier healthcare corridor near C‑470, South Broadway, and Littleton Adventist Hospital.
