Modernized Medical Office
For Sale
$3,750,000
20 W Dry Creek, Littleton, CO 80120
Vacant medical office property with direct-entry suites and on-site surface parking.
Property Size14,846 SF
Lot Size2.00 Acres
Price / SF$252.59
Days on Market193
Property Features for 20 W Dry Creek
General Information
Standard status
Active
Size
14,846 SF
Total Parking Spaces
60
Lot size
2.00 Acres
Property subtype
Commercial
Additional Details
Asking Price
$3,750,000
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$64,776
Building Details
Year Built
1999
Year Renovated
2022
Buildings
1
Building Size
14,846 SF
Owner Occupied
No
Listing Agency:
CBRE, INC.
Listed By:
COLTON REIMER · License #100090094
(303) 628-1787
Source:
Corcoran
Added: Mar 11
Changed: Sep 18
Last Checked: Sep 18 at 3:23PM
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 14,846-square-foot medical office building was constructed in 1999 and modernized through upgrades completed in 2022. The vacant property includes multiple suites with direct exterior access and is positioned on a two-acre site with 60 surface parking spaces, supporting owner-user occupancy and professional medical operations.
The property is located at 20 W Dry Creek in Littleton, near C-470, South Broadway, and Littleton Adventist Hospital. Its proximity to established healthcare facilities and major local routes provides convenient access for staff, patients, and visitors.
The property is located at 20 W Dry Creek in Littleton, near C-470, South Broadway, and Littleton Adventist Hospital. Its proximity to established healthcare facilities and major local routes provides convenient access for staff, patients, and visitors.
Key Highlights
- 14,846‑square‑foot medical office building on a two‑acre site
- Modernized with upgrades completed in 2022
- Vacant for owner‑user occupancy
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
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,013
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant medical office property with direct-entry suites and on-site surface parking.
Where is this medical office space located?
The property is located at 20 W Dry Creek 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: 14,846‑square‑foot medical office building on a two‑acre site; Modernized with upgrades completed in 2022; Vacant for owner‑user occupancy
