Medical Office
For Sale
Contact for pricing
2230 S Fraser St, Aurora, CO 80014
Medical office building for sale featuring a national credit tenant affiliated with United Health.
Property Size3,040 SF
Price / SF$230.26
Days on Market250
Property Features for 2230 S Fraser St
General Information
Standard status
Active
Size
3,040 SF
Property subtype
OFFICE
Listing Agency:
Apex Real Estate Advisors
(720) 440-2156
Listed By:
Jeremiah Maupin · License #ER.040039836
(303) 819-9135
Source:
Moodyscre
Added: Jan 2
Changed: Aug 22
Last Checked: Aug 14 at 7:53AM
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 Apex Real Estate Advisors
Investment Insights
Based on property information with market context.
This medical office building offers a total size of 3,040 square feet and is available for sale. The property is described as having a national credit tenant.
According to the remarks, the tenant is affiliated with United Health (NYSE: UNH), the parent company of New West Physicians and Optum Health. The property is located at 2230 S Fraser St in Aurora, CO 80014.
According to the remarks, the tenant is affiliated with United Health (NYSE: UNH), the parent company of New West Physicians and Optum Health. The property is located at 2230 S Fraser St in Aurora, CO 80014.
Key Highlights
- Medical office building for sale
- National credit tenant affiliated with United Health
- Tenant includes the parent company of New West Physicians and Optum Health
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
$42,857
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
6.12%
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%
$857,140
$857.1K
Cap Rate 7%
$612,243
$612.2K
Cap Rate 9%
$476,189
$476.2K
Market Conditions
NOI Build-Up for 3,040 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
$80.3K $26.40/SF
− Vacancy
−$8.8K −$2.90/SF
EGI
$71.4K $23.50/SF
− OpEx
−$28.6K −$9.40/SF
NOI
$42.9K $14.10/SF
Area
Aurora, CO
Vacancy
11.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$857,140
Cap Rate 7%
$612,243
Cap Rate 9%
$476,189
Alternative Uses
Best Use
Healthcare Medical
$612.2K
$535.7K – $714.3K
NOI $42,857 @ 7.0% cap · market cap 6.12%
Second Best
Office B
$548.8K
$480.2K – $640.2K
NOI $38,413 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$849.5K
$743.3K – $991.0K
NOI $59,462 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80014, CO
41,711
Population
19,903
Households
2.1
Avg Household Size
40
Median Age
44%
College-Educated
93%
High-School Grad
7.2 sq mi
ZIP Area
5,793
Density / Sq Mi
$72,561
Median Household Income
$47,950
Median Earnings
$1,800
Median Rent
$386,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building for sale featuring a national credit tenant affiliated with United Health.
Where is this medical office space located?
The property is located at 2230 S Fraser St Aurora, CO.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Medical office building for sale; National credit tenant affiliated with United Health; Tenant includes the parent company of New West Physicians and Optum Health
