Multi-Suite Office
For Sale
$1,044,100
250-2861 W 120th Ave, Westminster, CO 80021
Two finished office suites with private entrances, breakrooms, and conference space within a second-floor condo.
Property Size3,940 SF
Price / SF$265
Days on Market396
Property Features for 250-2861 W 120th Ave
General Information
Standard status
Active
Size
3,940 SF
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$14,514
Amenities
private offices
conference rooms
open workspaces
breakrooms
private outdoor patio
recreation center
Listing Agency:
MB/Park Place Brokers & Realty
Listed By:
Bob Distel · License #1134445
(303) 452-5853
Source:
Exprealty
Added: Aug 7, 2025
Changed: Sep 4
Last Checked: Sep 5 at 12:16PM
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 MB/Park Place Brokers & Realty
Investment Insights
Based on property information with market context.
This spacious office condo features two beautifully finished suites, Units 240 and 250, located on the west-facing second floor. Each suite has its own private entrance and includes a smart layout with private offices, conference rooms, open workspaces, and fully equipped breakrooms with sinks, counters, and refrigerators. Unit 240 is owner occupied and includes a private outdoor patio for breaks or informal meetings, while Unit 250 is leased.
The property is positioned within a vibrant complex that includes professional offices, popular restaurants, and a recreation center. It offers visibility along W 120th Ave with quick access to Federal Blvd and nearby cities including Broomfield, Westminster, Northglenn, and Thornton.
Overall, the offering provides a flexible, move-in-ready configuration for an office user or an investor seeking a two-suite setup within an active mixed-use business environment.
The property is positioned within a vibrant complex that includes professional offices, popular restaurants, and a recreation center. It offers visibility along W 120th Ave with quick access to Federal Blvd and nearby cities including Broomfield, Westminster, Northglenn, and Thornton.
Overall, the offering provides a flexible, move-in-ready configuration for an office user or an investor seeking a two-suite setup within an active mixed-use business environment.
Key Highlights
- 3,940 sq ft office condo on the west‑facing second floor with two finished suites (Units 240 and 250)
- Each suite has a private entrance and includes private offices, conference rooms, open workspaces, and fully equipped breakrooms
- Breakrooms feature sinks, counters, and refrigerators in both suites
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
$57,865
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
5.54%
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%
$1,157,300
$1.2M
Cap Rate 7%
$826,643
$826.6K
Cap Rate 9%
$642,944
$642.9K
Market Conditions
NOI Build-Up for 3,940 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
$102.6K $26.04/SF
− Vacancy
−$25.4K −$6.46/SF
EGI
$77.2K $19.58/SF
− OpEx
−$19.3K −$4.90/SF
NOI
$57.9K $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%
$1,157,300
Cap Rate 7%
$826,643
Cap Rate 9%
$642,944
Alternative Uses
Best Use
Office B
$826.6K
$723.3K – $964.4K
NOI $57,865 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,612 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 80021, CO
36,176
Population
17,353
Households
2.1
Avg Household Size
36
Median Age
53%
College-Educated
98%
High-School Grad
16.5 sq mi
ZIP Area
2,192
Density / Sq Mi
$105,645
Median Household Income
$59,947
Median Earnings
$2,054
Median Rent
$530,300
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 - Two finished office suites with private entrances, breakrooms, and conference space within a second-floor condo.
Where is this office units located?
The property is located at 250-2861 W 120th Ave Westminster, CO.
What is the asking price?
The asking price for this property is $1,044,100.
What are key features of this property?
This property features: 3,940 sq ft office condo on the west‑facing second floor with two finished suites (Units 240 and 250); Each suite has a private entrance and includes private offices, conference rooms, open workspaces, and fully equipped breakrooms; Breakrooms feature sinks, counters, and refrigerators in both suites
