Medical Office Condominium
For Sale
Contact for pricing
2761 W 120th Ave Suite J120, Westminster, CO 80234
Suite J120 includes reception, multiple treatment rooms/offices, a large open multi-use area, and a kitchenette with dedicated storage.
Property Size1,562 SF
Price / SF$336.04
Days on Market98
Property Features for 2761 W 120th Ave Suite J120
General Information
Standard status
Active
Size
1,562 SF
Class
B
Property subtype
Office
Building Details
Year Built
2006
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Keller Williams Preferred Realty Westminster
Listed By:
Eric Fritzke · License #CO FA.040009645
(303) 469-8821
Source:
Crexi
Added: Jun 2
Changed: Aug 22
Last Checked: Sep 7 at 3:17AM
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 Keller Williams Preferred Realty Westminster
Investment Insights
Based on property information with market context.
This Class B professional office condominium suite within the Country Club Village Office Condominium Association offers a highly functional layout with abundant natural light. The suite is designed with an inviting reception and waiting area, along with three treatment rooms sized 10’ x 9’. Additional treatment rooms or offices are also included, sized 14’ x 10’, 12’ x 10’, 11’ x 8’, and 12’ x 8’. A large open multi-use space supports needs such as training, collaboration, or additional workstations. The suite also includes a kitchenette and dedicated storage.
The property is positioned in a proven multi-tenant environment serving both professional and medical users, with convenient access to retail, dining, and major transportation corridors.
The property is positioned in a proven multi-tenant environment serving both professional and medical users, with convenient access to retail, dining, and major transportation corridors.
Key Highlights
- Year built 2006: Class B professional office condominium in a multi‑tenant Country Club Village Office Condominium Association
- Suite J120 includes a reception and waiting area plus a kitchenette with dedicated storage
- 3 treatment rooms sized 10’ x 9’ for offices or private treatment use
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
$22,940
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
4.37%
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%
$458,800
$458.8K
Cap Rate 7%
$327,714
$327.7K
Cap Rate 9%
$254,889
$254.9K
Market Conditions
NOI Build-Up for 1,562 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
$40.7K $26.04/SF
− Vacancy
−$10.1K −$6.46/SF
EGI
$30.6K $19.58/SF
− OpEx
−$7.6K −$4.90/SF
NOI
$22.9K $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%
$458,800
Cap Rate 7%
$327,714
Cap Rate 9%
$254,889
Alternative Uses
Best Use
Office B
$327.7K
$286.8K – $382.3K
NOI $22,940 @ 7.0% cap · market cap 4.37%
Second Best
Healthcare Medical
$323.5K
$283.1K – $377.5K
NOI $22,647 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$456.6K
$399.5K – $532.7K
NOI $31,959 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80234, CO
29,660
Population
12,814
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,237
Density / Sq Mi
$88,714
Median Household Income
$50,926
Median Earnings
$1,772
Median Rent
$493,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Paws and Claws Veterinary Clinic — 2721 W 120th Ave, Westminster, CO 80234
- Broomfield Veterinary Hospital — 12621 Lowell Blvd, Broomfield, CO 80020
Frequently Asked Questions
What type of property is this?
Medical Office Space - Suite J120 includes reception, multiple treatment rooms/offices, a large open multi-use area, and a kitchenette with dedicated storage.
Where is this medical office space located?
The property is located at 2761 W 120th Ave Suite J120 Westminster, CO.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Year built 2006: Class B professional office condominium in a multi‑tenant Country Club Village Office Condominium Association; Suite J120 includes a reception and waiting area plus a kitchenette with dedicated storage; 3 treatment rooms sized 10’ x 9’ for offices or private treatment use
