Spacious Office Condo with Mountain
For Sale
$1,044,100
2861 W 120th #250, Westminster, CO 80234
3,940 sq ft office condo with two finished suites.
Property Size3,940 SF
Lot Size0.58 Acres
Price / SF$265
Days on Market365
Property Features for 2861 W 120th #250
General Information
Standard status
Active
Size
3,940 SF
Lot size
0.58 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,514
Amenities
Central air
Central Air Cooling
City Limits
Flat Roof
Forced Air Heating
Public Elevator
Building Details
Year Built
2007
Listing Agency:
MB/Park Place Brokers & Realty
(303) 452-5853
Listed By:
BOB DISTEL · License #1134445
Source:
Corcoran
Added: Aug 9, 2025
Changed: Aug 8
Last Checked: Apr 5 at 11:46PM
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 3,940 sq ft office condo features two finished suites, Units 240 and 250, each with a private entrance. Both suites are designed with private offices, conference rooms, open workspaces, and fully equipped breakrooms that include sinks, counters, and refrigerators. Located on the second floor, the west-facing space benefits from natural light and mountain views. Unit 240, currently owner-occupied, includes a private outdoor patio. Unit 250 is leased. The property is situated in a complex with professional offices, restaurants, and a recreation center, offering visibility along 120th Ave and access to Federal Blvd and nearby cities including Broomfield, Westminster, Northglenn, and Thornton.
Key Highlights
- Two suites (Units 240 & 250) with separate entrances offer flexibility for owner occupancy and rental income.
- 3,940 sq ft office condo with a functional layout including private offices, conference rooms, open workspaces, and fully equipped breakrooms.**
- High visibility location on 120th Ave with quick access to Federal Blvd and surrounding cities.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Office units - 3,940 sq ft office condo with two finished suites.
Where is this office units located?
The property is located at 2861 W 120th #250 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: Two suites (Units 240 & 250) with separate entrances offer flexibility for owner occupancy and rental income.; 3,940 sq ft office condo with a functional layout including private offices, conference rooms, open workspaces, and fully equipped breakrooms.**; High visibility location on 120th Ave with quick access to Federal Blvd and surrounding cities.
