2861 W 120th Ave 250, Westminster, CO 80234

Building Details

Building Size 3,940 SF More

Year Built 2007 More

Listing Agency: MB/Park Place Brokers & Realty

Listed By: Bob Distel · License CO #1134445 Show Phone

Source: Elliman

Added: Mar 11 Changed: Aug 8 Last Checked: Aug 8 at 6:19AM

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Investment Insights

Based on property information with market context.

This 3,940 sq ft office condo features two finished suites, Units 240 & 250, each with a private entrance. The 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 is owner-occupied and includes a private outdoor patio. Unit 250 is leased. The property is situated in a complex with professional offices, restaurants, and a recreation center. The location offers visibility along 120th Ave and provides access to Federal Blvd and nearby cities including Broomfield, Westminster, Northglenn, and Thornton.

Key Highlights

• Two Suites (Units 240 & 250) with Separate Entrances Offering Flexibility
• 3,940 sq ft Office Condo with Smart Layout featuring Private Offices, Conference Rooms, and Open Workspaces
• Fully Equipped Breakrooms in Both Suites

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,865

Cap Rate

5.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,157,300 $1.2M

Cap Rate 7%

$826,643 $826.6K

Cap Rate 9%

$642,944 $642.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,940 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $80,612 @ 7.0% cap · market cap 7.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conrad Charles Johnson Dental Office Elite Tax & Accounting Accounting Firm Radiant Beauty Rx Medical Clinic Abigail Robson Physician Mariah Schultz Physician

Suggested Use

Top Pick Auto Repair Shop Building Supply Auto Parts Store Restaurant Pharmacy Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Properties on Market for Office Units in Westminster

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - 3,940 sq ft office condo with mountain views.

Where is this office unit located?

The property is located at 2861 W 120th Ave 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 Offering Flexibility; 3,940 sq ft Office Condo with Smart Layout featuring Private Offices, Conference Rooms, and Open Workspaces; Fully Equipped Breakrooms in Both Suites