Westminster Office Condo with
For Sale
Contact for pricing
2861 West 120th Avenue, Westminster, CO
Spacious office condo with mountain views and flexible layout.
Property Size3,940 SF
Lot Size0.90 Acres
Price / SF$285
Days on Market367
Property Features for 2861 West 120th Avenue
General Information
Standard status
Active
Size
3,940 SF
Lot size
0.90 Acres
Property subtype
OFFICE
Listing Agency:
MB Park Place Brokers & Realty
(303) 994-0502
Listed By:
Robert Distel · License #100066476
(303) 994-0502
Source:
Moodyscre
Added: Aug 7, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:57AM
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 square foot office condo features two finished suites, identified as Units 240 and 250, each accessible via a private entrance. The suites are designed to support productivity, incorporating private offices, conference rooms, and open workspaces. Each suite also includes a fully equipped breakroom with sinks, counters, and refrigerators. Located on the second floor, the west-facing orientation of the space provides natural light and mountain views. Unit 240, currently owner-occupied, features a private outdoor patio. Unit 250 is leased. The property is situated in a complex that includes professional offices, restaurants, and a recreation center. The location offers visibility along 120th Avenue and provides access to Federal Boulevard and nearby cities including Broomfield, Westminster, Northglenn, and Thornton.
Key Highlights
- Spacious 3,940 sq ft office condo with two finished suites (Units 240 & 250).
- Unit 240 is owner‑occupied and includes a private outdoor patio.
- Unit 250 is leased, providing immediate rental income.
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
5.15%
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 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,612 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
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 - Spacious office condo with mountain views and flexible layout.
Where is this office units located?
The property is located at 2861 West 120th Avenue Westminster, CO.
What is the asking price?
The asking price for this property is $1,122,900.
What are key features of this property?
This property features: Spacious 3,940 sq ft office condo with two finished suites (Units 240 & 250).; Unit 240 is owner‑occupied and includes a **private outdoor patio.**; Unit 250 is leased, providing **immediate rental income.**
