Second-Floor Office Condo
For Sale
Contact for pricing
2861 West 120th Avenue, Westminster, CO 80234
A 3,940-sq-ft office condo with two finished suites, private entrances, and dedicated breakrooms.
Property Size3,940 SF
Price / SF$285
Days on Market367
Property Features for 2861 West 120th Avenue
General Information
Standard status
Active
Size
3,940 SF
Property subtype
OFFICE
Additional Details
Office Units
2
Amenities
private offices
conference rooms
open workspaces
breakrooms
private outdoor patio
recreation center
restaurants
Listing Agency:
MB Park Place Brokers & Realty
(303) 994-0502
Listed By:
Robert Distel
(303) 994-0502
Source:
Moodyscre
Added: Aug 7, 2025
Changed: Jul 26
Last Checked: Aug 8 at 4:51AM
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 3,940-sq-ft office condo includes two finished suites, Units 240 and 250, each with its own private entrance. The layout in both suites features 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, while Unit 250 is leased.
Located on the west-facing second floor, the suites are filled with natural light and offer mountain views. The property sits within a vibrant complex that includes professional offices, popular restaurants, and a recreation center, with visibility along 120th Ave and quick access to Federal Blvd.
For configuration, the space provides a mix of private and collaborative areas supported by in-suite breakroom amenities across both suites, supporting continued business operations in a turnkey office environment.
Located on the west-facing second floor, the suites are filled with natural light and offer mountain views. The property sits within a vibrant complex that includes professional offices, popular restaurants, and a recreation center, with visibility along 120th Ave and quick access to Federal Blvd.
For configuration, the space provides a mix of private and collaborative areas supported by in-suite breakroom amenities across both suites, supporting continued business operations in a turnkey office environment.
Key Highlights
- 3,940 sq ft office condo with two finished suites (Units 240 & 250)
- Each suite has a private entrance and includes private offices, conference rooms, open workspaces, and fully equipped breakrooms (sinks, counters, refrigerators)
- Unit 240 is owner occupied and includes a private outdoor patio
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
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
314
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 - A 3,940-sq-ft office condo with two finished suites, private entrances, and dedicated breakrooms.
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: 3,940 sq ft office condo with two finished suites (Units 240 & 250); Each suite has a private entrance and includes private offices, conference rooms, open workspaces, and fully equipped breakrooms (sinks, counters, refrigerators); Unit 240 is owner occupied and includes a private outdoor patio
