ADA-Compliant Assisted Living
For Sale
$1,100,000
51 Lima, Aurora, CO 80010
Ranch-style property includes a basement, updated windows, fire sprinklers, and commercial kitchen equipment.
Property Size5,088 SF
Days on Market11
Property Features for 51 Lima
General Information
Standard status
Active
Size
5,088 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
Apartment 9-20 Units
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$4,000
Amenities
deck
raised garden beds
Building Details
Building Size
5,088 SF
Year Built
1971
Buildings
1
Units
1
Construction
ranch
Listing Agency:
Priority Properties
(303) 522-8364
Listed By:
Deb Kirschbaum
(303) 522-8364
Source:
Coloradopartners
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 8 at 1:04PM
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 Priority Properties
Investment Insights
Based on property information with market context.
This assisted living property is a ranch-style building with a basement and accommodations that include 11 bedrooms, 1 office, and 4 bathrooms. The main floor is ADA compliant, and fire safety sprinklers are installed. The building was constructed in 1971 and has been well maintained, with fresh paint upstairs and updated windows throughout.
The layout includes an upstairs living room and dining rooms, an office with a window overlooking the front-door activity, and basement bedrooms with egress windows. The large kitchen includes 2 refrigerators and 2 dishwashers, while the basement provides a shelved pantry and large upright freezer. Exterior features include a Trex-like deck, raised garden beds, rear parking for 3 tandem spaces accommodating 6 total cars, and street parking.
The layout includes an upstairs living room and dining rooms, an office with a window overlooking the front-door activity, and basement bedrooms with egress windows. The large kitchen includes 2 refrigerators and 2 dishwashers, while the basement provides a shelved pantry and large upright freezer. Exterior features include a Trex-like deck, raised garden beds, rear parking for 3 tandem spaces accommodating 6 total cars, and street parking.
Key Highlights
- 11 bedrooms, 1 office, and 4 bathrooms
- Main floor is ADA compliant
- Fire safety sprinklers installed
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
$67,915
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
6.17%
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%
$1,358,300
$1.4M
Cap Rate 7%
$970,214
$970.2K
Cap Rate 9%
$754,611
$754.6K
Market Conditions
NOI Build-Up for 5,088 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
$132.5K $26.04/SF
− Vacancy
−$9.0K −$1.77/SF
EGI
$123.5K $24.27/SF
− OpEx
−$55.6K −$10.92/SF
NOI
$67.9K $13.35/SF
Area
Aurora, CO
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,358,300
Cap Rate 7%
$970,214
Cap Rate 9%
$754,611
Alternative Uses
Best Use
Apartment 5plus
$970.2K
$848.9K – $1.13M
NOI $67,915 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,521 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80010, CO
42,303
Population
15,394
Households
2.7
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
8,295
Density / Sq Mi
$60,755
Median Household Income
$36,349
Median Earnings
$1,400
Median Rent
$385,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Ranch-style property includes a basement, updated windows, fire sprinklers, and commercial kitchen equipment.
Where is this assisted living facility located?
The property is located at 51 Lima Aurora, CO.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 11 bedrooms, 1 office, and 4 bathrooms; Main floor is ADA compliant; Fire safety sprinklers installed
