Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wheat Ridge Suburban Office Condo Title is generated by Realmo AI

    7867 West 38th Avenue, Wheat Ridge, CO 80033

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $450,000

    Pristine 2,122 SF office condo with multiple offices and entrances.

    Type:Office
    Property size:
    2,122 SF
    Price / SF:
    $212/SF
    Added:
    Nov 21, 2025
    Days on Market:
    182
    Last Refresh:
    Apr 5 at 11:40 pm

    Property Features for 7867 West 38th Avenue

    General Information

    Standard status
    Active
    Size
    2,122 SF
    Property subtype
    Office

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Joe Owston

    Listing agent Joe Owston

    Listing office

    Listing date Nov 21, 2025

    Source Pinnaclerea

    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 Joe Owston

    HighLights

    • Prime location in Wheat Ridge, CO with convenient access to amenities.
    • Spacious 2,122 SF office condo.
    • Features three large offices and a large conference room.
    • Well‑appointed kitchen.
    • Two separate entrances.
    • Pristine suburban office condo.

    Overview

    This suburban office condo in Wheat Ridge, Colorado, offers a versatile space with three large offices, a spacious conference room, and a well-appointed kitchen. Constructed in 1981, the 2,122 square foot property features the added convenience of two separate entrances. The surrounding community provides a blend of modern amenities and historic charm, appealing to businesses and residents alike. The location offers convenient access to diverse dining options, boutique shops, and recreational areas.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $317.7K
    NOI $28,596 @ 9.00% cap · cautious / downside scenario
    Moderate
    $408.5K
    NOI $28,596 @ 7.00% cap · market / base-case scenario
    Aggressive
    $571.9K
    NOI $28,596 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $43.0k $20.28
    − Vacancy −$4.9k −$2.31
    EGI $38.1k $17.97
    − OpEx −$9.5k −$4.49
    NOI $28.6k $13.48
    2,122 SF · lease $20.28/SF/yr · vacancy 11.40% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $408.5K
    $357.5K – $476.6K (±1% cap)
    NOI $28,596 @ 7.0% cap · market cap 6.35%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $4.72M
    $4.13M – $5.51M (±1% cap)
    NOI $330,555 @ 7.0% cap · market cap 73.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheat Ridge
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.085
    Latitude
    39.7708

    Nearby Similar for Sale

    • $637,000
      2,268 SF

      Wheat Ridge Commercial Live/Work Property

      Centrally located commercial property with live/work potential on large lot.
      7114 W 44th Ave, Wheat Ridge, CO 80033
      View Details
    • $637,000
      2,268 SF

      Wheat Ridge Commercial Live-Work Property

      Centrally located commercial property with offices, storage, and workshop.
      7114 W 44th Avenue, Wheat Ridge, CO 80033
      View Details
    • $1,475,000
      7,943 SF

      Wadsworth Blvd Office Building For Sale

      7,943 SF building suitable for owner-users and investors.
      3280 WADSWORTH BLVD, WHEAT RIDGE, CO 80033
      View Details
    • $115,000
      1,128 SF

      Remodeled Office Suite For Sale

      Office suite near Exempla Lutheran Medical Center, remodeled in 2018.
      4045 Wadsworth Blvd #306, Wheat Ridge, CO 80033
      View Details
    • $1,495,000
      4,800 SF

      Wheat Ridge Townhome-Style Units

      Six townhome-style units with renovation upside in prime location.
      4510 Everett Ct, Wheat Ridge, CO 80033
      View Details
    • $4,800,000
      38,114 SF

      Wheat Ridge Office/Warehouse Opportunity

      38,114 SF office, light industrial and warehouse facility for sale.
      4725 Independence Street, Wheat Ridge, CO 80033
      View Details
    • $959,000

      Investment Property Near 38th Avenue

      Multifamily property near amenities and transportation.
      3728 Vance St, Wheat Ridge, CO 80033
      View Details
    • $1,820,000

      Wheat Ridge Multifamily Investment Opportunity

      Well-maintained apartment building in prime Wheat Ridge location.
      5755 W 37th Ave, Wheat Ridge, CO 80212
      View Details
    • $1,225,000
      7,943 SF

      Wheat Ridge Office Property

      Office building with long-term medical tenant and updated features.
      3280 Wadsworth Boulevard, Wheat Ridge, CO 80033
      View Details
    • $1,595,000
      3,000 SF

      Retail/Automotive Space on W. 44th

      Retail/automotive space with high visibility and traffic exposure.
      9695 W 44th Ave, Wheat Ridge, CO
      View Details
    • $1,850,000

      Renovated Multifamily Property Near Discovery Park

      Renovated multifamily property with upside potential in Wheat Ridge, Colorado.
      10717 W 38th Ave, Wheat Ridge, CO 80033
      View Details
    • $2,200,000
      9,069 SF

      Industrial Property Near Light Rail

      Industrial property with office, house, and development potential.
      5000 Tabor Street, Wheat Ridge, CO 80033
      View Details

    FAQs

    What type of property is this?
    Office units - Pristine 2,122 SF office condo with multiple offices and entrances.
    Where is this office units located?
    The property is located at 7867 West 38th Avenue Wheat Ridge, CO.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Prime location in Wheat Ridge, CO with convenient access to amenities.; Spacious 2,122 SF office condo.; Features three large offices and a large conference room.
    (303) 396-2663
    We can help!
    Listing Contact
    Joe Owston
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7867 West 38th Avenue, Wheat Ridge, CO 80033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!