Three-Unit Residential
New
For Sale
$950,000
8820 Circle Drive, Westminster, CO 80031
Separate fenced outdoor space accompanies each of the property's three units.
Property Size3,694 SF
Price / SF$257.17
Days on Market6
Property Features for 8820 Circle Drive
General Information
Standard status
Active
Size
3,694 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
5.7%
Multifamily Units
3
Amenities
private fenced yards
deck
automatic sprinkler system
central air conditioning
storage sheds
Building Details
Year Built
1971
Listing Agency:
Ed Prather Real Estate
Listed By:
Greg Smith
(303) 543-5720
Source:
Coloradohomesource
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 7:07PM
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 Ed Prather Real Estate
Investment Insights
Based on property information with market context.
This 3,694-square-foot residential property in Westminster is configured as a triplex, with separate fenced yards serving the units. The building dates to 1971 and includes a deck, storage sheds, laundry facilities, and central air conditioning among the features described across the property.
The property is located at 8820 Circle Drive, with additional unit addresses at 8830 and 8840 Circle Drive. A 5.7% cap rate is reported, and tenants are in place.
The property is located at 8820 Circle Drive, with additional unit addresses at 8830 and 8840 Circle Drive. A 5.7% cap rate is reported, and tenants are in place.
Key Highlights
- Triplex with 3,694 square feet
- Three separate fenced yards
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,673
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,460
$1.1M
Cap Rate 7%
$766,757
$766.8K
Cap Rate 9%
$596,367
$596.4K
Market Conditions
NOI Build-Up for 3,694 SF
Gross rent
$82.0K $22.20/SF
− Vacancy
−$5.3K −$1.44/SF
EGI
$76.7K $20.76/SF
− OpEx
−$23.0K −$6.23/SF
NOI
$53.7K $14.53/SF
Area
Westminster, CO
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,460
Cap Rate 7%
$766,757
Cap Rate 9%
$596,367
Alternative Uses
Best Use
Multifamily LT 5
$766.8K
$670.9K – $894.6K
NOI $53,673 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$678.4K
$593.6K – $791.5K
NOI $47,490 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$1.08M
$944.7K – $1.26M
NOI $75,579 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
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Business Placement
Demographics for 80031, CO
37,254
Population
15,377
Households
2.4
Avg Household Size
39
Median Age
44%
College-Educated
89%
High-School Grad
8.4 sq mi
ZIP Area
4,435
Density / Sq Mi
$106,244
Median Household Income
$56,470
Median Earnings
$1,911
Median Rent
$499,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Separate fenced outdoor space accompanies each of the property's three units.
Where is this triplex located?
The property is located at 8820 Circle Drive Westminster, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Triplex with 3,694 square feet; Three separate fenced yards; Built in 1971
