Retail Property on 44th
5890 W 44th Ave, Wheat Ridge, CO 80212
High-visibility retail property in a high-growth Wheat Ridge area.
Type:Retail
Property size:
10,320 SFPrice / SF:
$232/SF- Added:
- Aug 12, 2024
- Days on Market:
- 660
- Last Refresh:
- May 13 at 8:04 pm
Property Features for 5890 W 44th Ave
General Information
- Standard status
- Active
- Size
- 10,320 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1961
Listing agent Jake Malman License #100099297
Listing office Malman Real Estate
Listing date Aug 12, 2024
Source Crexi
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 Malman Real Estate
HighLights
- High visibility retail property on 44th Avenue.
- Excellent location in the high growth area of Wheat Ridge.
- Owner/User or Investor opportunity.
- Investor can lease the vacancy and achieve a 7.9% cap rate.
- New roof and AC unit in 2019.
- Close proximity to I‑70 & Sheridan Blvd.
Overview
This retail property offers an opportunity for either an owner/user or an investor. An investor has the potential to lease the vacant space and achieve a 7.9% cap rate. Alternatively, an owner/user can occupy the vacant space and become the landlord for the existing tenant. The property is located on 44th Avenue, providing high visibility. It benefits from an excellent location within the high-growth area of Wheat Ridge. The property features a new roof and AC unit, both installed in 2019. Its location offers close proximity to I-70 and Sheridan Boulevard. The property has a size of 10320 square feet.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $248.9k | $24.12 |
| − Vacancy | −$13.4k | −$1.30 |
| EGI | $235.5k | $22.82 |
| − OpEx | −$70.6k | −$6.85 |
| NOI | $164.8k | $15.97 |
10,320 SF · lease $24.12/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.75M
NOI $164,834 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.97M
$20.10M – $26.79M
NOI $1,607,601 @ 7.0% cap · market cap 66.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Wheat Ridge
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.0611217
- Latitude
- 39.7762676
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - High-visibility retail property in a high-growth Wheat Ridge area.
Where is this retail space located?
The property is located at 5890 W 44th Ave Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: High visibility retail property on 44th Avenue.; Excellent location in the high growth area of Wheat Ridge.; Owner/User or Investor opportunity.
