Retail Property on 44th
For Sale
Contact for pricing
5890 W 44th Ave, Wheat Ridge, CO 80212
High-visibility retail property in a high-growth Wheat Ridge area.
Property Size10,320 SF
Price / SF$232.56
Days on Market731
Property Features for 5890 W 44th Ave
General Information
Standard status
Active
Size
10,320 SF
Property subtype
Retail
Zoning
RC
Investment Type
Owner/User
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
Malman Real Estate
(720) 471-1763
Listed By:
Jake Malman · License #100099297
Source:
Crexi
Added: Aug 12, 2024
Changed: Aug 8
Last Checked: May 13 at 8:04PM
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 Malman Real Estate
Investment Insights
Based on property information with market context.
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.
Key Highlights
- High visibility retail property on 44th Avenue.
- Excellent location in the high growth area of Wheat Ridge.
- Owner/User or Investor opportunity.
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
$164,834
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
6.87%
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%
$3,296,680
$3.3M
Cap Rate 7%
$2,354,771
$2.4M
Cap Rate 9%
$1,831,489
$1.8M
Market Conditions
NOI Build-Up for 10,320 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
$248.9K $24.12/SF
− Vacancy
−$13.4K −$1.30/SF
EGI
$235.5K $22.82/SF
− OpEx
−$70.6K −$6.85/SF
NOI
$164.8K $15.97/SF
Area
Jefferson County, CO
Vacancy
5.40%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$3,296,680
Cap Rate 7%
$2,354,771
Cap Rate 9%
$1,831,489
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,449
Businesses Nearby
239k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Shops & Services 36%
Apparel 6%
Dining 6%
Walmart
Superstores
120,480 visits/mo
0.3 miles
dd's DISCOUNTS
Shops & Services
26,865 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,750 visits/mo
0.1 miles
Goodwill
Apparel
15,276 visits/mo
0.3 miles
Petco
Shops & Services
10,601 visits/mo
0.4 miles
Demographics for 80212, CO
20,397
Population
10,870
Households
1.9
Avg Household Size
38
Median Age
64%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
5,666
Density / Sq Mi
$118,692
Median Household Income
$76,379
Median Earnings
$1,714
Median Rent
$705,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
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.
