Renovated Restaurant Building with
For Sale
Contact for pricing
7617 W 88th Ave, Westminster, CO 80005
9,314 SF renovated restaurant with rooftop patio potential.
Property Size9,314 SF
Price / SF$319.41
Days on Market1425
Property Features for 7617 W 88th Ave
General Information
Standard status
Active
Size
9,314 SF
Property subtype
Retail
Building Details
Year Built
1984
Year Renovated
2015
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Gannon Roth · License #CO FA.100001331
Source:
Crexi
Added: Sep 30, 2022
Changed: Aug 10
Last Checked: Aug 23 at 2:38AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
The subject property is a 9,314 square foot fully renovated restaurant building. It is located at the intersection of 88th and Wadsworth Boulevard. In 2015, the building was completely renovated with an investment of over $1,000,000. Renovations included new electrical, plumbing, finishes, and restaurant infrastructure. The infrastructure includes dining rooms, a bar, a kitchen, coolers, FF&E, and restrooms. The current owner has initiated plans and construction for a 3,000 square foot rooftop patio. This includes architectural drawings, installed utilities to the roof, and completed foundation and building support for the patio.
Key Highlights
- Fully renovated in 2015 with over $1,000,000 invested in upgrades.
- High‑traffic location at the intersection of 88th & Wadsworth Boulevard.
- Includes all FF&E (furniture, fixtures, and equipment).
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
$136,720
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
4.60%
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%
$2,734,400
$2.7M
Cap Rate 7%
$1,953,143
$2.0M
Cap Rate 9%
$1,519,111
$1.5M
Market Conditions
NOI Build-Up for 9,314 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
$195.6K $21.00/SF
− Vacancy
−$13.3K −$1.43/SF
EGI
$182.3K $19.57/SF
− OpEx
−$45.6K −$4.89/SF
NOI
$136.7K $14.68/SF
Area
Westminster, CO
Vacancy
6.80%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,734,400
Cap Rate 7%
$1,953,143
Cap Rate 9%
$1,519,111
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,720 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,564 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80005, CO
28,742
Population
11,397
Households
2.5
Avg Household Size
43
Median Age
58%
College-Educated
97%
High-School Grad
11.7 sq mi
ZIP Area
2,457
Density / Sq Mi
$136,360
Median Household Income
$67,825
Median Earnings
$2,058
Median Rent
$620,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - 9,314 SF renovated restaurant with rooftop patio potential.
Where is this conventional restaurant located?
The property is located at 7617 W 88th Ave Westminster, CO.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: Fully renovated in 2015 with over $1,000,000 invested in upgrades.; High‑traffic location at the intersection of 88th & Wadsworth Boulevard.; Includes all FF&E (furniture, fixtures, and equipment).
