Redevelopment Opportunity in Wheat
For Sale
Contact for pricing
9500 W 44th Ave, Wheat Ridge, CO 80033
High-visibility site suitable for redevelopment or continued car wash use.
Property Size2,262 SF
Price / SF$437.67
Days on Market1333
Property Features for 9500 W 44th Ave
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Retail
Zoning
C-1
Lease Type
Gross
Building Details
Year Built
1984
Listing Agency:
Transworld Commercial Real Estate
(720) 909-8557
Listed By:
Phil Kubat · License #TX 9013356
Source:
Crexi
Added: Jan 7, 2023
Changed: Aug 28
Last Checked: Aug 29 at 2:31AM
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 Transworld Commercial Real Estate
Investment Insights
Based on property information with market context.
This property offers a redevelopment opportunity within a dense commercial corridor. Currently operating as a fully functional self-service car wash, the site is suitable for investors or developers looking to reposition the property for a variety of commercial uses. The property has flexible zoning that allows for multiple commercial use types, including auto repair or service, auto parts retail, banks or financial services, pharmacies or drug stores, sit-down or drive-thru restaurants (with a special use permit), medical or dental offices, liquor stores, florists, jewelry stores, vet clinics, or breweries. The location benefits from strong population density, favorable demographics, excellent daily traffic counts, and high visibility from main thoroughfares. Existing infrastructure includes 4 self-service car wash bays, 1 oversized RV or truck bay, 6 Super-Vac cabin vacuums, and interior cleaner vending and bill changers. The property contains 2262 square feet. The property is located in Wheat Ridge, Colorado.
Key Highlights
- High‑visibility location in a dense commercial corridor with excellent daily traffic counts.
- Flexible zoning allows for multiple high‑demand commercial uses.
- Redevelopment opportunity with potential for higher and better use.
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
$43,790
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
4.42%
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%
$875,800
$875.8K
Cap Rate 7%
$625,571
$625.6K
Cap Rate 9%
$486,556
$486.6K
Market Conditions
NOI Build-Up for 2,262 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
$61.1K $27.00/SF
− Vacancy
−$2.7K −$1.19/SF
EGI
$58.4K $25.81/SF
− OpEx
−$14.6K −$6.45/SF
NOI
$43.8K $19.36/SF
Area
Jefferson County, CO
Vacancy
4.40%
Lease Rate
$27.00 /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%
$875,800
Cap Rate 7%
$625,571
Cap Rate 9%
$486,556
Alternative Uses
Best Use
Specialty Retail
$625.6K
$547.4K – $729.8K
NOI $43,790 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$516.1K
$451.6K – $602.2K
NOI $36,129 @ 7.0% cap · market cap 3.65%
Theoretical Best
Multifamily LT 5
$5.03M
$4.40M – $5.87M
NOI $352,364 @ 7.0% cap · market cap 35.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,253
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 42%
Hotels & Casinos 4%
Shell
Shops & Services
8,221 visits/mo
0.4 miles
Winchell's Donut House
Dining
6,525 visits/mo
0.4 miles
Dairy Queen
Dining
4,501 visits/mo
0.2 miles
Sinclair
Shops & Services
1,640 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
1,263 visits/mo
0.4 miles
Demographics for 80033, CO
26,618
Population
13,257
Households
2
Avg Household Size
42
Median Age
44%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
3,207
Density / Sq Mi
$84,719
Median Household Income
$53,503
Median Earnings
$1,536
Median Rent
$568,900
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?
Self service car wash - High-visibility site suitable for redevelopment or continued car wash use.
Where is this self service car wash located?
The property is located at 9500 W 44th Ave Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: High‑visibility location in a dense commercial corridor with excellent daily traffic counts.; Flexible zoning allows for multiple high‑demand commercial uses.; Redevelopment opportunity with potential for higher and better use.
