Wheat Ridge Commercial Redevelopment
For Sale
Contact for pricing
6175 W 38th Ave, Wheat Ridge, CO 80033
2,920 SF building in vibrant Wheat Ridge location.
Property Size2,920 SF
Price / SF$325.34
Days on Market697
Property Features for 6175 W 38th Ave
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Office, Retail
Zoning
MU-N
Building Details
Year Built
1928
Stories
1
Units
1
Listing Agency:
Keller Williams Advantage Realty, LLC
Listed By:
Ryan Devin · License #048479
(303) 986-4300
Source:
Crexi
Added: Oct 8, 2024
Changed: Aug 8
Last Checked: Sep 4 at 2:25PM
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 Keller Williams Advantage Realty, LLC
Investment Insights
Based on property information with market context.
Located in Wheat Ridge, Colorado, this 2,920 square foot building is situated on the 38th Avenue corridor. Currently operating as a children's care center, the freestanding building features multiple rooms on the ground floor, along with a partially finished basement area that functions as an office. The property includes parking at the front and rear. A fenced playground area is located at the rear of the property. The property's current MU-N (mixed use neighborhood) zoning offers a range of possibilities for future owners who may choose to redevelop the site. The MU-N zoning permits a combination of residential and commercial uses. The location is near hotspots along 38th Avenue.
Key Highlights
- Prime location on 38th Avenue in Wheat Ridge with high visibility and easy accessibility.
- MU‑N (mixed use neighborhood) zoning allows for a wide range of redevelopment possibilities, including mixed‑use projects.
- Abundant parking in both front and rear of the property.
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
$46,639
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
4.91%
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%
$932,780
$932.8K
Cap Rate 7%
$666,271
$666.3K
Cap Rate 9%
$518,211
$518.2K
Market Conditions
NOI Build-Up for 2,920 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
$70.4K $24.12/SF
− Vacancy
−$3.8K −$1.30/SF
EGI
$66.6K $22.82/SF
− OpEx
−$20.0K −$6.85/SF
NOI
$46.6K $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%
$932,780
Cap Rate 7%
$666,271
Cap Rate 9%
$518,211
Alternative Uses
Best Use
Retail
$666.3K
$583.0K – $777.3K
NOI $46,639 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.50M
$5.69M – $7.58M
NOI $454,864 @ 7.0% cap · market cap 47.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
46k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Dollar Tree
Shops & Services
18,750 visits/mo
0.5 miles
Wells Fargo
Shops & Services
8,632 visits/mo
0.5 miles
7-Eleven
Shops & Services
8,269 visits/mo
0.2 miles
Dairy Queen
Dining
4,841 visits/mo
0.3 miles
EZPAWN
Shops & Services
2,859 visits/mo
0.5 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?
Retail space - 2,920 SF building in vibrant Wheat Ridge location.
Where is this retail space located?
The property is located at 6175 W 38th Ave Wheat Ridge, 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: Prime location on 38th Avenue in Wheat Ridge with high visibility and easy accessibility.; MU‑N (mixed use neighborhood) zoning allows for a wide range of redevelopment possibilities, including mixed‑use projects.; Abundant parking in both front and rear of the property.
