Developable Land in Wheat
For Sale
$825,000
Wheat Ridge, CO 80212, Wheat Ridge, CO 80212
Corner lot near Tennyson Street, zoned C-1 for automotive uses.
Property Size2,388 SF
Lot Size0.35 Acres
Price / SF$345.48
Days on Market194
Property Features
General Information
Standard status
Active
Size
2,388 SF
Lot size
0.35 Acres
Property subtype
Car Wash
Building Details
Building Size
2,388 SF
Year Built
1966
Listing Agency:
Unique Properties, Inc
(303) 941-8112
Listed By:
Sam Leger · License #FA100084828
(303) 941-8112
Source:
Tcnworldwide
Added: Jan 27
Changed: Aug 8
Last Checked: Apr 6 at 1:00AM
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.
This .35-acre corner lot of developable land is located in Wheat Ridge, within walking distance of amenities such as Bardo Coffee, multiple brewpubs, and a grocery store. Situated less than a mile from Tennyson Street and 3.5 miles from downtown Denver, the parcel benefits from its proximity to established brands including Bank of America, Advance Auto Parts, and King Soopers. The area is experiencing growth, with developments such as the West 38 apartment complex and over 75 townhomes under construction on W 38th Ave between Sheridan and Wadsworth. The property is zoned C-1, which allows for automotive uses not permitted under MU-N zoning, provided landscape buffer requirements are met. This zoning designation is rare along W 38th, making it a unique opportunity. The site offers an existing curb cut.
Key Highlights
- Discover this .35‑acre corner lot of developable infill land in Wheat Ridge.
- Rare C‑1 zoning allows for automotive uses not permitted under MU‑N zoning.
- Walkable to Bardo Coffee, brewpubs, and grocery stores.
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
$38,142
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
4.62%
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%
$762,840
$762.8K
Cap Rate 7%
$544,886
$544.9K
Cap Rate 9%
$423,800
$423.8K
Market Conditions
NOI Build-Up for 2,388 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
$57.6K $24.12/SF
− Vacancy
−$3.1K −$1.30/SF
EGI
$54.5K $22.82/SF
− OpEx
−$16.3K −$6.85/SF
NOI
$38.1K $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%
$762,840
Cap Rate 7%
$544,886
Cap Rate 9%
$423,800
Alternative Uses
Best Use
Retail
$544.9K
$476.8K – $635.7K
NOI $38,142 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$264.4K
$231.3K – $308.4K
NOI $18,505 @ 7.0% cap · market cap 2.24%
Theoretical Best
Multifamily LT 5
$5.31M
$4.65M – $6.20M
NOI $371,991 @ 7.0% cap · market cap 45.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
121k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 25%
Electronics 2%
Raising Cane's Chicken Fingers
Dining
62,004 visits/mo
0.4 miles
Burger King
Dining
9,577 visits/mo
0.4 miles
Phillips 66
Shops & Services
8,408 visits/mo
0.4 miles
Safeway Gas
Shops & Services
6,430 visits/mo
0.5 miles
Five Guys
Dining
6,421 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Corner lot near Tennyson Street, zoned C-1 for automotive uses.
Where is this commercial land located?
The property is located at Wheat Ridge, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Discover this .35‑acre corner lot of developable infill land in Wheat Ridge.; Rare C‑1 zoning allows for automotive uses not permitted under MU‑N zoning.; Walkable to Bardo Coffee, brewpubs, and grocery stores.
