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    Property profile & analytics

    6690 38Th Ave Wheat Ridge, CO 80033

    • Commercial real estate
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0923381
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 6690 38Th Ave

    Lot size
    0.49 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.49-acre development opportunity in Wheat Ridge, Colorado, is priced at $1,300,000. The property, located at 6690 W 38th Ave (zip code 80033), is zoned MU-N and boasts an approved site development plan for approximately 6,000 square feet of multi-tenant retail/office space. Situated in a thriving neighborhood, this 21,500 square foot lot offers convenient walkability to local amenities including Bardo Coffee, brew pubs, and a grocery store. The area is experiencing significant growth, with over 75 townhomes currently under construction nearby, creating a strong potential tenant base. Currently, the property is leased to an acupuncture business with a 90-day termination clause in place, generating a monthly income of $3,200 (tenant responsible for utilities). The landlord covers property taxes, insurance, landscaping, and snow removal. This infill location presents a unique chance to capitalize on the area's expanding commercial sector and strong residential growth. Jefferson County location provides easy access to major transportation routes. Don't miss this prime development opportunity in a vibrant and growing community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wheat Ridge
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.07072121466
    Latitude
    39.769424956484

    Comparable in this City

    • $4,700,000
      3.09 Acres

      Lakewood Development Land

      Prime 3-acre commercial lot, high visibility.
      26th And Wadsworth, Wheat Ridge, CO 80033
      View Details
    • $2,800,000

      Jefferson County Land For Sale

      Unincorporated Jefferson County raw land with C-1 zoning.
      12700 W Colfax Ave, Lakewood, CO 80033
      View Details
    • $899,999

      Wheat Ridge Commercial Land Available

      Commercial land for sale in Wheat Ridge, Colorado.
      4325 Harlan St, Wheat Ridge, CO 80033
      View Details
    • $550,000

      Wheat Ridge Land Opportunity

      Land available in Wheat Ridge, Colorado.
      4835 Harlan St, Wheat Ridge, CO 80033
      View Details
    • $1,250,000
      52,625 SF

      Wheat Ridge Vacant Land

      Improved vacant land with utilities in Wheat Ridge neighborhood.
      4084 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing

      Wheat Ridge Commercial Land Available

      Commercial land in Wheat Ridge with MU-C zoning.
      12100 W 44Th Ave, Wheat Ridge, CO 80033
      View Details

    Similar Nearby for Sale

    • $4,700,000
      3.09 Acres

      Lakewood Development Land

      Prime 3-acre commercial lot, high visibility.
      26th And Wadsworth, Wheat Ridge, CO 80033
      View Details
    • $2,800,000

      Jefferson County Land For Sale

      Unincorporated Jefferson County raw land with C-1 zoning.
      12700 W Colfax Ave, Lakewood, CO 80033
      View Details
    • $899,999

      Wheat Ridge Commercial Land Available

      Commercial land for sale in Wheat Ridge, Colorado.
      4325 Harlan St, Wheat Ridge, CO 80033
      View Details
    • $550,000

      Wheat Ridge Land Opportunity

      Land available in Wheat Ridge, Colorado.
      4835 Harlan St, Wheat Ridge, CO 80033
      View Details
    • $636,000
      0.73 Acres

      Wheat Ridge Commercial Land Opportunity

      0.73-acre In-Fill Lot, Restricted Commercial Zoning
      7585 32 Ave, Wheat Ridge, CO 80033
      View Details
    • $1,540,000

      Shovel Ready Townhome Development

      Townhome development opportunity in Wheat Ridge, Colorado.
      3915 Upham St, Wheat Ridge, CO 80033
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease

      Land available for lease in Wheat Ridge, Colorado.
      7690 W 38Th Ave, Wheat Ridge, CO 80033
      View Details
    • $4,000 /Mo

      Wheat Ridge Yard Space Available

      0.40 acre yard space for lease near I-70.
      4901 Ward Rd, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing

      Wheat Ridge Land Opportunity

      Land available for lease in Wheat Ridge, Colorado.
      3700 Yukon Ct, Wheat Ridge, CO 80033
      View Details
    • $14 SF/Yr
      15,080 SF

      Wadsworth Blvd Retail Space

      Wheat Ridge retail spaces available.
      4550 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing
      103,438 SF

      Wheat Ridge Marketplace Retail Space

      High-traffic retail space available now.
      3800-3928 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • $12 SF/Yr
      4,468 SF

      Wheat Ridge Office Space for Lease

      Flexible office solutions in Wheat Ridge, CO.
      4251 Kipling St, Wheat Ridge, CO 80033
      View Details
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    6690 38Th Ave
    Wheat Ridge, CO 80033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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