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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Office buildings
7390 38th Ave Wheat Ridge, CO 80033-4843
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-0982344
Property summary
AI-generated overview
This exceptional 6,054-square-foot storefront retail space in Wheat Ridge, Colorado, presents a unique investment opportunity. Located at 7390 W 38th Ave, this freestanding building boasts a prime location in a high-density area off 38th Avenue. The property, with APN 300024293, underwent a complete renovation in 2022, featuring 3,000 square feet on the main level and an additional 3,000 square feet in a fully insulated basement. Upgrades include all new flooring, furnaces, HVAC systems, lighting, plumbing, and electrical work. A prominent monument sign ensures high visibility from the busy 38th Avenue. The large lot provides ample off-street parking for customers and employees. This single-building property offers a versatile space ideal for a variety of retail uses, benefiting from its convenient location and recent modernization. The Jefferson County address and 80033 zip code offer easy access to major transportation routes and a thriving community. This is a turn-key opportunity for a discerning buyer seeking a well-maintained, high-impact retail space.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
STEEL FRAME
Total area
3,027 SF
Lot
0.37 ac (16,291 SF)
APN
39-261-00-048
UPID
US13-0982344
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.25M
Owner & transaction history
7390 W 38th Avenue LLC · 3 yrs held
7390 W 38th Avenue LLC
since 2022
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+129.7%
Neighborhood: shopping center
$1.4M
+105.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wheat Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wheat Ridge submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,235,000
ML approach
$1,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,565,000
Change: +130% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,395,000
Change: +105% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.27M (Aug 11 2022)
Last sale anchor
$1.27M
Aug 11 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$413 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,927
Tax year 2023
Assessed value
$285,090
Assessed 2023
Previous assessed
$285,090
+0.0% YoY
Effective rate
8.74%
On assessed value
Assessed land
$106,812
Assessed improvement
$178,278
Land market value
$382,839
Improvement market value
$668,991
Total market value
$1,051,830
Applied tax rate
3,228.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
3,027 SF
Lot
0.37 ac (16,291 SF)
APN
39-261-00-048
UPID
US13-0982344
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
7390 W 38th Avenue LLC
Entity
Mailing address
2545 ROBB CT, LAKEWOOD, CO 80215-1269
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2022
$1,270,130
7390 W 38th Avenue LLC
Mjc 309 LLC
Special Warranty Deed
$643,000 · Us Bank NA
Jan 11, 2021
$857,500
Mjc 309 LLC
Victoria Olheiser
Special Warranty Deed
$557,375 · Collegiate Peaks Bank
Nov 12, 2019
$1,195,000
Victoria Olheiser
7390 W 38th Ave Investment LLC
Grant Deed
$726,785 · Inbank
Nov 12, 2019
—
Thomas Daquin
—
Deed
related
$726,785 · Inbank
Oct 15, 2018
—
7390 W 38th Ave Investment LLC
—
Deed
related
$1,100,000 · Solera National Bank
Oct 12, 2018
—
7390 W 38th Investment LLC
Loecher,roger P & Eileen F
Grant Deed
—
Apr 20, 2018
—
Roger P Loecher
—
Grant Deed
related
$3,076,000 · Solera Nat'l Bk
Mar 22, 2018
$455,526
Roger P Loecher
Horseshoe Beach Dev LLC
Warranty Deed
—
Oct 26, 2000
$425,000
Horseshoe Beach Dev LLC
Doig Associates Lpa
Grant Deed
$265,000 · Colorado Business Bank NA
—
—
Thomas Daquin
—
Deed Of Trust
related
$726,785 · Inbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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