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    8850 W 38Th Ave Wheat Ridge, CO 80033
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    Property profile & analytics

    8850 W 38Th Ave, Wheat Ridge, CO 80033

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    • Office buildings
    • 2,385 SF
    • 0.37 lot acres
    For Lease
    $520,000
    View Listing →
    Office Space Near Medical Center For Lease
    $520,000

    Office Space Near Medical Center

    Office suite for lease near Lutheran Medical Center.

    8850 W 38th Ave, Wheat Ridge, CO 80033
    View Listing
    Property ID
    US13-0878232
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 8850 W 38Th Ave

    Year built
    1981
    Construction
    STEEL FRAME
    Lot size
    0.37 lot acres
    Property type
    Office buildings
    APN
    39-271-03-001
    APU
    3927103001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 7, 2020 — Timothy J Wachuta Max Bucky Charhe LLC Warranty Deed $375k · Key Bank NA
    Aug 2, 2013 $635,000 Max Bucky Charlie LLC Peregrine Center Props LLC Warranty Deed $540k · Bank Of America
    May 4, 2007 $450,000 Peregrine Center Props LLC Owner,record Warranty Deed · related —
    Sep 22, 2003 $385,000 Michael S Freimuth Denning,franklin D & Lisa M Grant Deed $289k · Wells Fargo Bank West NA
    — — Peregrine Center Props LLC — Deed Of Trust · related $206k · Front Range Regular Economic
    — — Peregrine Center Props LLC — Deed Of Trust · related $248k · Colorado Business Bank NA

    Description

    This exceptional Wheat Ridge office property presents a fantastic leasing opportunity. Situated between Wadsworth and Kipling on West 38th Avenue, this conveniently located building offers immediate proximity to Lutheran Medical Center. The property encompasses a total of 4,850 square feet, housed within a single, two-story Class B building constructed in 1981 and extensively renovated in 2023. Currently, a single, contiguous suite of 2,524 square feet is available for lease, representing a significant portion of the building's total space. The building is comprised of three suites in total, making it an ideal setting for a variety of businesses. Ample parking is provided with 26 off-street spaces. The property sits on a 0.35-acre lot (15,967 square feet) and offers excellent visibility and signage opportunities along West 38th Avenue. The building does not include elevators. This is a rare opportunity to secure a well-maintained, updated office space in a highly desirable location with convenient access to major thoroughfares and essential services. The blend of traditional and creative office space makes it suitable for a diverse range of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $570,000
      6.5%
      $525,000
      7%
      $490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $573,000
      Market price range: $225k - $816k
      AI Estimate
      $455,000
      Market price range: $144k - $651k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $535,000
      Current use
      MEDICAL BUILDING
      $565,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $545,000
      Change: +2% Conversion: Moderate
      WAREHOUSE, STORAGE
      $505,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wheat Ridge
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.096
    Latitude
    39.7691
    CBSA code
    19740
    CBSA name
    DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,131
    $104,688
    $43,796
    $148,484
    -
    $375,225
    $186,975
    $562,200

    Comparable in this City

    • Value Estimation
      $1,700,000
      16,523 SF

      3805 Marshall St

      OFFICE BUILDING
      3805 Marshall St, Wheat Ridge, CO 80033-5069
      View Details
    • Value Estimation
      $605,000
      2,116 SF

      4660 Wadsworth Blvd

      OFFICE BUILDING
      4660 Wadsworth Blvd, Wheat Ridge, CO 80033-3306
      View Details
    • Value Estimation by Request
      2,154 SF

      4575 Wadsworth Blvd

      OFFICE BUILDING
      4575 Wadsworth Blvd, Wheat Ridge, CO 80033-3303
      View Details
    • Value Estimation by Request
      1,113 SF

      5059 Ward Rd

      OFFICE BUILDING
      5059 Ward Rd, Wheat Ridge, CO 80033-1904
      View Details
    • Value Estimation by Request
      920 SF

      4415 Yarrow St

      OFFICE BUILDING
      4415 Yarrow St, Wheat Ridge, CO 80033-3251
      View Details
    • Value Estimation by Request
      690 SF

      9605 49th Ave

      OFFICE BUILDING
      9605 49th Ave, Wheat Ridge, CO 80033-1720
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,615 SF

      Wheat Ridge Office Investment Opportunity

      NNN leased office building with future development potential.
      4325 Harlan St, Wheat Ridge, CO 80033
      View Details
    • $1,225,000

      Wheat Ridge Office Property

      Office building with long-term medical tenant and updated features.
      3280 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing
      Pending

      Industrial Property Near Light Rail

      Industrial property with office, house, and development potential.
      5000 Tabor St, Wheat Ridge, CO 80033
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    • $1,475,000

      Wadsworth Blvd Office Building For Sale

      7,943 SF building suitable for owner-users and investors.
      3280 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • $6,100,000

      Renovated Office Building For Sale

      One-level office building renovated in 2000, single tenant occupancy.
      4243 Harlan St, Wheat Ridge, CO 80033
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr

      Two-Story Office Building For Lease

      Refreshed office building with multiple suites and ample parking.
      3798 Marshall St, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing
      1,529 SF

      Medical Office Space Available

      Conveniently located medical office space with abundant parking.
      8805 W 14Th Ave, Lakewood, CO 80033
      View Details
    • Contact for pricing
      2,335 SF

      Wheat Ridge Office Sublease Available

      2,335 SF office space available for sublease in Wheat Ridge.
      4251 Kipling St, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing

      Retail Space in Wheat Ridge

      Retail space for lease in Wheat Ridge Marketplace.
      3800-3928 Wadsworth Blvd, Wheat Ridge, CO 80033
      View Details
    • $22 SF/Yr
      2,117 SF

      Medical Office Space Near Kaiser

      Medical office space with updated finishes and ample parking.
      4855 Ward Rd, Wheat Ridge, CO 80033
      View Details
    • Contact for pricing
      3,052 SF

      Medical Office Space Available

      Medical office space with treatment rooms and easy highway access.
      7805 W 38Th Ave, Wheat Ridge, CO 80033
      View Details
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    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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