8850 38Th AveWheat Ridge, CO 80033

Property Details for 8850 38Th Ave

Year built

1981

Construction

STEEL FRAME

Lot size

0.37 AC

Property size (Sq ft)

2,385 SF

Property type

Office properties

Property subtype

Office buildings

APN

39-271-03-001

APU

3927103001

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.

• CAP approach

  CAP return

  Valuation

  6%

  $438,304

  6.5%

  $404,589

  7%

  $375,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $485,361

  Geo Method

  $197,049

• Alternative Use

  Use

  Valuation

  Residential

  $501,690

  Hospitality

  $459,545

  Educational

  $382,336

  Medical

  $395,485

  Retail

  $594,745

Location Insight

City

Wheat Ridge

County

Jefferson

State

Colorado

Latitude

39.7691

Longitude

-105.096

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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