6920 38Th AveWheat Ridge, CO 80033

Property Details for 6920 38Th Ave

Year built

1961

Construction

STEEL FRAME

Lot size

1.16 AC

Property size (Sq ft)

7,484 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

39-261-00-007

APU

3926100007

Description

This exceptional investment opportunity presents a fee-simple interest in a 10,360 square foot medical office building situated on a 1.159-acre lot in Wheat Ridge, Colorado. The property, located at 6920 W 38th Ave, features 7,692 square feet of net rentable space and is currently 100% occupied by Innovative Renal Care under a 15-year Absolute NNN lease with a corporate guarantee. The lease commenced July 3, 2014, and expires July 2, 2029, leaving approximately 4.6 years remaining. Rent increases are built in at 3% annually. The lease includes two 5-year renewal options. Originally constructed in 1961, the single-story building underwent renovations in 2016. Its prime location on West 38th Avenue offers excellent visibility and accessibility to major transportation routes. The property benefits from strong surrounding demographics and a thriving commercial environment in Wheat Ridge, Jefferson County, Colorado (zip code 80033). This investment offers a stable income stream backed by a reputable tenant in the growing healthcare sector, providing both stability and growth potential. The property's strategic location and recent renovations make it an attractive addition to any diversified portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,375,375

  6.5%

  $1,269,577

  7%

  $1,178,893

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,523,036

  Geo Method

  $618,328

• Alternative Use

  Use

  Valuation

  Residential

  $1,574,276

  Hospitality

  $1,442,028

  Educational

  $1,199,750

  Medical

  $1,241,012

  Retail

  $1,866,279

Location Insight

City

Wheat Ridge

County

Jefferson

State

Colorado

Latitude

39.769

Longitude

-105.073

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].