6073 44Th AveWheat Ridge, CO 80033

Property Details for 6073 44Th Ave

Year built

1963

Construction

STEEL FRAME

Lot size

0.92 AC

Property size (Sq ft)

4,889 SF

Property type

Office buildings

APN

39-242-00-016

APU

3924200016

Description

This exceptional investment opportunity presents a two-story, 15,321-square-foot office building situated on a 39,901-square-foot lot in Wheat Ridge, Colorado. The property boasts a diverse tenant mix within thirteen units, offering a current NOI of $91,445 and a 4.57% cap rate. A pro-forma analysis projects a significantly improved NOI of $121,046 and a 6.05% cap rate, showcasing substantial upside potential. Built in 1963, the building features a block/stucco exterior, a flat roof, and ample paved parking for 71 vehicles—a generous 5.5 spaces per unit. The property benefits from a high-visibility location on W 44th Avenue, adjacent to a Walmart, ensuring excellent exposure and accessibility. Recent improvements include new front-facing windows installed in 2023. The C-1 zoning allows for a variety of commercial uses. The asking price is $2,000,000, representing a price per square foot of $130.54 and a price per unit of $153,846.15. This multi-tenant building offers a compelling combination of strong current income and significant future growth potential, making it an attractive addition to any investment portfolio. Water and sewer services are connected to the master system.

• CAP approach

  CAP return

  Valuation

  6%

  $898,478

  6.5%

  $829,364

  7%

  $770,124

• Comparable approach

  Method

  Valuation

  Relative Method

  $994,939

  Geo Method

  $403,929

• Alternative Use

  Use

  Valuation

  Residential

  $1,028,412

  Hospitality

  $942,020

  Educational

  $783,749

  Medical

  $810,704

  Retail

  $1,219,166

Location Insight

City

Wheat Ridge

County

Jefferson

State

Colorado

Latitude

39.7771

Longitude

-105.064

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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