Luxury Apartments in Historic
1140 Cannon Street, Louisville, CO 80027
Boutique apartment building near Downtown Louisville and Boulder.
Type:Multifamily
Property size:
130,000 SFPrice / SF:
$323/SF- Added:
- Nov 21, 2025
- Days on Market:
- 184
- Last Refresh:
- Apr 5 at 11:41 pm
Property Features for 1140 Cannon Street
General Information
- Standard status
- Active
- Size
- 130,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2017
Listing agent Mike Krebsbach (303) 407-9782
Listing office (303) 407-9782
Listing date Nov 21, 2025
Source Pinnaclerea
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Mike Krebsbach
HighLights
- Boutique luxury community in Historic Downtown Louisville, just 10 minutes from Boulder.
- Attractive assumable loan through Freddie Mac, originated by Wells Fargo.
- Deal of scale with 130 units and 130,000 SF in a supply‑restrained market.
- Less than 10‑year‑old construction, built in 2017.
- Mid to large unit sizes and a healthy unit mix.
- Comparatively low basis for the Boulder County submarket.
Overview
This property features a 130,000 square foot building constructed in 2017, containing 130 units. The property offers a mix of mid to large unit sizes and various additional income opportunities, providing a foundation for stable returns. Positioned as a boutique luxury community, it is located within Historic Downtown Louisville, and 10 minutes from Boulder. The location offers a blend of small-town comfort and adventurous appeal. The property is located steps from Downtown Louisville and across from designated Open Space.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$25.15M
NOI $2,263,061 @ 9.00% cap · cautious / downside scenario
Moderate
$32.33M
NOI $2,263,061 @ 7.00% cap · market / base-case scenario
Aggressive
$45.26M
NOI $2,263,061 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $4.37M | $33.60 |
| − Vacancy | −$253.3k | −$1.95 |
| EGI | $4.11M | $31.65 |
| − OpEx | −$1.85M | −$14.24 |
| NOI | $2.26M | $17.41 |
130,000 SF · lease $33.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$32.33M
$28.29M – $37.72M
NOI $2,263,061 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$39.22M
$34.32M – $45.76M
NOI $2,745,600 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Boulder
- State
- Colorado
- Longitude
- -105.171
- Latitude
- 39.9475
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Boutique apartment building near Downtown Louisville and Boulder.
Where is this apartment building located?
The property is located at 1140 Cannon Street Louisville, CO.
What is the asking price?
The asking price for this property is $42,000,000.
What are key features of this property?
This property features: Boutique luxury community in Historic Downtown Louisville, just 10 minutes from Boulder.; Attractive assumable loan through Freddie Mac, originated by Wells Fargo.; Deal of scale with 130 units and 130,000 SF in a supply‑restrained market.
