Centennial Office Building Near
For Sale
$6,210,000
9137 E Mineral Cir, Centennial, CO 80112
31,332 SF office building with easy access to Denver.
Property Size31,332 SF
Price / SF$198.20
Days on Market335
Property Features for 9137 E Mineral Cir
General Information
Standard status
Active
Size
31,332 SF
Class
B
Property subtype
Office
Building Details
Building Size
31,332 SF
Year Built
1982
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Marc S. Lippitt · License #ER.000183921
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Aug 25
Last Checked: Aug 25 at 6:28AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
Panorama Place is a 31,332 square foot office building situated on just under an acre and a half at 9137 E. Mineral Circle in Centennial, Colorado, within the Denver MSA. Located in the Southeast Denver Office market, the property offers access to the metro area. It is located just south of Denver and provides quick access to Interstate 25, which is approximately a half mile away, facilitating access to the surrounding metro area. Downtown Denver is approximately a 20-minute drive from the property. Major employers nearby include OppenheimerFunds, Comcast, United Launch Alliance, US Foods, and Jones International University. RTD’s Dry Creek Station is also approximately a half mile from the property, offering access to public transportation. Downtown Denver is approximately 35 minutes away by Light Rail.
Key Highlights
- Excellent Location: Quick access to Interstate 25 (0.5 miles) and the Denver Metro Area.
- Convenient Transportation: Close proximity (0.5 miles) to RTD's Dry Creek Station, providing easy access to public transportation.
- Accessibility to Downtown Denver: Approximately a 20‑minute drive and 35 minutes by Light Rail to Downtown Denver.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$395,911
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,918,220
$7.9M
Cap Rate 7%
$5,655,871
$5.7M
Cap Rate 9%
$4,399,011
$4.4M
Market Conditions
NOI Build-Up for 31,332 SF
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.
Gross rent
$676.8K $21.60/SF
− Vacancy
−$148.9K −$4.75/SF
EGI
$527.9K $16.85/SF
− OpEx
−$132.0K −$4.21/SF
NOI
$395.9K $12.64/SF
Area
Centennial, CO
Vacancy
22.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,918,220
Cap Rate 7%
$5,655,871
Cap Rate 9%
$4,399,011
Alternative Uses
Best Use
Office B
$5.66M
$4.95M – $6.60M
NOI $395,911 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.60M
$6.65M – $8.87M
NOI $532,032 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 80112, CO
35,713
Population
16,874
Households
2.1
Avg Household Size
36
Median Age
62%
College-Educated
97%
High-School Grad
17.8 sq mi
ZIP Area
2,006
Density / Sq Mi
$107,504
Median Household Income
$61,944
Median Earnings
$1,948
Median Rent
$627,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 31,332 SF office building with easy access to Denver.
Where is this office building located?
The property is located at 9137 E Mineral Cir Centennial, CO.
What is the asking price?
The asking price for this property is $6,210,000.
What are key features of this property?
This property features: Excellent Location: Quick access to Interstate 25 (0.5 miles) and the Denver Metro Area.; Convenient Transportation: Close proximity (0.5 miles) to RTD's Dry Creek Station, providing easy access to public transportation.; Accessibility to Downtown Denver: Approximately a 20‑minute drive and 35 minutes by Light Rail to Downtown Denver.
