Multi-Tenant Office Building
For Sale
$6,500,000
1200 St 1200 28th St 1200, Boulder, CO 80303
Multi-tenant office building on 0.64 acres with underground and surface parking, positioned near the CU campus.
Property Size19,368 SF
Lot Size0.64 Acres
Price / SF$335.61
Days on Market214
Property Features for 1200 St 1200 28th St 1200
General Information
Standard status
Active
Size
19,368 SF
Total Parking Spaces
68
Lot size
0.64 Acres
Property subtype
Office
Zoning
RH-5
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Central Air
3
RH-5
Corner Lot.
Hill
28078.0
Corner.
Building Details
Year Built
1995
Tenancy
Multi
Listing Agency:
Gibbons-White, Inc.
(303) 442-1040
Listed By:
Michael-Ryan McCarty · License #FA.040029628
(303) 586-5939
Source:
Xome
Added: Feb 2
Changed: Sep 2
Last Checked: Sep 4 at 4:22AM
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 Gibbons-White, Inc.
Investment Insights
Based on property information with market context.
The property is an improved commercial site totaling 0.64 acres, currently developed with a 19,368 SF multi-tenant office building. Parking is provided through an underground parking component with 38 spaces, along with 30 surface spaces for 68 total spaces, supporting both employee and tenant access.
The site is located directly across the street from the CU campus and sits at the intersection of 28th Street and Colorado Ave. With direct access to the US 36/28th Street corridor, the location is positioned for convenient regional connectivity.
From an ownership perspective, the property is offered with high-density RH-5 (Residential-High 5) zoning, which may support a range of redevelopment or alternative residential plans, subject to applicable approvals. For office users, the existing multi-tenant building and on-site parking configuration provide an immediate built-out option within a CU-adjacent setting.
The site is located directly across the street from the CU campus and sits at the intersection of 28th Street and Colorado Ave. With direct access to the US 36/28th Street corridor, the location is positioned for convenient regional connectivity.
From an ownership perspective, the property is offered with high-density RH-5 (Residential-High 5) zoning, which may support a range of redevelopment or alternative residential plans, subject to applicable approvals. For office users, the existing multi-tenant building and on-site parking configuration provide an immediate built-out option within a CU-adjacent setting.
Key Highlights
- 0.64‑acre corner lot (28,078 SF) improved with a 19,368 SF multi‑tenant office building
- High‑density RH‑5 (Residential‑High 5) zoning
- Located at the intersection of 28th Street & Colorado Ave, directly across the street from CU campus
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
$272,275
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
4.19%
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%
$5,445,500
$5.4M
Cap Rate 7%
$3,889,643
$3.9M
Cap Rate 9%
$3,025,278
$3.0M
Market Conditions
NOI Build-Up for 19,368 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
$511.3K $26.40/SF
− Vacancy
−$148.3K −$7.66/SF
EGI
$363.0K $18.74/SF
− OpEx
−$90.8K −$4.69/SF
NOI
$272.3K $14.06/SF
Area
Boulder, CO
Vacancy
29.00%
Lease Rate
$26.40 /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%
$5,445,500
Cap Rate 7%
$3,889,643
Cap Rate 9%
$3,025,278
Alternative Uses
Best Use
Office B
$3.89M
$3.40M – $4.54M
NOI $272,275 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.54M
$5.73M – $7.64M
NOI $458,138 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,288
Businesses Nearby
Explore this area
Business Placement
Demographics for 80303, CO
25,328
Population
12,583
Households
2
Avg Household Size
32
Median Age
79%
College-Educated
99%
High-School Grad
21.9 sq mi
ZIP Area
1,157
Density / Sq Mi
$77,344
Median Household Income
$31,661
Median Earnings
$1,833
Median Rent
$941,600
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 - Multi-tenant office building on 0.64 acres with underground and surface parking, positioned near the CU campus.
Where is this office building located?
The property is located at 1200 St 1200 28th St 1200 Boulder, CO.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 0.64‑acre corner lot (28,078 SF) improved with a 19,368 SF multi‑tenant office building; High‑density RH‑5 (Residential‑High 5) zoning; Located at the intersection of 28th Street & Colorado Ave, directly across the street from CU campus
