Denver Office/Flex Building For
For Sale
$2,450,000
2721 W Holden Place, Denver, CO 80204
10,138 SF office/flex building near Downtown Denver.
Property Size10,138 SF
Lot Size0.22 Acres
Price / SF$241.67
Days on Market353
Property Features for 2721 W Holden Place
General Information
Standard status
Active
Size
10,138 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$29,838
Amenities
Metal Roof
Landscaped
Building Details
Year Built
1998
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES COLORADO REAL ESTATE, LLC
(303) 289-7009
Listed By:
CANDICE OH
Source:
Corcoran
Added: Sep 3, 2025
Changed: Aug 19
Last Checked: Aug 20 at 6:22AM
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 BERKSHIRE HATHAWAY HOMESERVICES COLORADO REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
Located at 2721 W Holden Place in Denver, CO, this commercial asset is a 10,138 SF office/flex building. Constructed in 1998 and renovated in 2014, the property features four units and is zoned CMX-8. The building offers a flexible configuration, including a 4,000 SF upper-level suite. Features include private entrances, updated kitchens and restrooms with showers, a drive-in bay, and warehouse space. The property is located minutes from Downtown Denver and Empower Field, with access to I-25, Colfax, and Federal Blvd. This property is suitable for businesses looking to elevate their workspace, or for investors targeting an adaptable, income-generating asset.
Key Highlights
- Prime location minutes from Downtown Denver and Empower Field, with excellent access to I‑25, Colfax, and Federal Blvd.
- Versatile 10,138 SF office/flex building with four units and CMX‑8 zoning.
- Available 4,000 SF upper‑level suite ideal for an owner‑user.**
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
$148,542
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
6.06%
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%
$2,970,840
$3.0M
Cap Rate 7%
$2,122,029
$2.1M
Cap Rate 9%
$1,650,467
$1.7M
Market Conditions
NOI Build-Up for 10,138 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
$267.6K $26.40/SF
− Vacancy
−$69.6K −$6.86/SF
EGI
$198.1K $19.54/SF
− OpEx
−$49.5K −$4.88/SF
NOI
$148.5K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
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%
$2,970,840
Cap Rate 7%
$2,122,029
Cap Rate 9%
$1,650,467
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,542 @ 7.0% cap · market cap 6.06%
Second Best
Flex RnD
$1.35M
$1.18M – $1.58M
NOI $94,575 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$3.23M
$2.82M – $3.77M
NOI $225,910 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 10,138 SF office/flex building near Downtown Denver.
Where is this office building located?
The property is located at 2721 W Holden Place Denver, CO.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Prime location minutes from Downtown Denver and Empower Field, with excellent access to I‑25, Colfax, and Federal Blvd.; Versatile 10,138 SF office/flex building with four units and CMX‑8 zoning.; Available 4,000 SF upper‑level suite ideal for an owner‑user.**
