2995 Baseline Rd Boulder, CO 80303

This is a three-story mid-century medical and professional office building. It is a prime candidate for residential multifamily or student housing conversion. The property is ideal for an owner-user medical or professional office with short-term leases. The area market proforma rents are $21.00 per square foot NNN, resulting in a proforma NOI of $536,634. The existing building supports up to 18 dwelling units and 66 bedrooms, with a buildable site able to support up to 26 total dwelling units with parking reduction. The property is located across from Williams Village at CU Boulder and three blocks from the main campus, at the intersection of Baseline Road, 30th Street, and Canyon Creek Road, all with direct access to the property. It is also close to US 36 and on a bus route. Parking includes 84 spaces (3.23/1,000 square feet), including a two-story post-stressed parking structure with 29 covered spaces. Recent capital improvements include elevator renewal, a refurbished parking structure, new boilers, HVAC upgrades, landscaping, and common area and suite improvements.