Boutique Office Building Near City
For Sale
$825,000
2043 York Street, Denver, CO 80205
Boutique office building with parking near Denver's City Park.
Property Size3,552 SF
Price / SF$232.26
Days on Market151
Property Features for 2043 York Street
General Information
Standard status
Active
Size
3,552 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
G-RO-3
Taxes and HOA fees
Annual Taxes
$16,299
Building Details
Building Size
3,552 SF
Year Built
1955
Units
1
Listing Agency:
RE/MAX of Boulder
(303) 570-8655
Listed By:
Jed MacArthur · License #40025529
(303) 570-8655
Source:
Coloradopartners
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 23 at 6:54AM
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 RE/MAX of Boulder
Investment Insights
Based on property information with market context.
This boutique office building is located directly across the street from Denver's City Park, offering convenient access to Capital Hill, Lodo, Larimer Square, and Rino neighborhoods, as well as quick access to I-70. The main floor features 3 private offices, a conference room, a reception area, a living room/casual hang area, and a full restroom. The offices are large with tall ceilings, offering the potential for shared occupancy. The basement level includes 4 private offices (2 shareable), a common area suitable for 3 desks, a restroom, storage space, and a mechanical room. The property includes 7 parking spaces and is situated in an area with commercial law firms and CPAs. Additional features include a new A/C unit, a landscaped patio, a front porch, and mural art on the parking lot side. The zoning and ample parking provide flexibility for multiple uses. The property generates $78,000 in rent annually, based on a 6-year average. The building size is 3,552 square feet.
Key Highlights
- Prime location directly across from City Park with easy access to key Denver neighborhoods and I‑70.
- Generates $78,000 in annual rental income (6‑year average).
- Flexible zoning and ample parking (7 spaces) allows for multiple uses.
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
$52,044
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
6.31%
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%
$1,040,880
$1.0M
Cap Rate 7%
$743,486
$743.5K
Cap Rate 9%
$578,267
$578.3K
Market Conditions
NOI Build-Up for 3,552 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
$93.8K $26.40/SF
− Vacancy
−$24.4K −$6.86/SF
EGI
$69.4K $19.54/SF
− OpEx
−$17.3K −$4.88/SF
NOI
$52.0K $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%
$1,040,880
Cap Rate 7%
$743,486
Cap Rate 9%
$578,267
Alternative Uses
Best Use
Office B
$743.5K
$650.6K – $867.4K
NOI $52,044 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$989.4K – $1.32M
NOI $79,151 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,862
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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 - Boutique office building with parking near Denver's City Park.
Where is this office building located?
The property is located at 2043 York Street Denver, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Prime location directly across from City Park with easy access to key Denver neighborhoods and I‑70.; Generates $78,000 in annual rental income (6‑year average).; Flexible zoning and ample parking (7 spaces) allows for multiple uses.
