Multi-Tenant Brick Office
For Sale
$1,999,000
1700 E 17th Ave, Denver, CO 80218
All-brick Class B office building built in 1981 with multiple tenants in place for immediate occupancy.
Property Size6,292 SF
Price / SF$327.49
Days on Market142
Property Features for 1700 E 17th Ave
General Information
Standard status
Active
Size
6,292 SF
Class
Class B
Property subtype
Office
Amenities
• Great City Park West Location Right on 17th • Private Parking Lot – 18 Spaces. • Owner-User Opportunity with In-Place Income • Single Tenant Opportunity in the Future
• Private Patio • Taxes 2024-2025 $38,857
• Building SF 6,292 • Rentable SF 6,104 • Lot Size 10,454 SF • Zoning G-MS-3
Building Details
Building Size
6,292 SF
Year Built
1981
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2056
Listed By:
Chadd Nelson · License #License(s): CO: FA.100073491
(303) 328-2056
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 7
Last Checked: Aug 22 at 3:44AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This all-brick Class B multi-tenant office building was built in 1981 and totals 6,292 gross square feet. The property offers 6,104 rentable square feet and features two tenants currently in place, creating a stable setup for an owner-user seeking immediate occupancy.
The building is positioned for strong visibility along 17th Street and is located near medical facilities and restaurants, with Denver parks also nearby and downtown minutes away.
For buyers evaluating an owner-occupied or partially owner-occupied office scenario, the current two-tenant configuration supports an immediate move-in plan while retaining income from existing occupancy.
The building is positioned for strong visibility along 17th Street and is located near medical facilities and restaurants, with Denver parks also nearby and downtown minutes away.
For buyers evaluating an owner-occupied or partially owner-occupied office scenario, the current two-tenant configuration supports an immediate move-in plan while retaining income from existing occupancy.
Key Highlights
- All‑brick Class B multi‑tenant office building built in 1981
- 6,292 gross SF with 6,104 rentable SF
- High visibility on 17th Street
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
$89,436
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
4.47%
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%
$1,788,720
$1.8M
Cap Rate 7%
$1,277,657
$1.3M
Cap Rate 9%
$993,733
$993.7K
Market Conditions
NOI Build-Up for 6,104 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
$161.1K $26.40/SF
− Vacancy
−$41.9K −$6.86/SF
EGI
$119.2K $19.54/SF
− OpEx
−$29.8K −$4.88/SF
NOI
$89.4K $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%
$1,788,720
Cap Rate 7%
$1,277,657
Cap Rate 9%
$993,733
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,436 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,019 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 80218, CO
19,484
Population
13,116
Households
1.5
Avg Household Size
35
Median Age
72%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
12,178
Density / Sq Mi
$82,925
Median Household Income
$67,570
Median Earnings
$1,475
Median Rent
$653,900
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - All-brick Class B office building built in 1981 with multiple tenants in place for immediate occupancy.
Where is this office building located?
The property is located at 1700 E 17th Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: All‑brick Class B multi‑tenant office building built in 1981; 6,292 gross SF with 6,104 rentable SF; High visibility on 17th Street
