Multi-Suite Office
For Sale
Contact for pricing
5600 Arapahoe Ave, Boulder, CO 80303
Multi-suite office building with 30 parking spaces and an owner-user layout opportunity.
Property Size10,484 SF
Price / SF$366.37
Days on Market1090
Property Features for 5600 Arapahoe Ave
General Information
Standard status
Active
Size
10,484 SF
Total Parking Spaces
30
Property subtype
OFFICE
Additional Details
Office Units
14
Amenities
overlooking Flatirons Golf Course
lush landscaping
gardens
outdoor sitting areas
Building Details
Tenancy
Multi
Listing Agency:
Gibbons-White, Inc.
(303) 442-1040
Listed By:
Michael-Ryan McCarty · License #FA.040029628
(303) 818-7688
Source:
Moodyscre
Added: Sep 19, 2023
Changed: Aug 16
Last Checked: Sep 11 at 9:13AM
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.
This multi-suite office building offers 14 suites and an on-site mix of tenants, with the potential for a full building owner-user occupancy configuration. The property includes landscaping and outdoor sitting areas and is described as overlooking Flatirons Golf Course.
The asset is located at 5600 Arapahoe Ave in Boulder. Public remarks also note nearby neighborhood dining and breweries, including Blackbelly, Pica’s Mexican, Ozo Coffee, Snarf’s, Le Frigo, Wild Provisions, 4 Noses Brewing, and Upslope Brewing.
Parking for the property is indicated at 30 spaces, supporting daily access for tenants and visitors.
The asset is located at 5600 Arapahoe Ave in Boulder. Public remarks also note nearby neighborhood dining and breweries, including Blackbelly, Pica’s Mexican, Ozo Coffee, Snarf’s, Le Frigo, Wild Provisions, 4 Noses Brewing, and Upslope Brewing.
Parking for the property is indicated at 30 spaces, supporting daily access for tenants and visitors.
Key Highlights
- 14‑suite multi‑suite office building with an owner‑user occupancy layout opportunity
- Overlooks Flatirons Golf Course with outdoor sitting areas, lush landscaping, and gardens
- Tenant mix includes multiple local neighborhood businesses listed in the remarks
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
$147,384
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
3.84%
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%
$2,947,680
$2.9M
Cap Rate 7%
$2,105,486
$2.1M
Cap Rate 9%
$1,637,600
$1.6M
Market Conditions
NOI Build-Up for 10,484 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
$276.8K $26.40/SF
− Vacancy
−$80.3K −$7.66/SF
EGI
$196.5K $18.74/SF
− OpEx
−$49.1K −$4.69/SF
NOI
$147.4K $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%
$2,947,680
Cap Rate 7%
$2,105,486
Cap Rate 9%
$1,637,600
Alternative Uses
Best Use
Office B
$2.11M
$1.84M – $2.46M
NOI $147,384 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,993 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
14
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
921
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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 - Multi-suite office building with 30 parking spaces and an owner-user layout opportunity.
Where is this office building located?
The property is located at 5600 Arapahoe Ave Boulder, CO.
What is the asking price?
The asking price for this property is $3,841,000.
What are key features of this property?
This property features: 14‑suite multi‑suite office building with an owner‑user occupancy layout opportunity; Overlooks Flatirons Golf Course with outdoor sitting areas, lush landscaping, and gardens; Tenant mix includes multiple local neighborhood businesses listed in the remarks
