Historic Office
For Sale
Contact for pricing
929 29th St, Denver, CO 80205
Historic office property with convenient access to bus, light rail, park space, and nearby dining and entertainment.
Property Size6,624 SF
Price / SF$279.29
Days on Market471
Property Features for 929 29th St
General Information
Standard status
Active
Size
6,624 SF
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Listing Agency:
Lee & Associates | Denver
(303) 296-8500
Listed By:
JR Bitzer · License ##FA.040016542
(303) 885-3055
Source:
Moodyscre
Added: May 20, 2025
Changed: Aug 30
Last Checked: Aug 31 at 8:02PM
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 Lee & Associates | Denver
Investment Insights
Based on property information with market context.
This historic office building contains 6,624 square feet and is positioned in Denver’s Five Points neighborhood. The property offers an established office setting within a building identified for its historic character.
Transit access includes bus service five blocks away at 30th and Downing and a light rail station four blocks away at Welton and 29th. Mestizo-Curtis Park is one block from the property, while the RiNo area is adjacent and provides access to entertainment, eateries, and co-working facilities.
Transit access includes bus service five blocks away at 30th and Downing and a light rail station four blocks away at Welton and 29th. Mestizo-Curtis Park is one block from the property, while the RiNo area is adjacent and provides access to entertainment, eateries, and co-working facilities.
Key Highlights
- 6,624‑square‑foot historic office building
- Five Points neighborhood location in Denver
- Five blocks from bus routes at 30th and Downing
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
$97,055
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
5.25%
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%
$1,941,100
$1.9M
Cap Rate 7%
$1,386,500
$1.4M
Cap Rate 9%
$1,078,389
$1.1M
Market Conditions
NOI Build-Up for 6,624 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
$174.9K $26.40/SF
− Vacancy
−$45.5K −$6.86/SF
EGI
$129.4K $19.54/SF
− OpEx
−$32.4K −$4.88/SF
NOI
$97.1K $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%
$1,941,100
Cap Rate 7%
$1,386,500
Cap Rate 9%
$1,078,389
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $97,055 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,606 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,336
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 - Historic office property with convenient access to bus, light rail, park space, and nearby dining and entertainment.
Where is this office building located?
The property is located at 929 29th St Denver, CO.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 6,624‑square‑foot historic office building; Five Points neighborhood location in Denver; Five blocks from bus routes at 30th and Downing
