Renovated Office Condo on
For Sale
$599,000
1401 South Broadway, Denver, CO 80210
Recently renovated office condo with high visibility and foot traffic.
Property Size1,606 SF
Price / SF$372.98
Days on Market276
Property Features for 1401 South Broadway
General Information
Standard status
Active
Size
1,606 SF
Class
A
Property subtype
Office
Building Details
Building Size
1,606 SF
Year Built
1915
Listing Agency:
Elite CRE
(708) 990-6028
Listed By:
Paul Nora · License #FA100023002
(708) 990-6028
Source:
Pinnaclerea
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 23 at 2:56AM
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 Elite CRE
Investment Insights
Based on property information with market context.
This 1606 square-foot condo is situated along the South Broadway corridor, benefiting from high visibility and substantial foot traffic. The property has been recently renovated, featuring a new HVAC and plumbing system complete with a lift, as well as an ADA-compliant bathroom. The main conference room includes doors that slide open and shut for privacy. Along the wall are four individual office spaces, each equipped with floor-to-ceiling windows and doors. Keyless electronic secure entrance via Brivo Pass was installed this year. Sonos speakers are installed throughout the space. A custom bar and floating shelves in the center are suitable for displaying awards, signage, or products. Almost all lights are on dimmers. This property is intended for office use and may be suitable for an owner-user.
Key Highlights
- High visibility and foot traffic on South Broadway corridor.
- Recently renovated with new HVAC and plumbing.
- ADA compliant bathroom.
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
$23,531
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
3.93%
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%
$470,620
$470.6K
Cap Rate 7%
$336,157
$336.2K
Cap Rate 9%
$261,456
$261.5K
Market Conditions
NOI Build-Up for 1,606 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
$42.4K $26.40/SF
− Vacancy
−$11.0K −$6.86/SF
EGI
$31.4K $19.54/SF
− OpEx
−$7.8K −$4.88/SF
NOI
$23.5K $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%
$470,620
Cap Rate 7%
$336,157
Cap Rate 9%
$261,456
Alternative Uses
Best Use
Office B
$336.2K
$294.1K – $392.2K
NOI $23,531 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.2K
$447.3K – $596.5K
NOI $35,787 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 80210, CO
39,394
Population
18,496
Households
2.1
Avg Household Size
33
Median Age
76%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
6,458
Density / Sq Mi
$120,156
Median Household Income
$61,607
Median Earnings
$1,963
Median Rent
$870,500
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 units - Recently renovated office condo with high visibility and foot traffic.
Where is this office units located?
The property is located at 1401 South Broadway Denver, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: High visibility and foot traffic on South Broadway corridor.; Recently renovated with new HVAC and plumbing.; ADA compliant bathroom.
