Modern Office Condo For
For Sale
$665,000
1501 124th Avenue, Denver, CO 80234
Two-story office condo with mountain views and flexible floor plan.
Property Size1,791 SF
Price / SF$371.30
Days on Market127
Property Features for 1501 124th Avenue
General Information
Standard status
Active
Size
1,791 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$19,889
Amenities
3
Other
Asphalt.
Paved Road.
Building Details
Year Built
2016
Listing Agency:
LIV Sotheby's International Realty
(303) 993-9371
Listed By:
Joshua Jackson · License #0736393
(303) 993-9371
Source:
Xome
Added: Apr 21
Changed: Aug 25
Last Checked: Aug 25 at 4:50AM
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 LIV Sotheby's International Realty
Investment Insights
Based on property information with market context.
This modern, two-story office condo, constructed in 2016, presents an investment opportunity for businesses seeking adaptable and professional space. The property, classified as Class B Office Space, includes multiple offices, a reception area, workstations, a stairway, a large conference room, a kitchen, a bathroom, and a large glass grade-level overhead door. Impressive windows offer views, with several offices featuring direct mountain views. Parking is available in the shared office complex lot. The condo's floor plans are adaptable, allowing for expansion of open areas into more workstations. This versatility suits various professional uses, from open-plan offices to private workspaces. The large conference room and offices provide space for meetings and collaborative work. Located in the Urban Box building park, the property offers tenants direct access to a greenbelt for walking and biking. Positioned two miles from Interstate 25 and about a mile from the 120th Avenue retail corridor, it is easily accessible. Nearby national tenants include Circle K, Starbucks, Wells Fargo, and FedEx. Situated nine miles north of Downtown Denver, the property benefits from its proximity to Colorado's capital city, offering shopping, dining, and outdoor recreation options. Located in North Denver, the office condo is part of a metro area experiencing growth. The property contains 1791 square feet.
Key Highlights
- Prime location in North Denver with easy access to I‑25, 120th Avenue retail corridor, and Downtown Denver.
- Flexible floor plan adaptable to various professional uses.
- Modern, Class B office condo built in 2016 with multiple offices, conference room, kitchen, and 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
$26,242
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
3.95%
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%
$524,840
$524.8K
Cap Rate 7%
$374,886
$374.9K
Cap Rate 9%
$291,578
$291.6K
Market Conditions
NOI Build-Up for 1,791 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
$47.3K $26.40/SF
− Vacancy
−$12.3K −$6.86/SF
EGI
$35.0K $19.54/SF
− OpEx
−$8.7K −$4.88/SF
NOI
$26.2K $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%
$524,840
Cap Rate 7%
$374,886
Cap Rate 9%
$291,578
Alternative Uses
Best Use
Office B
$374.9K
$328.0K – $437.4K
NOI $26,242 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.1K
$498.9K – $665.2K
NOI $39,910 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 80234, CO
29,660
Population
12,814
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,237
Density / Sq Mi
$88,714
Median Household Income
$50,926
Median Earnings
$1,772
Median Rent
$493,900
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 - Two-story office condo with mountain views and flexible floor plan.
Where is this office units located?
The property is located at 1501 124th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Prime location in North Denver with easy access to I‑25, 120th Avenue retail corridor, and Downtown Denver.; Flexible floor plan adaptable to various professional uses.; Modern, Class B office condo built in 2016 with multiple offices, conference room, kitchen, and bathroom.
