Modernized City Park West
For Sale
$2,500,000
1575 N Gilpin, Denver, CO 80218
Move-in ready commercial property in Denver's City Park West.
Property Size9,375 SF
Lot Size0.22 Acres
Days on Market179
Property Features for 1575 N Gilpin
General Information
Standard status
Active
Size
9,375 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$38,933
Building Details
Building Size
9,375 SF
Year Built
1918
Stories
2
Units
1
Listing Agency:
Unique Properties, Inc.
Listed By:
Brett MacDougall · License #FA.100049630
(201) 274-5768
Source:
Elliman
Added: Mar 10
Changed: Sep 4
Last Checked: Sep 4 at 12:52PM
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 Unique Properties, Inc.
Investment Insights
Based on property information with market context.
Located in Denver’s City Park West, this modernized professional property features high ceilings and polished finishes. The flexible layouts are ideal for architects, engineers, or creative users. Situated on a corner lot, the building offers on-site parking, visibility, and accessibility. The property includes tech infrastructure, minimal buildout needs, and adaptable configurations for owner-users or investors. This move-in ready asset provides long-term flexibility in a walkable, established neighborhood. The property also features mature landscaping and street parking. It presents a live/work opportunity with full residential amenities and high-end finishes. The property was formerly used as a custom-built architecture office and is available for sale or lease.
Key Highlights
- Prime corner lot location in Denver's City Park West with excellent visibility and accessibility.
- Rare on‑site parking in a walkable, established neighborhood.
- Move‑in ready condition with high‑end finishes.
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
$137,363
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
5.49%
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%
$2,747,260
$2.7M
Cap Rate 7%
$1,962,329
$2.0M
Cap Rate 9%
$1,526,256
$1.5M
Market Conditions
NOI Build-Up for 9,375 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
$247.5K $26.40/SF
− Vacancy
−$64.4K −$6.86/SF
EGI
$183.2K $19.54/SF
− OpEx
−$45.8K −$4.88/SF
NOI
$137.4K $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%
$2,747,260
Cap Rate 7%
$1,962,329
Cap Rate 9%
$1,526,256
Alternative Uses
Best Use
Office B
$1.96M
$1.72M – $2.29M
NOI $137,363 @ 7.0% cap · market cap 5.49%
Second Best
Mixed Use
$1.89M
$1.65M – $2.20M
NOI $132,047 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,908 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,526
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?
Live-work space - Move-in ready commercial property in Denver's City Park West.
Where is this live-work space located?
The property is located at 1575 N Gilpin Denver, CO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime corner lot location in Denver's City Park West with excellent visibility and accessibility.; Rare on‑site parking in a walkable, established neighborhood.; Move‑in ready condition with high‑end finishes.
