Three-Building Mixed-Use
For Sale
Contact for pricing
1645 Canyon Boulevard, Boulder, CO 80302
MX-N zoning covers an assemblage with office and residential improvements.
Property Size4,007 SF
Price / SF$524.08
Days on Market137
Property Features for 1645 Canyon Boulevard
General Information
Standard status
Active
Size
4,007 SF
Total Parking Spaces
4
Property subtype
Mixed Use
Zoning
MX-N / Historic District
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$105,168
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Keys Commercial
(303) 447-2700
Listed By:
Geoffrey Keys · License #CO 000216271
Source:
Crexi
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 7:28PM
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 Keys Commercial
Investment Insights
Based on property information with market context.
This 4,007 SF mixed-use property at 1645 Canyon Boulevard comprises three buildings: one commercial office structure and two residential buildings. The property is currently occupied by four tenants, creating an established mix of office and residential uses within the assemblage.
The property occupies the corner of 17th Street and Canyon Boulevard in Boulder’s Historic District. CU Boulder, Pearl Street, and the Boulder Creek Path are located nearby, placing the site within a walkable central Boulder setting. MX-N zoning and the Historic District designation are documented property characteristics.
The property occupies the corner of 17th Street and Canyon Boulevard in Boulder’s Historic District. CU Boulder, Pearl Street, and the Boulder Creek Path are located nearby, placing the site within a walkable central Boulder setting. MX-N zoning and the Historic District designation are documented property characteristics.
Key Highlights
- 4,007 SF mixed‑use assemblage at 1645 Canyon Boulevard
- Three‑building configuration with one commercial office building and two residential structures
- Four current tenants across the property
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
$64,974
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
3.09%
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%
$1,299,480
$1.3M
Cap Rate 7%
$928,200
$928.2K
Cap Rate 9%
$721,933
$721.9K
Market Conditions
NOI Build-Up for 4,007 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
$110.6K $27.60/SF
− Vacancy
−$6.6K −$1.66/SF
EGI
$104.0K $25.94/SF
− OpEx
−$39.0K −$9.73/SF
NOI
$65.0K $16.22/SF
Area
Boulder, CO
Vacancy
6.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,299,480
Cap Rate 7%
$928,200
Cap Rate 9%
$721,933
Alternative Uses
Best Use
Mixed Use
$928.2K
$812.2K – $1.08M
NOI $64,974 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$902.0K
$789.3K – $1.05M
NOI $63,140 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,783 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,796
Businesses Nearby
Explore this area
Business Placement
Demographics for 80302, CO
27,322
Population
13,556
Households
2
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
93.9 sq mi
ZIP Area
291
Density / Sq Mi
$60,649
Median Household Income
$19,586
Median Earnings
$1,850
Median Rent
$1,123,800
Median Home Value
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?
Mixed-use property - MX-N zoning covers an assemblage with office and residential improvements.
Where is this mixed-use property located?
The property is located at 1645 Canyon Boulevard Boulder, CO.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 4,007 SF mixed‑use assemblage at 1645 Canyon Boulevard; Three‑building configuration with one commercial office building and two residential structures; Four current tenants across the property
