Top-Floor Office Unit with Exposed
For Sale
Contact for pricing
1660 17th Street Suite 400, Denver, CO 80202
Fully built-out workspace combines historic character with high-end finishes.
Property Size5,214 SF
Price / SF$425.01
Days on Market28
Property Features for 1660 17th Street Suite 400
General Information
Standard status
Active
Size
5,214 SF
Net Rentable
5,214 SF
Class
A
Property subtype
Office
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Floor
top floor
Public Transit
Yes
Office Units
1
Building Details
Year Built
1910
Year Renovated
2023
Buildings
1
Stories
4
Units
2
Construction
brick, timber beam
Listing Agency:
Makers Real Estate
Listed By:
Caleb Vigil · License #CO
Source:
Crexi
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 2:52PM
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 Makers Real Estate
Investment Insights
Based on property information with market context.
Suite 400 is a 5,214 RSF office condominium on the top floor of a 1910 historic office building. The space is fully built out with high-end finishes, 18–20 ft exposed timber beam ceilings, and original exposed brick walls. Its vertical volume and retained architectural details create a distinct workplace setting within an established building.
The property is at 1660 17th Street in Denver’s LoDo submarket, directly across from Union Station. The building carries a 3-Star Historic Office classification, combining a central Lower Downtown setting with period construction and finished office improvements. Suite 400 provides a defined condominium opportunity for an owner-user or office occupant seeking a larger, character-rich workspace.
The property is at 1660 17th Street in Denver’s LoDo submarket, directly across from Union Station. The building carries a 3-Star Historic Office classification, combining a central Lower Downtown setting with period construction and finished office improvements. Suite 400 provides a defined condominium opportunity for an owner-user or office occupant seeking a larger, character-rich workspace.
Key Highlights
- 5,214 RSF office condominium in Suite 400
- Top‑floor position within a 1910 historic office building
- 18–20 ft exposed timber beam ceilings
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
$76,396
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
3.45%
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%
$1,527,920
$1.5M
Cap Rate 7%
$1,091,371
$1.1M
Cap Rate 9%
$848,844
$848.8K
Market Conditions
NOI Build-Up for 5,214 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
$137.6K $26.40/SF
− Vacancy
−$35.8K −$6.86/SF
EGI
$101.9K $19.54/SF
− OpEx
−$25.5K −$4.88/SF
NOI
$76.4K $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%
$1,527,920
Cap Rate 7%
$1,091,371
Cap Rate 9%
$848,844
Alternative Uses
Best Use
Office B
$1.09M
$955.0K – $1.27M
NOI $76,396 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,186 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
10,994
Businesses Nearby
Explore this area
Business Placement
Demographics for 80202, CO
19,606
Population
14,394
Households
1.4
Avg Household Size
34
Median Age
72%
College-Educated
96%
High-School Grad
1.2 sq mi
ZIP Area
16,338
Density / Sq Mi
$110,372
Median Household Income
$80,331
Median Earnings
$2,246
Median Rent
$677,100
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 - Fully built-out workspace combines historic character with high-end finishes.
Where is this office units located?
The property is located at 1660 17th Street Suite 400 Denver, CO.
What is the asking price?
The asking price for this property is $2,216,000.
What are key features of this property?
This property features: 5,214 RSF office condominium in Suite 400; Top‑floor position within a 1910 historic office building; 18–20 ft exposed timber beam ceilings
