Renovated Standalone Office
For Sale
$1,350,000
1720 St 1720 15th St 1720, Boulder, CO 80302
Two above-ground levels include a bathroom with shower and additional basement space.
Property Size2,517 SF
Price / SF$536.35
Days on Market57
Property Features for 1720 St 1720 15th St 1720
General Information
Standard status
Active
Size
2,517 SF
Total Parking Spaces
2
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$44,210
Amenities
bathroom with shower
3
DT 1
City
2992.0
Sidewalks. Asphalt, City Road.
Building Details
Year Built
1905
Buildings
1
Stories
2
Listing Agency:
Key Realty
(303) 214-1540
Listed By:
Geoffrey Keys · License #000216271
(303) 214-1540
Source:
Xome
Added: Jul 5
Changed: Aug 30
Last Checked: Aug 30 at 1:35AM
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 Key Realty
Investment Insights
Based on property information with market context.
This standalone office building in Boulder offers 2,517 square feet across two above-ground levels, along with 616 square feet in the basement. The property was renovated and is currently leased for office use. A bathroom with shower adds practical support space, while the building’s earlier history as a candy store contributes established character and retail relevance.
Two parking spaces are located off the south-side alley. The property sits on 15th St in downtown Boulder, with sidewalks and city-maintained asphalt road access. The current office lease expires 7/27, and showings require 24-hour notice.
Two parking spaces are located off the south-side alley. The property sits on 15th St in downtown Boulder, with sidewalks and city-maintained asphalt road access. The current office lease expires 7/27, and showings require 24-hour notice.
Key Highlights
- 2,517‑square‑foot standalone office building
- 616 square feet of basement space
- Two above‑ground levels with a bathroom and shower
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
$41,514
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
3.08%
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%
$830,280
$830.3K
Cap Rate 7%
$593,057
$593.1K
Cap Rate 9%
$461,267
$461.3K
Market Conditions
NOI Build-Up for 2,517 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
$63.4K $25.20/SF
− Vacancy
−$4.1K −$1.64/SF
EGI
$59.3K $23.56/SF
− OpEx
−$17.8K −$7.07/SF
NOI
$41.5K $16.49/SF
Area
Boulder, CO
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$830,280
Cap Rate 7%
$593,057
Cap Rate 9%
$461,267
Alternative Uses
Best Use
Retail
$593.1K
$518.9K – $691.9K
NOI $41,514 @ 7.0% cap · market cap 3.08%
Second Best
Office B
$505.5K
$442.3K – $589.7K
NOI $35,384 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$850.5K
$744.2K – $992.3K
NOI $59,538 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,548
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
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Frequently Asked Questions
What type of property is this?
Office building - Two above-ground levels include a bathroom with shower and additional basement space.
Where is this office building located?
The property is located at 1720 St 1720 15th St 1720 Boulder, CO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,517‑square‑foot standalone office building; 616 square feet of basement space; Two above‑ground levels with a bathroom and shower
