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    Downtown Boulder Retail & Office Title is generated by Realmo AI

    1735-1737 15th St, Boulder, CO 80302

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    Classic building with exposed brick, wood timbers, and high ceilings.

    Type:Retail, Office
    Property size:
    7,758 SF
    Lot size:
    0.33 Acres
    Price / SF:
    $580/SF
    Added:
    Sep 11, 2024
    Days on Market:
    623
    Last Refresh:
    May 12 at 10:42 pm

    Property Features for 1735-1737 15th St

    General Information

    Standard status
    Active
    Size
    7,758 SF
    Lot size
    0.33 Acres
    Property subtype
    Retail, Office

    We can help!

    Listing Contact
    Michael-Ryan McCarty

    Listing agent Michael-Ryan McCarty License #CO FA.040029628

    Listing office Gibbons-White Inc

    Listing date Sep 11, 2024

    Source Crexi

    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 Gibbons-White Inc

    HighLights

    • Prime Downtown Boulder Location: Direct access to Boulder Creek Path and 2 blocks from Pearl Street Mall.
    • Large 0.33 Acre Site: DT‑5 Zoning offers potential development opportunities.
    • Unique Architectural Features: Exposed brick, beautiful wood timbers, and high ceilings.
    • Flexible 2nd Floor Office Space: Includes reception, large conference room, 10 offices, open work area, and balcony with Flatirons views.
    • Ample Parking: 10 on‑site parking spaces at no cost (22 total for the building).
    • Separate Storage Building: Additional 338 sq. ft. storage space.

    Overview

    This classic downtown Boulder building offers both retail and office space. The property features exposed brick, beautiful wood timbers, and high ceilings. The second floor provides office space with flexible layout options, including a reception area, a large conference room, 10 offices, an open work area, a balcony, and views of the Flatirons. The property has direct access to the Boulder Creek Path and is located two blocks from Pearl Street Mall. Situated on a 0.33-acre site with DT-5 zoning, the property also includes a separate 338-square-foot storage building. There are 10 on-site parking spaces available at no cost, contributing to a total of 22 spaces for the building. The total property size is 7758 square feet.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boulder
    County
    Boulder
    State
    Colorado
    Longitude
    -105.2754028
    Latitude
    40.0158737

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    FAQs

    What type of property is this?
    Mixed-use property - Classic building with exposed brick, wood timbers, and high ceilings.
    Where is this mixed-use property located?
    The property is located at 1735-1737 15th St Boulder, CO.
    What is the asking price?
    The asking price for this property is $4,499,640.
    What are key features of this property?
    This property features: Prime Downtown Boulder Location: Direct access to Boulder Creek Path and 2 blocks from Pearl Street Mall.; Large 0.33 Acre Site: DT‑5 Zoning offers potential development opportunities.; Unique Architectural Features: Exposed brick, beautiful wood timbers, and high ceilings.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael-Ryan McCarty
    Real Estate License ID: CO FA.040029628
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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