Versatile Flex Building in
For Sale
$800,000
175 Pecos, Denver, CO 80223
Recently upgraded flex building with office and warehouse space for sale.
Property Size2,376 SF
Price / SF$336.70
Days on Market447
Property Features for 175 Pecos
General Information
Standard status
Active
Size
2,376 SF
Taxes and HOA fees
Annual Taxes
$13,694
Building Details
Year Built
1977
Listing Agency:
URBAN LUXE REAL ESTATE
(720) 300-0330
Listed By:
DIONA GOUKER
Source:
Corcoran
Added: Jun 10, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 URBAN LUXE REAL ESTATE
Investment Insights
Based on property information with market context.
This versatile flex building, recently upgraded, is available for sale or lease, presenting an opportunity for businesses seeking a functional and centrally located space in Denver. The property, with 2,376 square feet on a 6,173 square foot lot, features a layout that includes a reception area, a conference room, five private offices, a kitchen/break area, and a drive-in warehouse/storage space. Equipped with two oversized drive-in doors, the building is suited for companies needing both office and light industrial capabilities. Recent improvements to the property total over $240,000, creating a turnkey environment ready for occupancy. The property provides six dedicated off-street parking spaces, abundant free street parking, and a fully fenced 1,000 square foot yard suitable for additional storage or equipment. Located minutes from I-25 and 6th Avenue, at 175 S Pecos St, it offers access throughout the Denver metro area. Downtown Denver is 7 minutes away, Cherry Creek is 15 minutes away, the Denver Tech Center is 20 minutes away and Denver International Airport is 30 minutes away. Situated near the Baker and West Washington Park neighborhoods, the building is close to amenities, restaurants, and services. This flexible space is suited for a range of users, including businesses needing a mix of office and warehouse space, service providers, creative or technical teams, and others seeking an accessible and functional location in Denver.
Key Highlights
- Recently upgraded with over $240,000 in improvements, offering a modern, turnkey environment.
- Functional layout features a reception area, conference room, five private offices, kitchen/break area, and drive‑in warehouse/storage space.
- Excellent access to I‑25 and 6th Avenue provides convenient access to key Denver locations.
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
$34,813
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
4.35%
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%
$696,260
$696.3K
Cap Rate 7%
$497,329
$497.3K
Cap Rate 9%
$386,811
$386.8K
Market Conditions
NOI Build-Up for 2,376 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
$62.7K $26.40/SF
− Vacancy
−$16.3K −$6.86/SF
EGI
$46.4K $19.54/SF
− OpEx
−$11.6K −$4.88/SF
NOI
$34.8K $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%
$696,260
Cap Rate 7%
$497,329
Cap Rate 9%
$386,811
Alternative Uses
Best Use
Office B
$497.3K
$435.2K – $580.2K
NOI $34,813 @ 7.0% cap · market cap 4.35%
Second Best
Warehouse
$350.8K
$306.9K – $409.2K
NOI $24,553 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$756.4K
$661.8K – $882.4K
NOI $52,946 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
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?
Flex space - Recently upgraded flex building with office and warehouse space for sale.
Where is this flex space located?
The property is located at 175 Pecos Denver, CO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Recently upgraded with over $240,000 in improvements, offering a modern, turnkey environment.; Functional layout features a reception area, conference room, five private offices, kitchen/break area, and drive‑in warehouse/storage space.; Excellent access to I‑25 and 6th Avenue provides convenient access to key Denver locations.
