Historic Two-Level Office
For Sale
Contact for pricing
1800 15th Street Units 101 + 105, Denver, CO 80202
Updated interiors include private offices, conference rooms, and a kitchen/break area.
Property Size3,546 SF
Price / SF$521.71
Days on Market13
Property Features for 1800 15th Street Units 101 + 105
General Information
Standard status
Active
Size
3,546 SF
Class
B
Total Parking Spaces
1
Property subtype
Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1886
Year Renovated
2026
Stories
2
Construction
brick and timber
Listing Agency:
Kentwood Commercial
(303) 947-3665
Listed By:
Jen Fillion · License #EA40042617
Source:
Crexi
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 21 at 10:01PM
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 Kentwood Commercial
Investment Insights
Based on property information with market context.
Built in 1886 and measuring 3,546 square feet, this two-level office property pairs historic construction with extensive interior updates. The main floor includes a lobby with seating, two executive offices, three additional private offices, two remodeled restrooms, a kitchen and break area, copier space, and a conference room. Exposed brick, timber elements, wood-beamed ceilings, large windows, updated flooring, fresh paint, upgraded lighting, and contemporary fixtures contribute to the interior character. Upstairs, a second conference room with glass enclosure is complemented by built-in features, refinished hardwood floors, and storage.
The property is at 1800 15th Street, Units 101 + 105, in Denver’s LoDo district. Union Station, Coors Field, Dairy Block, McGregor Square, Larimer Square, and the 16th Street corridor are identified nearby, with restaurants, coffee shops, hotels, fitness concepts, and retail within walking distance. Light rail, commuter rail, bus service, and nearby I-25 provide regional transportation connections.
The property is at 1800 15th Street, Units 101 + 105, in Denver’s LoDo district. Union Station, Coors Field, Dairy Block, McGregor Square, Larimer Square, and the 16th Street corridor are identified nearby, with restaurants, coffee shops, hotels, fitness concepts, and retail within walking distance. Light rail, commuter rail, bus service, and nearby I-25 provide regional transportation connections.
Key Highlights
- 3,546‑square‑foot office property at 1800 15th Street, Units 101 + 105, Denver, CO
- Constructed in 1886 with updated interior finishes and building features
- Two executive offices plus three additional private offices
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
$51,956
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
2.81%
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%
$1,039,120
$1.0M
Cap Rate 7%
$742,229
$742.2K
Cap Rate 9%
$577,289
$577.3K
Market Conditions
NOI Build-Up for 3,546 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
$93.6K $26.40/SF
− Vacancy
−$24.3K −$6.86/SF
EGI
$69.3K $19.54/SF
− OpEx
−$17.3K −$4.88/SF
NOI
$52.0K $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%
$1,039,120
Cap Rate 7%
$742,229
Cap Rate 9%
$577,289
Alternative Uses
Best Use
Office B
$742.2K
$649.5K – $865.9K
NOI $51,956 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$987.7K – $1.32M
NOI $79,017 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,224
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 building - Updated interiors include private offices, conference rooms, and a kitchen/break area.
Where is this office building located?
The property is located at 1800 15th Street Units 101 + 105 Denver, CO.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 3,546‑square‑foot office property at 1800 15th Street, Units 101 + 105, Denver, CO; Constructed in 1886 with updated interior finishes and building features; Two executive offices plus three additional private offices
