Brick Courtyard Office
For Sale
$2,950,000
1890 Gaylord Street, Denver, CO 80206
Horseshoe-shaped office property with private landscaped courtyard, reception area, conference rooms, storage, and dedicated parking.
Property Size9,076 SF
Days on Market62
Property Features for 1890 Gaylord Street
General Information
Standard status
Active
Size
9,076 SF
Total Parking Spaces
15
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$54,913
Amenities
private courtyard
fountain
fireplace
reception desk
conference rooms
kitchen
bathrooms with showers
Building Details
Building Size
9,076 SF
Year Built
1984
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Zimmerman & Associates
(720) 974-5900
Listed By:
Herb Zimmerman
Source:
Eliselosassore
Added: Jun 22
Changed: Aug 20
Last Checked: Aug 21 at 10:11AM
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 Zimmerman & Associates
Investment Insights
Based on property information with market context.
Built in 1984, this brick office building is arranged in a horseshoe configuration around a private landscaped courtyard with a fountain. The interior includes a waiting area with fireplace and reception desk, 18 private offices, six open offices, and two additional offices with fireplaces. Two conference rooms, one on each level, support meetings, while coffee sink areas, a separate kitchen, storage rooms, copier rooms, file areas, and closets add practical workspace functionality. Men’s and women’s restrooms are located on both levels, with showers in the lower-level facilities.
The property provides 15 parking spaces, including nine covered spaces, along with available street parking. It is located at 1890 Gaylord Street in Denver, approximately 250 feet from City Park and near downtown Denver. The building sits on a quiet street and includes office layouts originally designed for individual private attorney practices.
The property provides 15 parking spaces, including nine covered spaces, along with available street parking. It is located at 1890 Gaylord Street in Denver, approximately 250 feet from City Park and near downtown Denver. The building sits on a quiet street and includes office layouts originally designed for individual private attorney practices.
Key Highlights
- 18 private offices plus 6 open offices
- 15 parking spaces, including 9 covered, with street parking available
- Private landscaped courtyard with fountain and horseshoe‑shaped brick design
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
$132,982
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
4.51%
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%
$2,659,640
$2.7M
Cap Rate 7%
$1,899,743
$1.9M
Cap Rate 9%
$1,477,578
$1.5M
Market Conditions
NOI Build-Up for 9,076 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
$239.6K $26.40/SF
− Vacancy
−$62.3K −$6.86/SF
EGI
$177.3K $19.54/SF
− OpEx
−$44.3K −$4.88/SF
NOI
$133.0K $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%
$2,659,640
Cap Rate 7%
$1,899,743
Cap Rate 9%
$1,477,578
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.22M
NOI $132,982 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,245 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
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 - Horseshoe-shaped office property with private landscaped courtyard, reception area, conference rooms, storage, and dedicated parking.
Where is this office building located?
The property is located at 1890 Gaylord Street Denver, CO.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 18 private offices plus 6 open offices; 15 parking spaces, including 9 covered, with street parking available; Private landscaped courtyard with fountain and horseshoe‑shaped brick design
