Renovated Office Building in
For Sale
Contact for pricing
2145 S Clermont St, Denver, CO 80222
Recently renovated office building in University Hills/Colorado Boulevard corridor.
Property Size5,214 SF
Lot Size0.14 Acres
Price / SF$278.10
Days on Market152
Property Features for 2145 S Clermont St
General Information
Standard status
Active
Size
5,214 SF
Lot size
0.14 Acres
Property subtype
Office
Zoning
C-MX-5
Investment Type
Value Add
Building Details
Year Built
1959
Year Renovated
2025
Buildings
1
Stories
2
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2020
Listed By:
Brandon Kramer · License #CO FA100045203
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 21 at 5:59PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
The property at 2145 South Clermont Street is a 5,214-square-foot office building, renovated in 2025, situated on 0.14 acres (6,169 land square feet) in the University Hills / Colorado Boulevard corridor of Southeast Denver. The property is suitable for an owner-user, investor, or adaptive reuse. The asset benefits from C-MX-5 zoning, allowing for redevelopment potential and future mixed-use possibilities. The property is near Interstate 25, Colorado Boulevard, and Evans Avenue, offering accessibility between Downtown Denver and the Denver Tech Center. The surrounding corridor is experiencing residential, retail, and mixed-use development due to its proximity to Colorado Station light rail, the University of Denver, and the University Hills area. This portion of the Colorado Boulevard corridor has become a growth area, connecting several of Denver’s neighborhoods while benefiting from retail demand, residential development, and transit-oriented planning that supports population and employment growth.
Key Highlights
- Recently renovated (2025) 5,214 SF office building in the University Hills/Colorado Boulevard corridor.
- Located in a dynamic growth area with strong retail demand and continued residential development.
- C‑MX‑5 zoning allows for flexible redevelopment potential and future mixed‑use possibilities.
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
$76,396
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
5.27%
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%
$1,527,920
$1.5M
Cap Rate 7%
$1,091,371
$1.1M
Cap Rate 9%
$848,844
$848.8K
Market Conditions
NOI Build-Up for 5,214 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
$137.6K $26.40/SF
− Vacancy
−$35.8K −$6.86/SF
EGI
$101.9K $19.54/SF
− OpEx
−$25.5K −$4.88/SF
NOI
$76.4K $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%
$1,527,920
Cap Rate 7%
$1,091,371
Cap Rate 9%
$848,844
Alternative Uses
Best Use
Office B
$1.09M
$955.0K – $1.27M
NOI $76,396 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,186 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,928
Businesses Nearby
Explore this area
Business Placement
Demographics for 80222, CO
22,381
Population
11,625
Households
1.9
Avg Household Size
38
Median Age
57%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,890
Density / Sq Mi
$85,354
Median Household Income
$57,833
Median Earnings
$1,715
Median Rent
$596,300
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office building in University Hills/Colorado Boulevard corridor.
Where is this office building located?
The property is located at 2145 S Clermont St Denver, CO.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Recently renovated (2025) **5,214 SF office building** in the University Hills/Colorado Boulevard corridor.; Located in a dynamic growth area with strong retail demand and continued residential development.; C‑MX‑5 zoning allows for flexible redevelopment potential and future mixed‑use possibilities.
