Office Building Near Denver Central
For Sale
Contact for pricing
2641 Walnut St, Denver, CO 80205
Denver office property sits alongside restaurants, breweries, coffee shops, and other food-and-beverage businesses.
Property Size8,645 SF
Price / SF$508.96
Days on Market554
Property Features for 2641 Walnut St
General Information
Standard status
Active
Size
8,645 SF
Property subtype
OFFICE
Listing Agency:
The Grant Real Estate Company
Listed By:
Aaron Grant · License #100030812
(303) 324-3320
Source:
Moodyscre
Added: Feb 25, 2025
Changed: Aug 31
Last Checked: Sep 2 at 12:50AM
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 The Grant Real Estate Company
Investment Insights
Based on property information with market context.
This Denver office property contains 8,645 square feet and is positioned next to Denver Central Market. The surrounding business mix includes restaurants, breweries, coffee shops, cider producers, a craft winery, and food halls.
Nearby named destinations include Los Chingones, Work & Class, Snarf’s Sandwich, Crema Coffee House, Shake Shack, Ratio Beerworks, Hop Alley, Great Divide, and Zeppelin Station. The property is also near The Source and The Source Hotel, providing an established food, beverage, and hospitality setting around the office building.
Nearby named destinations include Los Chingones, Work & Class, Snarf’s Sandwich, Crema Coffee House, Shake Shack, Ratio Beerworks, Hop Alley, Great Divide, and Zeppelin Station. The property is also near The Source and The Source Hotel, providing an established food, beverage, and hospitality setting around the office building.
Key Highlights
- 8,645‑square‑foot office property in Denver
- Next to Denver Central Market
- Near The Source and The Source Hotel
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
$126,667
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
2.88%
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%
$2,533,340
$2.5M
Cap Rate 7%
$1,809,529
$1.8M
Cap Rate 9%
$1,407,411
$1.4M
Market Conditions
NOI Build-Up for 8,645 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
$228.2K $26.40/SF
− Vacancy
−$59.3K −$6.86/SF
EGI
$168.9K $19.54/SF
− OpEx
−$42.2K −$4.88/SF
NOI
$126.7K $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%
$2,533,340
Cap Rate 7%
$1,809,529
Cap Rate 9%
$1,407,411
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,667 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,641 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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 - Denver office property sits alongside restaurants, breweries, coffee shops, and other food-and-beverage businesses.
Where is this office building located?
The property is located at 2641 Walnut St Denver, CO.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 8,645‑square‑foot office property in Denver; Next to Denver Central Market; Near The Source and The Source Hotel
