Boulder Mixed-Use Development
For Sale
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2905-2935 Baseline Rd, Boulder, CO 80303
BT-1-zoned infill land with existing retail and office improvements near the University of Colorado Boulder campus.
Property Size74,902 SF
Price / SF$165.55
Days on Market77
Property Features for 2905-2935 Baseline Rd
General Information
Standard status
Active
Size
74,902 SF
Property subtype
LAND
Listing Agency:
Gibbons-White, Inc.
(303) 818-7688
Listed By:
Michael-Ryan McCarty · License #FA.040029628
(303) 818-7688
Source:
Moodyscre
Added: Jun 10
Changed: Aug 21
Last Checked: Aug 24 at 6:53AM
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 Gibbons-White, Inc.
Investment Insights
Based on property information with market context.
This 74,902-square-foot commercial land assemblage includes a 4,990-square-foot retail building and a 14,397-square-foot office building. The property is zoned BT-1 (Business-Transitional 1), supporting high-density multifamily and mixed-use development. A concept plan feasibility study outlines 66 units, 246 beds, 87,725 net square feet, 104,625 gross square feet, and 66 parking spaces.
The site is positioned at US 36 and Baseline Rd near the University of Colorado Boulder campus. Existing retail and office improvements provide covered-land income through entitlements, while the location includes prominent signage and immediate highway access.
The site is positioned at US 36 and Baseline Rd near the University of Colorado Boulder campus. Existing retail and office improvements provide covered-land income through entitlements, while the location includes prominent signage and immediate highway access.
Key Highlights
- 74,902‑square‑foot commercial land assemblage
- BT‑1 zoning supports high‑density multifamily and mixed‑use development
- Existing 4,990‑square‑foot retail building and 14,397‑square‑foot office building
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
$1,052,972
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
8.49%
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%
$21,059,440
$21.1M
Cap Rate 7%
$15,042,457
$15.0M
Cap Rate 9%
$11,699,689
$11.7M
Market Conditions
NOI Build-Up for 74,902 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
$1.98M $26.40/SF
− Vacancy
−$573.4K −$7.66/SF
EGI
$1.40M $18.74/SF
− OpEx
−$351.0K −$4.69/SF
NOI
$1.05M $14.06/SF
Area
Boulder, CO
Vacancy
29.00%
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%
$21,059,440
Cap Rate 7%
$15,042,457
Cap Rate 9%
$11,699,689
Alternative Uses
Best Use
Retail
$17.65M
$15.44M – $20.59M
NOI $1,235,389 @ 7.0% cap · market cap 9.96%
Second Best
Office B
$15.04M
$13.16M – $17.55M
NOI $1,052,972 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$25.31M
$22.15M – $29.53M
NOI $1,771,762 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 80303, CO
25,328
Population
12,583
Households
2
Avg Household Size
32
Median Age
79%
College-Educated
99%
High-School Grad
21.9 sq mi
ZIP Area
1,157
Density / Sq Mi
$77,344
Median Household Income
$31,661
Median Earnings
$1,833
Median Rent
$941,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - BT-1-zoned infill land with existing retail and office improvements near the University of Colorado Boulder campus.
Where is this commercial land located?
The property is located at 2905-2935 Baseline Rd Boulder, CO.
What is the asking price?
The asking price for this property is $12,400,000.
What are key features of this property?
This property features: 74,902‑square‑foot commercial land assemblage; BT‑1 zoning supports high‑density multifamily and mixed‑use development; Existing 4,990‑square‑foot retail building and 14,397‑square‑foot office building
