Renovated Office Building in
For Sale
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2941 W 19th Avenue, Denver, CO 80204
Recently renovated office building in vibrant Jefferson Park neighborhood.
Property Size5,964 SF
Price / SF$352.11
Days on Market100
Property Features for 2941 W 19th Avenue
General Information
Standard status
Active
Size
5,964 SF
Class
C
Total Parking Spaces
38
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1965
Units
38
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9552
Listed By:
Peter Sengelmann · License #CO FA.100043607
Source:
Crexi
Added: May 15
Changed: Aug 20
Last Checked: Aug 21 at 9:56PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This recently renovated standalone office building is located in an urban neighborhood. The 5,964 square foot property features on-site parking and natural light. The building is move-in ready and fully furnished with modern collaborative workstations. Situated in Jefferson Park, the building offers views of Empower Field and convenient access to Federal Boulevard, Colfax Avenue, Speer Boulevard, and I-25. A mix of restaurants, breweries, and retail options are located nearby. This property presents an owner-user opportunity.
Key Highlights
- Move‑in ready, fully furnished with modern collaborative workstations.
- Abundant on‑site parking.
- Recently renovated standalone 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
$87,385
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
4.16%
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%
$1,747,700
$1.7M
Cap Rate 7%
$1,248,357
$1.2M
Cap Rate 9%
$970,944
$970.9K
Market Conditions
NOI Build-Up for 5,964 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
$157.4K $26.40/SF
− Vacancy
−$40.9K −$6.86/SF
EGI
$116.5K $19.54/SF
− OpEx
−$29.1K −$4.88/SF
NOI
$87.4K $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%
$1,747,700
Cap Rate 7%
$1,248,357
Cap Rate 9%
$970,944
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.46M
NOI $87,385 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,899 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
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 - Recently renovated office building in vibrant Jefferson Park neighborhood.
Where is this office building located?
The property is located at 2941 W 19th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Move‑in ready, **fully furnished with modern collaborative workstations**.; Abundant on‑site parking.; Recently renovated standalone office building.
