Two-Unit Office Suite with
3445 Penrose Pl, Boulder, CO 80301
For Sale
New
Contact for pricing
A flexible office layout includes separate entrances, a remodeled kitchen, and covered reserved parking.
Property Size1,599 SF
Price / SF$387.12
Days on Market4
Property Features for 3445 Penrose Pl
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Office Units
Property Use
Amenities
Large Conference Room
Welcoming Reception Area
Recently Remodeled Kitchen
Vaulted Ceilings
Large South Facing Deck
Lots of Natural Light
Listing Agency:
Gibbons-White, Inc.
(303) 442-1040
Listed By:
Steve Sims · License #EA.001312310
Source:
Moodyscre
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 6 at 12:11PM
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.
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Investment Insights
Based on property information with market context.
Two legally separate condo units are combined into a 1,599-square-foot office suite with six private offices, a large conference room, reception area, and a recently remodeled kitchen. Separate entrances allow the spaces to be occupied together or independently. Vaulted ceilings and a south-facing deck add to the interior and outdoor work areas.
The property is near retailers and restaurants at 28th Street and Iris, including Vic’s Coffee, AOI Sushi, The Cork, and 24 Hour Fitness. Parking includes two reserved covered spaces, along with additional unreserved spaces.
The property is near retailers and restaurants at 28th Street and Iris, including Vic’s Coffee, AOI Sushi, The Cork, and 24 Hour Fitness. Parking includes two reserved covered spaces, along with additional unreserved spaces.
Key Highlights
- Two legal condo units combined into a 1,599‑square‑foot office suite
- Six private offices, a large conference room, reception, and remodeled kitchen
- Separate entrances allow the units to be used together or independently
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,479
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,580
$449.6K
Cap Rate 7%
$321,129
$321.1K
Cap Rate 9%
$249,767
$249.8K
Market Conditions
NOI Build-Up for 1,599 SF
Gross rent
$42.2K $26.40/SF
− Vacancy
−$12.2K −$7.66/SF
EGI
$30.0K $18.74/SF
− OpEx
−$7.5K −$4.69/SF
NOI
$22.5K $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 Rate 5%
$449,580
Cap Rate 7%
$321,129
Cap Rate 9%
$249,767
Alternative Uses
Best Use
Office B
$321.1K
$281.0K – $374.7K
NOI $22,479 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.3K
$472.8K – $630.4K
NOI $37,823 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 80301, CO
25,944
Population
12,644
Households
2.1
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
28.6 sq mi
ZIP Area
907
Density / Sq Mi
$92,974
Median Household Income
$52,325
Median Earnings
$1,999
Median Rent
$761,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in Boulder
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - A flexible office layout includes separate entrances, a remodeled kitchen, and covered reserved parking.
Where is this office unit located?
The property is located at 3445 Penrose Pl Boulder, CO.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two legal condo units combined into a 1,599‑square‑foot office suite; Six private offices, a large conference room, reception, and remodeled kitchen; Separate entrances allow the units to be used together or independently
