Office Unit with
For Sale
Contact for pricing
3528 Tejon St, Denver, CO 80211
Live/work office condominium with natural light, quality finishes, and convenient interstate access, subject to zoning permit.
Property Size1,359 SF
Price / SF$459.90
Days on Market224
Property Features for 3528 Tejon St
General Information
Standard status
Active
Size
1,359 SF
Class
A
Total Parking Spaces
3
Property subtype
Office
Zoning
U-MX-3 ZONING CONDUCIVE TO LIVE/WORK SUBJECT TO ZONING PERMIT
Additional Details
Furnished
No
HOA Fee
$443.54
Highway Access
Yes
Building Details
Year Built
2006
Stories
2
Listing Agency:
Benchmark Commercial Real Estate
Listed By:
Jason Bollhoefner · License #CO FA.040023622
(303) 395-0116
Source:
Crexi
Added: Jan 21
Changed: Aug 31
Last Checked: Aug 29 at 3:12PM
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 Benchmark Commercial Real Estate
Investment Insights
Based on property information with market context.
This 1,359 SF office condominium occupies a 2006 building with abundant natural light, quality finishes, off-street parking, and a design recognized with the Mayor’s Design Award. The unit is located at 3528 Tejon St. in Denver’s Highland neighborhood and includes two deeded parking spaces plus one visitor space.
U-MX-3 zoning is conducive to live/work use subject to zoning permit. The property provides access to I-25 and I-70 and sits within a walkable neighborhood setting with restaurants, coffee shops, and neighborhood services nearby. Herman Miller and Knoll furniture is available separately and may be negotiated as part of the transaction.
U-MX-3 zoning is conducive to live/work use subject to zoning permit. The property provides access to I-25 and I-70 and sits within a walkable neighborhood setting with restaurants, coffee shops, and neighborhood services nearby. Herman Miller and Knoll furniture is available separately and may be negotiated as part of the transaction.
Key Highlights
- 1,359 SF office condominium in a 2006 building
- U‑MX‑3 zoning conducive to live/work use, subject to zoning permit
- Two deeded parking spaces plus 1 visitor space
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
$19,912
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
3.19%
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%
$398,240
$398.2K
Cap Rate 7%
$284,457
$284.5K
Cap Rate 9%
$221,244
$221.2K
Market Conditions
NOI Build-Up for 1,359 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
$35.9K $26.40/SF
− Vacancy
−$9.3K −$6.86/SF
EGI
$26.5K $19.54/SF
− OpEx
−$6.6K −$4.88/SF
NOI
$19.9K $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%
$398,240
Cap Rate 7%
$284,457
Cap Rate 9%
$221,244
Alternative Uses
Best Use
Office B
$284.5K
$248.9K – $331.9K
NOI $19,912 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,283 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
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 units - Live/work office condominium with natural light, quality finishes, and convenient interstate access, subject to zoning permit.
Where is this office units located?
The property is located at 3528 Tejon St Denver, CO.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1,359 SF office condominium in a 2006 building; U‑MX‑3 zoning conducive to live/work use, subject to zoning permit; Two deeded parking spaces plus 1 visitor space
