NNN Office
For Sale
$4,800,000
413 S Ave 413 Arthur Ave 413, Louisville, CO 80027
Established office asset with central air and a lease structure designed to limit landlord obligations.
Property Size21,072 SF
Price / SF$227.79
Days on Market63
Property Features for 413 S Ave 413 Arthur Ave 413
General Information
Standard status
Active
Size
21,072 SF
Property subtype
Office
Additional Details
Cap Rate
7%
Amenities
Central Air
3
I
Level
65155.0
Sidewalks. Level.
Building Details
Year Built
1996
Listing Agency:
(303) 444-5040
Listed By:
Market Real Estate
(303) 444-5040
Source:
Xome
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 30 at 2:02AM
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 Market Real Estate
Investment Insights
Based on property information with market context.
Built in 1996, this 21,072-square-foot office property is configured as a stabilized NNN asset with central air. The current lease produces a 7% cap rate and remains in place through May 2028, providing an established operating framework for the next owner.
The property offers a future path for an owner-occupant after the existing lease term, while also supporting continued ownership as an income-producing office asset. The site is level and includes sidewalks, adding straightforward pedestrian access to the property setting.
The property offers a future path for an owner-occupant after the existing lease term, while also supporting continued ownership as an income-producing office asset. The site is level and includes sidewalks, adding straightforward pedestrian access to the property setting.
Key Highlights
- 7% cap rate from NNN income
- Lease term runs through May 2028
- 21,072 square feet of office 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
$280,072
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
5.83%
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%
$5,601,440
$5.6M
Cap Rate 7%
$4,001,029
$4.0M
Cap Rate 9%
$3,111,911
$3.1M
Market Conditions
NOI Build-Up for 21,072 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
$526.0K $24.96/SF
− Vacancy
−$152.5K −$7.24/SF
EGI
$373.4K $17.72/SF
− OpEx
−$93.4K −$4.43/SF
NOI
$280.1K $13.29/SF
Area
Boulder County, CO
Vacancy
29.00%
Lease Rate
$24.96 /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%
$5,601,440
Cap Rate 7%
$4,001,029
Cap Rate 9%
$3,111,911
Alternative Uses
Best Use
Office B
$4.00M
$3.50M – $4.67M
NOI $280,072 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.36M
$5.56M – $7.42M
NOI $445,041 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 80027, CO
34,413
Population
13,248
Households
2.6
Avg Household Size
40
Median Age
71%
College-Educated
98%
High-School Grad
18.6 sq mi
ZIP Area
1,850
Density / Sq Mi
$153,165
Median Household Income
$70,617
Median Earnings
$2,234
Median Rent
$822,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Established office asset with central air and a lease structure designed to limit landlord obligations.
Where is this nnn property located?
The property is located at 413 S Ave 413 Arthur Ave 413 Louisville, CO.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 7% cap rate from NNN income; Lease term runs through May 2028; 21,072 square feet of office space
