Renovated Office Condo in
For Sale
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6454 South Quebec Street, Centennial, CO 80111
Fully renovated office condo with private entrances and ample parking.
Property Size2,800 SF
Price / SF$250
Days on Market959
Property Features for 6454 South Quebec Street
General Information
Standard status
Active
Size
2,800 SF
Class
B
Property subtype
Office
Zoning
BP35
Lease Type
NNN
Building Details
Stories
2
Tenancy
Single
Listing Agency:
Hoff & Leigh
(720) 572-5187
Listed By:
Lisa Langiewicz · License #FA.100094405
Source:
Crexi
Added: Jan 9, 2024
Changed: Aug 25
Last Checked: Aug 24 at 11:20AM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
This is a fully renovated office condominium located in Greenwood Village. The 2,800 square-foot property features a reception area, kitchenette, four private offices, and a lower-level bullpen space. It includes private outside entrances, vaulted ceilings, mature landscaping, and numerous windows. An abundance of parking is available. The property is located in close proximity to a variety of restaurants and within walking distance of both Fiddlers Green and Pindustry. The property's taxes are $8,889.96 per year, and the OA is $416 per month. The property is located in Centennial, Colorado.
Key Highlights
- Fully renovated office condo
- Prime location in Greenwood Village, walking distance to Fiddlers Green and Pindustry, close to restaurants
- Includes reception area, kitchenette, 4 private offices, and lower‑level bullpen 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
$35,381
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
5.05%
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%
$707,620
$707.6K
Cap Rate 7%
$505,443
$505.4K
Cap Rate 9%
$393,122
$393.1K
Market Conditions
NOI Build-Up for 2,800 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
$60.5K $21.60/SF
− Vacancy
−$13.3K −$4.75/SF
EGI
$47.2K $16.85/SF
− OpEx
−$11.8K −$4.21/SF
NOI
$35.4K $12.64/SF
Area
Centennial, CO
Vacancy
22.00%
Lease Rate
$21.60 /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%
$707,620
Cap Rate 7%
$505,443
Cap Rate 9%
$393,122
Alternative Uses
Best Use
Office B
$505.4K
$442.3K – $589.7K
NOI $35,381 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$679.2K
$594.3K – $792.4K
NOI $47,545 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 80111, CO
32,672
Population
13,668
Households
2.4
Avg Household Size
40
Median Age
75%
College-Educated
98%
High-School Grad
10.9 sq mi
ZIP Area
2,997
Density / Sq Mi
$132,292
Median Household Income
$71,898
Median Earnings
$2,063
Median Rent
$890,500
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?
Office units - Fully renovated office condo with private entrances and ample parking.
Where is this office units located?
The property is located at 6454 South Quebec Street Centennial, CO.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Fully renovated office condo; Prime location in Greenwood Village, walking distance to Fiddlers Green and Pindustry, close to restaurants; Includes reception area, kitchenette, 4 private offices, and lower‑level bullpen space
