Multi-Tenant Office
For Sale
$1,500,000
6610 Gunpark Dr, Boulder, CO 80301
Office property with individually metered utilities, multiple suites, and flexible occupancy configurations.
Property Size6,595 SF
Price / SF$227.45
Days on Market16
Property Features for 6610 Gunpark Dr
General Information
Standard status
Active
Size
6,595 SF
Class
B
Total Parking Spaces
22
Property subtype
Office
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Building Size
6,595 SF
Year Built
1999
Tenancy
Multi
Parking Ratio
3.18 per 1,000 SF
Listing Agency:
Unique Properties LLC
(303) 321-5888
Listed By:
Marc S. Lippitt · License #ER.000183921
Source:
Uniqueprop
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 2:52PM
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 Unique Properties LLC
Investment Insights
Based on property information with market context.
Built in 1999, this 6,595-square-foot office building is arranged for multiple occupants and currently serves six tenants. Suite sizes range from 400 SF to 2,350 SF, providing a varied configuration within the property. Electric and gas are individually metered, and the building has remained fully occupied since 2012. Ownership has maintained the improvements, while shorter-term leases offer flexibility for future rent adjustments or owner occupancy. Future condo conversion for owners is also identified as a potential path.
The property is located in Gunbarrel with immediate access to Diagonal Highway. On-site parking includes 22 spaces, or 3.18 spaces per 1,000 SF. The smaller suite layouts and multiple-tenant arrangement provide distinct occupancy options within the office building.
The property is located in Gunbarrel with immediate access to Diagonal Highway. On-site parking includes 22 spaces, or 3.18 spaces per 1,000 SF. The smaller suite layouts and multiple-tenant arrangement provide distinct occupancy options within the office building.
Key Highlights
- 6,595‑square‑foot office building built in 1999
- Six current tenants with zero vacancy since 2012
- Suite sizes range from 400 SF to 2,350 SF
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
$92,713
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
6.18%
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%
$1,854,260
$1.9M
Cap Rate 7%
$1,324,471
$1.3M
Cap Rate 9%
$1,030,144
$1.0M
Market Conditions
NOI Build-Up for 6,595 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
$174.1K $26.40/SF
− Vacancy
−$50.5K −$7.66/SF
EGI
$123.6K $18.74/SF
− OpEx
−$30.9K −$4.69/SF
NOI
$92.7K $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 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%
$1,854,260
Cap Rate 7%
$1,324,471
Cap Rate 9%
$1,030,144
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.55M
NOI $92,713 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,001 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
942
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with individually metered utilities, multiple suites, and flexible occupancy configurations.
Where is this office building located?
The property is located at 6610 Gunpark Dr Boulder, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,595‑square‑foot office building built in 1999; Six current tenants with zero vacancy since 2012; Suite sizes range from 400 SF to 2,350 SF
