Office Building with Updated
For Sale
Contact for pricing
665 Kalamath St, Denver, CO 80204
Office building on a large lot with updated HVAC and 3-phase power, offering direct access to major routes.
Property Size6,750 SF
Lot Size0.55 Acres
Price / SF$474.07
Days on Market532
Property Features for 665 Kalamath St
General Information
Standard status
Active
Size
6,750 SF
Lot size
0.55 Acres
Property subtype
OFFICE
Site & Location
Traffic Count
38,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Heavy Power
Yes
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9555
Listed By:
Carlos Valencia · License #100028140
(720) 638-5418
Source:
Moodyscre
Added: Apr 4, 2025
Changed: Sep 11
Last Checked: Sep 16 at 3:09PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This office building features updated HVAC and 3-phase power. The property sits on a large lot and is configured for business use.
The site offers direct access to I-25 and 6th Ave, with proximity to a light rail station less than a mile away. The surrounding area serves significant daily traffic.
With convenient transportation access and modern building systems, the property provides a practical option for an office tenant or buyer evaluating an in-city commercial location.
The site offers direct access to I-25 and 6th Ave, with proximity to a light rail station less than a mile away. The surrounding area serves significant daily traffic.
With convenient transportation access and modern building systems, the property provides a practical option for an office tenant or buyer evaluating an in-city commercial location.
Key Highlights
- Large .55‑acre lot with office building
- Updated HVAC and 3‑phase power
- Direct access to I‑25 and 6th Ave
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
$98,901
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
3.09%
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%
$1,978,020
$2.0M
Cap Rate 7%
$1,412,871
$1.4M
Cap Rate 9%
$1,098,900
$1.1M
Market Conditions
NOI Build-Up for 6,750 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
$178.2K $26.40/SF
− Vacancy
−$46.3K −$6.86/SF
EGI
$131.9K $19.54/SF
− OpEx
−$33.0K −$4.88/SF
NOI
$98.9K $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%
$1,978,020
Cap Rate 7%
$1,412,871
Cap Rate 9%
$1,098,900
Alternative Uses
Best Use
Office B
$1.41M
$1.24M – $1.65M
NOI $98,901 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,414 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
38,000 VPD
Traffic count
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 building - Office building on a large lot with updated HVAC and 3-phase power, offering direct access to major routes.
Where is this office building located?
The property is located at 665 Kalamath St Denver, CO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Large .55‑acre lot with office building; Updated HVAC and 3‑phase power; Direct access to I‑25 and 6th Ave
