Multi-Tenant Medical Office
For Sale
Contact for pricing
820 CLERMONT ST, Denver, CO 80220
Class B healthcare property with renovated building systems, covered parking, and newly completed suites available for occupancy.
Property Size14,560 SF
Price / SF$171.63
Days on Market134
Property Features for 820 CLERMONT ST
General Information
Standard status
Active
Size
14,560 SF
Property subtype
Office
Investment Type
Value Add
Building Details
Year Built
1971
Stories
3
Units
43
Listing Agency:
Marcus & Millichap - Denver
(303) 328-2020
Listed By:
Brandon Kramer · License #CO FA100045203
Source:
Crexi
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 31 at 7:51AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This Class B medical office property contains 14,560 square feet in a multi-tenant configuration on 0.25 acres. Constructed in 1971, the building has received a new roof in 2023, HVAC upgrades, elevator renovations, reinforced parking infrastructure, and a new boiler/chiller installed in 2026. Newly completed spec suites are available for immediate occupancy.
The property is located at 820 Clermont St in Denver, one block from Rose Medical Center. G-MX-3 zoning supports medical, office, and commercial uses. Parking includes 43 spaces, with 21 covered or underground spaces and 22 surface spaces, including 12 single and 10 tandem spaces.
The property is located at 820 Clermont St in Denver, one block from Rose Medical Center. G-MX-3 zoning supports medical, office, and commercial uses. Parking includes 43 spaces, with 21 covered or underground spaces and 22 surface spaces, including 12 single and 10 tandem spaces.
Key Highlights
- 14,560 SF Class B multi‑tenant medical office on 0.25 acres
- G‑MX‑3 zoning supports medical, office, and commercial uses
- New roof installed in 2023; new boiler/chiller installed in 2026
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
$213,333
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
8.54%
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%
$4,266,660
$4.3M
Cap Rate 7%
$3,047,614
$3.0M
Cap Rate 9%
$2,370,367
$2.4M
Market Conditions
NOI Build-Up for 14,560 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
$384.4K $26.40/SF
− Vacancy
−$99.9K −$6.86/SF
EGI
$284.4K $19.54/SF
− OpEx
−$71.1K −$4.88/SF
NOI
$213.3K $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%
$4,266,660
Cap Rate 7%
$3,047,614
Cap Rate 9%
$2,370,367
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,333 @ 7.0% cap · market cap 8.54%
Second Best
Healthcare Medical
$2.76M
$2.41M – $3.21M
NOI $192,891 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$4.63M
$4.06M – $5.41M
NOI $324,448 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
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?
Medical Office Space - Class B healthcare property with renovated building systems, covered parking, and newly completed suites available for occupancy.
Where is this medical office space located?
The property is located at 820 CLERMONT ST Denver, CO.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 14,560 SF Class B multi‑tenant medical office on 0.25 acres; G‑MX‑3 zoning supports medical, office, and commercial uses; New roof installed in 2023; new boiler/chiller installed in 2026
