Downtown Boulder Retail &
For Sale
Contact for pricing
1735-1737 15th St, Boulder, CO 80302
Classic building with exposed brick, wood timbers, and high ceilings.
Property Size7,758 SF
Lot Size0.33 Acres
Price / SF$580
Days on Market714
Property Features for 1735-1737 15th St
General Information
Standard status
Active
Size
7,758 SF
Total Parking Spaces
22
Lot size
0.33 Acres
Property subtype
Retail, Office
Zoning
DT-5
Building Details
Buildings
1
Stories
2
Listing Agency:
Gibbons-White Inc
(303) 442-1040
Listed By:
Michael-Ryan McCarty · License #CO FA.040029628
Source:
Crexi
Added: Sep 11, 2024
Changed: Aug 15
Last Checked: Aug 24 at 9:22AM
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 Gibbons-White Inc
Investment Insights
Based on property information with market context.
This classic downtown Boulder building offers both retail and office space. The property features exposed brick, beautiful wood timbers, and high ceilings. The second floor provides office space with flexible layout options, including a reception area, a large conference room, 10 offices, an open work area, a balcony, and views of the Flatirons. The property has direct access to the Boulder Creek Path and is located two blocks from Pearl Street Mall. Situated on a 0.33-acre site with DT-5 zoning, the property also includes a separate 338-square-foot storage building. There are 10 on-site parking spaces available at no cost, contributing to a total of 22 spaces for the building. The total property size is 7758 square feet.
Key Highlights
- Prime Downtown Boulder Location: Direct access to Boulder Creek Path and 2 blocks from Pearl Street Mall.
- Large 0.33 Acre Site: DT‑5 Zoning offers potential development opportunities.
- Unique Architectural Features: Exposed brick, beautiful wood timbers, and high ceilings.
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
$125,796
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
2.80%
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%
$2,515,920
$2.5M
Cap Rate 7%
$1,797,086
$1.8M
Cap Rate 9%
$1,397,733
$1.4M
Market Conditions
NOI Build-Up for 7,758 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
$214.1K $27.60/SF
− Vacancy
−$12.8K −$1.66/SF
EGI
$201.3K $25.94/SF
− OpEx
−$75.5K −$9.73/SF
NOI
$125.8K $16.22/SF
Area
Boulder, CO
Vacancy
6.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,515,920
Cap Rate 7%
$1,797,086
Cap Rate 9%
$1,397,733
Alternative Uses
Best Use
Mixed Use
$1.80M
$1.57M – $2.10M
NOI $125,796 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,511 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 80302, CO
27,322
Population
13,556
Households
2
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
93.9 sq mi
ZIP Area
291
Density / Sq Mi
$60,649
Median Household Income
$19,586
Median Earnings
$1,850
Median Rent
$1,123,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Classic building with exposed brick, wood timbers, and high ceilings.
Where is this mixed-use property located?
The property is located at 1735-1737 15th St Boulder, CO.
What is the asking price?
The asking price for this property is $4,499,640.
What are key features of this property?
This property features: Prime Downtown Boulder Location: Direct access to Boulder Creek Path and 2 blocks from Pearl Street Mall.; Large 0.33 Acre Site: DT‑5 Zoning offers potential development opportunities.; Unique Architectural Features: Exposed brick, beautiful wood timbers, and high ceilings.
