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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2639 Spruce St Boulder, CO 80302

    • Office buildings
    • 3,267 SF
    • 0.16 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2804991
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Resource Central: Office Headquarters / Charitable Organization / Social Service Agency
    • Wilde Brands / Food Processing Plant / Factory
    • madelife / Vocational School
    • Sendera Properties / Real Estate Agency

    Property Details for 2639 Spruce St

    Year built
    1978
    Construction
    STEEL FRAME
    Lot size
    0.16 lot acres
    Property size
    3,267 SF
    Zone code
    3110
    Property type
    Office buildings
    APN
    1463-29-2-10-012
    APU
    146329210012

    Description

    This exceptional 3,267-square-foot office and flex building presents a unique opportunity in the heart of Boulder, Colorado. Located at 2639 Spruce Street, this single-story property offers a versatile layout ideal for a variety of businesses. Currently fully vacant, the space boasts 13 private offices, providing ample room for individual work or team collaboration. A large conference room facilitates meetings and presentations, while a dedicated break room offers a comfortable space for employees. The open bullpen area provides flexibility for various work styles. The property also includes a significant advantage for businesses requiring shipping and receiving: a rear loading/shipping area equipped with a 10' x 12' grade-level overhead door. Parking is readily available with 4-5 spaces. The building's central Boulder location offers unparalleled convenience, within walking distance of the vibrant Pearl Street Mall and the 29th Street Mall, providing easy access to a wealth of amenities, restaurants, and retail options. This property is zoned for office and industrial use, making it suitable for a wide range of businesses. The property is available for sale or lease. The address is 2639 Spruce Street, Boulder, CO 80302.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $815,000
      6.5%
      $755,000
      7%
      $700,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Boulder
    County
    Boulder
    State
    Colorado
    Longitude
    -105.26
    Latitude
    40.0233
    CBSA code
    14500
    CBSA name
    BOULDER, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,624
    $154,008
    $139,500
    $293,508
    -
    $552,000
    $500,000
    $1,052,000

    Comparable in this City

    • Value Estimation
      $2,505,000
      14,205 SF

      1023 Walnut St

      OFFICE BUILDING • 14,205 SF
      1023 Walnut St, Boulder, CO 80302-5225
      View Details
    • Value Estimation
      $930,000
      4,732 SF

      1301 Walnut St

      OFFICE BUILDING • 4,732 SF
      1301 Walnut St, Boulder, CO 80302-5488
      View Details
    • Value Estimation
      $4,625,000
      25,246 SF

      1650 Cyn Blvd

      OFFICE BUILDING • 25,246 SF
      1650 Cyn Blvd, Boulder, CO 80302
      View Details
    • Value Estimation
      $1,935,000
      10,739 SF

      2336 Cyn Blvd

      OFFICE BUILDING • 10,739 SF
      2336 Cyn Blvd, Boulder, CO 80302-5618
      View Details
    • Value Estimation
      $3,690,000
      21,377 SF

      2101 Pearl St

      OFFICE BUILDING • 21,377 SF
      2101 Pearl St, Boulder, CO 80302-4552
      View Details
    • Value Estimation
      $850,000
      6,000 SF

      805 Walnut St

      OFFICE BUILDING • 6,000 SF
      805 Walnut St, Boulder, CO 80302-5034
      View Details

    Similar Nearby for Sale

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      Downtown Boulder Office Building

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    • $4,499,640
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      Boulder Office & Retail Gem

      Classic Downtown Boulder building, 7,758 sq ft, 22 parking spaces.
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      Downtown Boulder Office Space

      Modern office space with Flatirons views in Downtown Boulder.
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    • $400,000
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      North Boulder Office Space

      Office space for sale in North Boulder, 734 square feet.
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    Similar Nearby for Lease

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      7,758 SF

      Downtown Boulder Office/Retail Gem

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      View Details
    • $15 SF/Yr
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      Canyon Blvd Creative Office Space

      Modern Office Suite, Stunning Views, Boulder
      207 Canyon Blvd, Boulder, CO 80302
      View Details
    • $1.00 SF/Yr
      7,355 SF

      Prime Pearl Street Office Space

      Executive Suites, 4,171 sq ft Available
      1615 Pearl St, Boulder, CO 80302
      View Details
    • Contact for pricing
      4,045 SF

      Downtown Boulder Creative Office Space

      Historic building, prime location, flexible suites.
      1105 Spruce St, Boulder, CO 80302
      View Details
    • $26 SF/Yr
      76,800 SF

      WaterStreet Plaza: Office Space for Lease

      Prime Canyon Blvd Office Building, Abundant Parking
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      View Details
    • $850 /Mo
      368 SF

      Downtown Boulder Office Suite

      Office suite in downtown Boulder with common waiting area.
      1916-1922 13Th St, Boulder, CO 80302
      View Details
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    Boulder, CO 80302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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