Listed by Pinnacle Real Estate Advisors
$1,900,000
1600 Penn
Details
Property Type Office
Sub Type Creative Office
Cap Rate 8.37%
NOI $159,043
Occupancy 100%
Tenancy Multi
Lease Type Gross
Lease Term 1
Lease Expiration 01/01/2027
Rent Bumps Yes
Lease Options 1 year rollover
Pro-Forma Cap Rate 8.37%
Pro-Forma NOI $159,043
Price per SqFt $275
Class C
Year Built 1925
Year Renovated 2022
Buildings 1
Stories 3
Lot Size (SqFt) 4,012
Zoning C-MX-5
Investment Type Stabilized
Tenant Credit No Credit Rating
Lease Commencement 01/01/2026
Ownership Penn 1600, LLC
Sale Condition For sale by owner
Office | 8.37% CAP
Marketing description
Classic “Denver Square” mansion built in the roaring 20’s by Frank Edbrooke who was the architect of the Brown Palace and Colorado State Capital. Formally a single tenant law office the present owner renovated the space including the garage and basement for Boutique offices (16 in total) in 2022-2023. The site is further enhanced by a private patio and garden and well as enhanced landscaping around the perimeter. Each unique office is fully furnished as is the common area with plants and art. This design and quiet atmosphere attract psychiatrists, therapy counselors, massage etc. The location at 16th and Pennsylvania is a 7–10-minute walk from the central business district.
Listing Contacts
Listed by Pinnacle Real Estate Advisors
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$159,043.00
$13,253.58/mo
Valuation Metrics
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DSCR
8.37%
Cap Rate
8.37%
ROI
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