1165 S Pennsylvania St - Medical FOR SALE


Denver, CO 80210- Platt Park
$3,900,000 USD
303-748-8009
1165 S Pennsylvania St, Denver, CO for Sale
$3,900,000 USD
Medical - FOR SALE
1/22
null | Request Cap Rate

1165 S Pennsylvania St
Denver, CO 80210
Platt Park


OVERVIEW

RE/MAX Professionals is pleased to present The Penn, a rare, stabilized office investment in Denver's tightly held Platt Park neighborhood, a submarket where near-full occupancy is increasingly hard to find. At approximately 91% leased with a diversified, e-commerce-resistant tenant base spanning healthcare, insurance, and professional services, the property offers an incoming investor the kind of income that most Denver office assets can no longer promise. Situated on a 0.56-acre site with commanding visibility from I-25 and exposure to more than 200,000 vehicles per day, The Penn sits just blocks from the Louisiana-Pearl Light Rail Station and the dining and retail energy of South Pearl Street, steps from Washington Park, the University of Denver, and Downtown. Zoned U-MS-3, the site carries the flexibility to serve as office, medical, mixed-use, or owner-user space today, with long-term redevelopment upside as the corridor continues to densify. Current rents average $33.46 PSF against a $35.63 PSF market rate, with staggered lease expirations and built-in escalations providing a clear path to income growth as the vacant suite leases up and renewals roll to market. For an investor seeking infill Denver exposure without the vacancy risk defining much of the metro's office stock, The Penn offers a rare combination of occupancy, location, and upside.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$250 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Penn

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

U-MS-3

APN/PARCEL ID

5221-04-031

ASK ABOUT THIS PROPERTY

Damon L ChavezRE/MAX ProfessionalsMore Info
303-748-8009

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Damon L ChavezRE/MAX ProfessionalsMore Info
303-748-8009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.