Properties Listed in Denver, CO

Commercial Real Estate in Denver, CO

Denver is Colorado's largest commercial real estate market. Office, industrial, retail, multifamily, medical and hospitality property all trade here, bought and leased by institutional investors, local owners, owner-users and tenants.

This page is a guide to the Denver market for buyers, sellers, investors and tenants: property types, submarkets, current vacancy, zoning, taxes and financing. RMCRE's brokers work Colorado's mountain towns and the Western Slope, and many of their buyers, sellers and 1031 investors come from Denver.

Denver is a consolidated city and county. The U.S. Census Bureau estimated its population at 740,613 on July 1, 2025 (Census QuickFacts). Denver International Airport reported a record 82.4 million passengers in 2025.

Denver Commercial Real Estate Market in 2026

The Denver commercial property market in 2026 is split by sector. Retail space is tight, apartments are close to balanced, industrial vacancy is easing, and office vacancy remains high.

Research firms track different sets of buildings, so their figures for the same quarter can differ. Compare a property with a source that covers its class and submarket, and treat every figure as a market average, not an appraisal of one building.

Denver commercial real estate trends

• Office: Cushman & Wakefield tied the Q3 2026 rise in vacancy to move-outs downtown. Leasing still improved year over year, and the Southeast submarket posted its fourth straight quarter of positive absorption, per CBRE.
• Industrial: CBRE recorded about 1.4 million square feet of positive net absorption in Q3 2026, with direct vacancy unchanged at 8.3%.
• Retail: At 4.5% vacancy, well-located retail space has few openings, which supports rents and values for leased centers.
• Multifamily: Occupancy dipped in the quarter but stayed above its level a year earlier.

Denver commercial real estate cap rates by property type

A cap rate is a property's net operating income divided by its price. In Denver, as across the U.S., apartments and well-leased retail and industrial usually trade at lower cap rates than office, because office buyers price in vacancy, leasing costs and longer lease-up times. Published Denver cap rates differ widely between research firms in the same quarter, so ask for recent comparable sales of the same class and submarket before you rely on any average.

To screen a Denver deal quickly, divide the trailing 12 months of NOI by the asking price and compare the result with recent sales of similar buildings. A cap rate well above its peers usually signals a risk, such as short leases or deferred repairs. For how cap rates are built and how Colorado towns compare, read Colorado cap rates by property type.

Denver Commercial Property for Sale and Lease

Most Denver commercial property for sale and lease falls into the types below. Each one has its own buyers, lenders and checks.

Denver office space for lease and sale

Denver office space ranges from downtown towers to suburban buildings in the Southeast submarket and small owner-user offices. With metro vacancy above 25%, tenants have leverage: landlords compete with concessions, tenant improvement money and flexible terms. Buyers of office buildings for sale should model lease-up time, sublease competition and the cost of re-tenanting, not just today's rent roll. See office property.

Denver industrial property and warehouses for sale

Industrial covers warehouses, distribution centers, manufacturing buildings, flex space and refrigeration and cold storage property. Buyers and tenants should check clear height, dock and drive-in loading, power, yard space, truck access to I-70, I-25 and I-270, and whether the zoning allows the intended use. Cold storage adds the age and capacity of the refrigeration system and its power cost. See industrial property.

Denver retail space for sale and lease

With vacancy near 4.5%, Denver retail space for lease is tight. Storefront properties, shops and neighborhood shopping centers anchored by daily-needs tenants draw both investors and owner-users. Retail buyers should read every lease for term, renewal options, co-tenancy clauses and who pays common area costs. Gas stations, car washes and other automotive property add environmental checks: ask for a Phase I environmental report and records of any underground tanks. See retail property.

Denver medical office and healthcare property

Medical offices for sale and for lease in Denver draw physician, dental and therapy practices buying their own space, and investors who want long leases with healthcare tenants. Check plumbing, power, parking ratios, accessibility, and whether the zoning allows the clinical use. A practice buying its building can often finance it with an owner-occupied loan. See medical office property.

Denver self storage facilities for sale

Self storage facilities are among the most searched Denver property types. A storage facility is valued on its income, so the key checks are physical and economic occupancy, the gap between street rates and in-place rents, expense history, and new facilities planned or under construction within a few miles. Verify occupancy from the management software, not a summary sheet. Read buying a self storage facility in Colorado and see storage property.

Denver hotels, motels and bed and breakfasts for sale

Denver hotels for sale range from downtown full-service hotels to airport and highway motels and small bed and breakfasts. Demand is tied to conventions, business travel and the airport. A hotel is priced on its income, so ask for three years of profit and loss statements, STR or CoStar performance reports, the franchise agreement and any required property improvement plan. Read how to buy a hotel or motel in Colorado and see hotel and motel property.

Denver commercial land for sale and lease

Commercial land for sale in Denver ranges from infill lots in the central city to larger sites near the airport. Value depends on zoning, utilities, access and what the site development plan process will allow. Industrial land and pad sites need clear answers on drainage, water and sewer taps and impact fees before closing. Ground leases are an option for owners who want income without selling. See land.

Multifamily and special-purpose property

Denver apartment buildings, fourplexes and mobile home parks are priced mainly on rent rolls and operating costs, and usually trade at lower cap rates than office or retail. Special-purpose buildings such as funeral homes, theaters and bank branches sell to a smaller pool of buyers, so price them on replacement cost, the businesses that can use them and the cost of conversion. See multifamily and special-purpose property.

Where Is Denver's Commercial Property?

• Downtown and the central city: the office core, LoDo and the surrounding mixed-use neighborhoods. Office vacancy is highest here, which also creates conversion and redevelopment opportunities.
• Cherry Creek: boutique office, high-end retail and hotels.
• Southeast and the Denver Tech Center: the largest suburban office market, along I-25 in Greenwood Village and Centennial. CBRE put Southeast vacancy at 25.9% in Q3 2026.
• The I-70 and I-270 corridors: Denver's central industrial belt of warehouses, distribution and service buildings.
• The airport area: industrial, hotel and development land near Denver International Airport.

South on I-25, Colorado Springs is the next large Front Range market.

Buying, Selling or Leasing Commercial Property in Denver

How to evaluate a Denver commercial property

Early-stage deal screening in Denver should answer five questions before you pay for full due diligence:

1. Is the income real? Use the trailing 12 months and the rent roll, not the seller's pro forma.
2. How does the cap rate compare? Check it against recent sales of the same class in the same submarket.
3. How long are the leases? In office especially, near-term expirations drive value more than today's rent.
4. What will taxes be after the sale? A sale can reset the assessed value and the tax bill.
5. Does the zoning fit the plan? Confirm the use before you write an offer.

Then work through a commercial real estate due diligence checklist.

Zoning and permits

Denver's Community Planning and Development department administers the Denver Zoning Code. Every business needs a zoning use permit, and changing a use, such as turning a store into a restaurant, needs a new one. New commercial buildings and major additions go through site development plan review. A zoning permit expires 180 days after issue unless a building permit follows or the use is established (Denver commercial zoning permits).

Sales tax and property tax

Denver's combined sales tax rate is 9.15%: 5.15% city, 2.9% state, 1% RTD and 0.1% Scientific and Cultural Facilities District (City and County of Denver rate sheet). Prepared food and some other items carry different rates. For property tax, Colorado assesses most commercial property at 25% of actual value for 2026, and most other nonresidential property, such as vacant land and industrial, at 26%. Property tax is an operating expense, so it flows straight into NOI and value.

Opportunity Zones in Denver

Ten Denver census tracts were designated Opportunity Zones in 2018. In 2026 Colorado submitted 91 census tracts for the next round, and Denver's mayor said every eligible neighborhood along the Mile High Line was nominated. Federal designation was still pending at the time of writing. Read Opportunity Zones in Colorado.

Financing and 1031 exchanges

Owner-users buying a Denver building for their own business often use an SBA 504 loan, which can lower the down payment; see SBA 504 loans in Colorado. Investors selling a Denver property at a gain can defer the tax with a 1031 exchange, which requires a qualified intermediary, a 45-day identification period and a 180-day closing deadline; see 1031 exchange in Colorado.

Working With RMCRE From Denver

Rocky Mountain Commercial Real Estate (RMCRE) is a network of independent commercial brokers working together since 2010 in Colorado's mountain towns and on the Western Slope. Denver owners and investors use the network to buy, sell or exchange into those markets, where local knowledge of each town's buyers, zoning and seasonality matters.

1031 exchanges from Denver into mountain and Western Slope property

A Denver office, warehouse or apartment building can be exchanged for any U.S. real property held for investment, including a retail building in a resort town or an industrial building in Grand Junction. The 45-day window is short in smaller markets, so line up a broker in the replacement market before the Denver sale closes. RMCRE brokers report these town-wide commercial cap rates for 2026:

Mesa County sales volume rose 15.5% to $109.6 million through June 30, 2026, per RMCRE's Mesa County Q2 YTD 2026 market update. More on the Western Slope's largest market is on the Grand Junction page.

What RMCRE brokers help Denver clients with

• Buying investment, owner-user or development property in a mountain or Western Slope town.
• Selling a mountain-town or Western Slope property owned from Denver.
• Finding replacement property for a 1031 exchange and meeting the 45-day deadline.
• Market analysis and valuation through RMCRE investment services.

For healthcare property, RMCRE reviewed a healthcare demand system at its August 2026 quarterly meeting that compares supply and demand by medical specialty and was described as live in the Denver metro (RMCRE August 2026 quarterly meeting).

Browse current listings across the network in the RMCRE property search, or contact RMCRE to reach the broker in the town you are considering.

Denver Commercial Real Estate FAQ

What are cap rates for Denver commercial real estate?

Denver cap rates depend on the property type, and published averages differ between research firms. Apartments and well-leased retail and industrial usually trade at lower rates than office. For a specific building, compare its NOI and price with recent sales of the same class in the same submarket.

What is the Denver office vacancy rate?

Metro Denver office vacancy was 27.1% in Q3 2026, according to Cushman & Wakefield. The Southeast submarket, which includes the Denver Tech Center, was at 25.9%, per CBRE. Leasing activity rose to 2.8 million square feet in the quarter, per Savills.

What is the industrial vacancy rate in Denver?

CBRE put metro Denver industrial vacancy at 8.6% in Q3 2026, down 10 basis points from the prior quarter. Net absorption was positive at about 1.4 million square feet.

Can I 1031 exchange a Denver property into a mountain-town property?

Yes. Any U.S. real property held for business or investment is like-kind to any other, so a Denver building can be exchanged for mountain-town or Western Slope commercial property or land. You must identify the replacement within 45 days and close within 180 days, through a qualified intermediary.

What is the sales tax rate in Denver?

Denver's combined sales tax rate is 9.15%, made up of the 5.15% city rate, 2.9% state rate, 1% RTD tax and 0.1% cultural district tax. Prepared food and drink and a few other items are taxed at different rates.

Are there Opportunity Zones in Denver?

Yes. Denver has ten Opportunity Zone tracts from the 2018 round. In 2026 Colorado nominated more tracts, including Denver neighborhoods along the Mile High Line, and the new round was awaiting federal designation at the time of writing.