The Penn 1165 S Pennsylvania St 15,603 SF 91% Leased Office Building Denver, CO 80210 $3,900,000 ($249.95/SF)

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.