Average asking rent by property type
Commercial rent in Colorado is quoted per square foot per year. These are metro wide averages from CoStar, current as of October 12, 2026.
| Property type | Average asking rent | Past year |
|---|---|---|
| Office | $31.13/SF | Up 1.8% |
| Retail | About $28.00/SF NNN | Up 1.1% |
| Flex | $16.12/SF | |
| Industrial (all sizes) | $11.69/SF | Down slightly |
| Industrial, buildings under 25,000 SF | About $14.20/SF |
Source: CoStar, via our Denver market research. Averages blend very different buildings, so use them as a starting point, not a quote.
Why your rent may be very different
Submarket
- Cherry Creek is the most expensive submarket for both office (about $46.66/SF) and retail (over $55/SF NNN)
- Platte River office is close behind at about $45.45/SF
- Older industrial space near Denver International Airport has leased for $7 to $8/SF NNN
Building and space size
- Small industrial and flex spaces rent for more per square foot than big distribution buildings
- New construction and freshly renovated space rents above the average
- Built out sublease office space can run about 30% below direct space
Asking rent is not what tenants pay
The asking rate is the headline. What a tenant actually pays over the term is usually lower once concessions are counted. In Denver office, tenants commonly receive about one month of free rent for each year of term plus a generous improvement package. Industrial tenants also have leverage right now, with deals taking longer to close and landlords offering bigger improvement packages. Annual rent increases in retail now average about 3%.
See how to negotiate a commercial lease in Colorado and what a tenant improvement allowance is.
Turn a quoted rate into a monthly cost
Multiply the rate by your square feet and divide by 12. If the rent is NNN, add the NNN charges too.
| Per SF per year | 2,000 SF per year | Per month | |
|---|---|---|---|
| Base rent | $28.00 | $56,000 | $4,667 |
| NNN estimate | $9.00 | $18,000 | $1,500 |
| Total | $37.00 | $74,000 | $6,167 |
Example only. Ask each landlord for the building's actual NNN estimate. See what triple net really costs each month.
Questions to ask about any quoted rent
- Is the rate NNN, modified gross or full service?
- What are this year's NNN or operating expense estimates?
- How much does the rent go up each year?
- How much free rent and improvement allowance comes with this term?
- What have similar spaces in this submarket actually leased for recently?
Common follow up questions
Is commercial rent in Denver quoted monthly or yearly?
Yearly, per square foot. A quote of $28 per square foot on 2,000 square feet is $56,000 a year, or about $4,667 a month, before any NNN charges.
Are Denver commercial rents going up or down?
It depends on the type. As of October 2026, CoStar shows office rents up 1.8% and retail up 1.1% over the past year, while industrial asking rents dipped slightly with more new space on the market.
Where is the most expensive commercial space in the Denver metro?
Cherry Creek, for both office and retail, followed by Platte River for office. Areas near Denver International Airport have some of the lowest industrial rents.
This page is general information, not lending, legal or tax advice. Programs, limits and terms change, and every situation is different. Talk with your lender, attorney and CPA before you decide.