Updated Brick
New
For Sale
$880,000
1011 Adams St, Denver, CO 80206
Finished lower-level space adds two bedrooms and a second living area to the property.
Property Size2,588 SF
Days on Market4
Property Features for 1011 Adams St
General Information
Standard status
Active
Size
2,588 SF
Total Parking Spaces
1
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,002
Amenities
covered front porch
fireplace
built-ins
exposed brick
fenced yard
patio
Building Details
Building Size
2,588 SF
Year Built
1922
Construction
brick
Listing Agency:
Milehimodern
Listed By:
Paula Friedman
(303) 919-9016
Source:
Guidere
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Milehimodern
Investment Insights
Based on property information with market context.
This 1922 brick duplex features hardwood flooring, a tiled fireplace, built-in dining-room storage and an updated kitchen with stainless steel appliances and an eat-in nook. The finished basement includes two bedrooms and an additional living area. Outside, the property has a fenced yard, patio, covered front porch and detached one-car garage.
The property is in Denver’s Congress Park neighborhood, with restaurants and shops described as a short walk away.
The property is in Denver’s Congress Park neighborhood, with restaurants and shops described as a short walk away.
Key Highlights
- 1922 brick duplex
- Finished basement with two bedrooms and a second living area
- Updated kitchen with stainless steel appliances and an eat‑in nook
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,009
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,180
$860.2K
Cap Rate 7%
$614,414
$614.4K
Cap Rate 9%
$477,878
$477.9K
Market Conditions
NOI Build-Up for 2,588 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.2K $25.20/SF
− Vacancy
−$3.8K −$1.46/SF
EGI
$61.4K $23.74/SF
− OpEx
−$18.4K −$7.12/SF
NOI
$43.0K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,180
Cap Rate 7%
$614,414
Cap Rate 9%
$477,878
Alternative Uses
Best Use
Multifamily LT 5
$614.4K
$537.6K – $716.8K
NOI $43,009 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$561.4K
$491.2K – $654.9K
NOI $39,295 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$823.9K
$720.9K – $961.2K
NOI $57,670 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Finished lower-level space adds two bedrooms and a second living area to the property.
Where is this duplex located?
The property is located at 1011 Adams St Denver, CO.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: 1922 brick duplex; Finished basement with two bedrooms and a second living area; Updated kitchen with stainless steel appliances and an eat‑in nook
