Ground-Floor Retail Suite on
For Sale
$650,000
1020 15th Street Unit 1V, Denver, CO 80202
Retail, showroom, or creative office space with potential for restaurant.
Property Size2,394 SF
Price / SF$271.51
Days on Market108
Property Features for 1020 15th Street Unit 1V
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Retail
Building Details
Building Size
2,394 SF
Year Built
1967
Listing Agency:
(720) 840-3960
Listed By:
Elizabeth M. Leder, Esq.
(720) 840-3960
Source:
Svn
Added: May 14
Changed: Aug 23
Last Checked: Aug 29 at 7:51AM
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 Elizabeth M. Leder, Esq.
Investment Insights
Based on property information with market context.
This ground-floor retail suite offers high visibility with street-to-ceiling windows and tall ceilings, creating a bright, modern space suitable for retail, showroom, creative office, or service-based businesses. The property offers the ability to add an in-suite bathroom or build out a full commercial kitchen, providing potential for restaurant or café use. The 2,394 square foot space is located on 15th Street, near the reopened 16th Street Mall. Residents of the Brooks Tower condominium live directly above, contributing to a built-in customer base, with 35,000 downtown residents in the immediate trade area. The flexible floor plan is enhanced by street-to-ceiling windows and tall ceilings. Ownership includes access to amenities such as a pool, lounge deck, fitness center, billiards room, and conference facilities. The property benefits from strong co-tenancy with businesses such as 7-Eleven, Salon Moda Capelli, Tip-to-Toe, and ACE Hardware on-site. DPAC, The Curtis, and 16th Street are located nearby. The Downtown Denver Partnership provides support to new owners, including assistance with tax credit applications through Denver's Business Investment Program.
Key Highlights
- Prime ground‑floor retail space with exceptional visibility and street‑to‑ceiling windows.
- Flexible floor plan with the ability to easily add an in‑suite bathroom or full commercial kitchen.
- Priced to sell at $750,000 for 2,394 SF of ground‑floor retail ownership.
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
$32,771
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
5.04%
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%
$655,420
$655.4K
Cap Rate 7%
$468,157
$468.2K
Cap Rate 9%
$364,122
$364.1K
Market Conditions
NOI Build-Up for 2,394 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
$49.1K $20.52/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$46.8K $19.56/SF
− OpEx
−$14.0K −$5.87/SF
NOI
$32.8K $13.69/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /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%
$655,420
Cap Rate 7%
$468,157
Cap Rate 9%
$364,122
Alternative Uses
Best Use
Retail
$468.2K
$409.6K – $546.2K
NOI $32,771 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$762.1K
$666.8K – $889.1K
NOI $53,347 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,121
Businesses Nearby
295k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 73%
Dining 19%
Apparel 6%
Shops & Services 2%
Embassy Suites By Hilton Denver Downtown Convention Center
Hotels & Casinos
68,134 visits/mo
0.2 miles
Sheraton Denver Downtown Hotel
Hotels & Casinos
26,787 visits/mo
0.5 miles
the Curtis Denver a DoubleTree by Hilton Hotel
Hotels & Casinos
19,809 visits/mo
0.0 miles
Ross Dress for Less
Apparel
18,597 visits/mo
0.2 miles
Springhill Suites Denver Downtown
Hotels & Casinos
17,782 visits/mo
0.4 miles
Demographics for 80202, CO
19,606
Population
14,394
Households
1.4
Avg Household Size
34
Median Age
72%
College-Educated
96%
High-School Grad
1.2 sq mi
ZIP Area
16,338
Density / Sq Mi
$110,372
Median Household Income
$80,331
Median Earnings
$2,246
Median Rent
$677,100
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail, showroom, or creative office space with potential for restaurant.
Where is this retail space located?
The property is located at 1020 15th Street Unit 1V Denver, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime ground‑floor retail space with exceptional visibility and street‑to‑ceiling windows.; Flexible floor plan with the ability to easily add an in‑suite bathroom or full commercial kitchen.; Priced to sell at $750,000 for 2,394 SF of ground‑floor retail ownership.
