Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    420 S Depew Street Lakewood, CO 80226

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $10,875,000

    54-unit multifamily property located in Lakewood, Colorado.

    Type:Multifamily
    Property size:
    52,893 SF
    Price / SF:
    $205/SF
    Added:
    Nov 21, 2025
    Days on Market:
    158
    Last Refresh:
    Apr 5 at 11:41 pm

    Property Features for 420 S Depew Street

    General Information

    Standard status
    Active
    Size
    52,893 SF
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Josh Newell
    Josh Newell

    Listing agent Josh Newell License #FA100001439

    Listing office PINNACLE REAL ESTATE ADVISORS

    Listing date Nov 21, 2025

    Source Pinnaclerea

    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 PINNACLE REAL ESTATE ADVISORS

    Overview

    Lakewood 54-Unit Multifamily Property

    This multifamily property, located in Lakewood, Colorado, features 54 units. The property is situated on a lot with a size of 52,893 square feet. It is suitable for residential income and apartment building purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Lakewood
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.091
    Latitude
    39.7111

    Nearby Similar for Sale

    • $875,000
      4,070 SF

      Retail Center on West Colfax

      Four-unit retail center with high traffic exposure and walkability.
      11501 W Colfax Avenue, Lakewood, CO 80215
      View Details
    • $1,750,000
      9,655 SF

      Lakewood Freestanding Building For Sale

      9,655 SF freestanding building in a Safeway shopping center.
      Lakewood, CO 80228
      View Details
    • $1,500,000
      5,720 SF

      Corner Freestanding Building in Lakewood

      5,720 SF freestanding building with multiple access points and overhead doors.
      Lakewood, CO 80226
      View Details
    • $999,500
      2,210 SF

      Lakewood Automotive Shop Investment Opportunity

      1,054 SF automotive shop with redevelopment potential on West Colfax.
      8810 W. Colfax Avenue, Lakewood, CO 80215
      View Details
    • $4,500,000
      31,955 SF

      Lakewood Commercial Property on Colfax

      Versatile commercial property ideal for retail or vehicle-related businesses.
      7801 - 7833 W. Colfax Avenue, Lakewood, CO 80214
      View Details
    • $649,000
      2,410 SF

      Lakewood Office Building For Sale

      Two-story office building with basement on 0.69-acre lot.
      1875 Wadsworth Blvd, Lakewood, CO 80214
      View Details
    • $5,000,000
      74,087 SF

      Lakewood Office Building For Sale

      64,587 RBA / 74,087 GBA office building for sale.
      2850 Youngfield Street, Lakewood, CO 80215
      View Details
    • $950,000

      Lakewood Quadplex Investment Opportunity

      Updated Lakewood quadplex with income potential and move-in ready units.
      7120 W 16th Pl, Lakewood, CO 80214
      View Details
    • $1,800,000
      13,855 SF

      Lakewood Office Building For Sale

      Office building with highway access and ample parking.
      7456 W 5th Ave, Lakewood, CO 80226
      View Details
    • $825,000

      Lakewood Multifamily Investment Opportunity

      Workforce housing asset with income growth potential in central Lakewood.
      5530 W 3rd Pl, Lakewood, CO 80226
      View Details
    • $2,150,000
      12,359 SF

      Lakewood Office Building For Sale

      12,359 SF office building in Lakewood, Colorado, 50% leased.
      735 S Xenon Ct, Lakewood, CO 80228
      View Details
    • $449,000
      2,071 SF

      Spacious Townhouse with Private Atrium

      Comfortable and modern 3-bedroom townhouse with versatile layout.
      9193 W 7th Avenue, Lakewood, CO 80215
      View Details

    FAQs

    What type of property is this?
    Apartment building - 54-unit multifamily property located in Lakewood, Colorado.
    Where is this apartment building located?
    The property is located at 420 S Depew Street Lakewood, CO.
    What is the asking price?
    The asking price for this property is $10,875,000.
    What are key features of this property?
    This property features: Just Sold!; 54 Units; Located in Lakewood
    (303) 962-9559
    We can help!
    Listing Contact
    Josh Newell
    Josh Newell
    Real Estate License ID: FA100001439
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!