Convenience Store with Leased
For Sale
$2,750,000
1202 E 58th Avenue, Denver, CO 80216
Includes Conoco-branded gasoline, a check cashing business, and three leased retail units on an I-2 zoned site.
Property Size10,150 SF
Lot Size2.51 Acres
Price / SF$270.94
Days on Market31
Property Features for 1202 E 58th Avenue
General Information
Standard status
Active
Size
10,150 SF
Total Parking Spaces
2
Lot size
2.51 Acres
Property subtype
Commercial
Zoning
I-2
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$53,243
Building Details
Building Size
10,150 SF
Year Built
2001
Units
5
Tenancy
Multi
Listing Agency:
Guardian Real Estate Group
(303) 999-8949
Listed By:
Julie Maeda · License #FA100065982
(303) 999-8949
Source:
Coloradopartners
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 23 at 6:44AM
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 Guardian Real Estate Group
Investment Insights
Based on property information with market context.
This for-sale commercial property is anchored by an established convenience store with Conoco-branded gasoline and an included check cashing business. The convenience store features a deli and kitchen, supporting food service operations within the existing building footprint.
The offering also includes additional income-producing retail space with three extra retail units that are currently leased. The property is situated on approximately 2.51 acres and is described as having I-2 zoning.
The total commercial building area is approximately 10,150 square feet, with multiple components contributing to current rental income.
The offering also includes additional income-producing retail space with three extra retail units that are currently leased. The property is situated on approximately 2.51 acres and is described as having I-2 zoning.
The total commercial building area is approximately 10,150 square feet, with multiple components contributing to current rental income.
Key Highlights
- Approximately 10,150 SF commercial building built in 2001 with a convenience store plus three additional retail units
- Conoco‑branded gasoline included, with Lucky Check Cashing also included as part of the sale
- Approximately 2.51‑acre site with I‑2 zoning
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
$148,867
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
5.41%
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%
$2,977,340
$3.0M
Cap Rate 7%
$2,126,671
$2.1M
Cap Rate 9%
$1,654,078
$1.7M
Market Conditions
NOI Build-Up for 10,150 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
$208.3K $20.52/SF
− Vacancy
−$9.8K −$0.96/SF
EGI
$198.5K $19.56/SF
− OpEx
−$49.6K −$4.89/SF
NOI
$148.9K $14.67/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
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%
$2,977,340
Cap Rate 7%
$2,126,671
Cap Rate 9%
$1,654,078
Alternative Uses
Best Use
Specialty Retail
$2.13M
$1.86M – $2.48M
NOI $148,867 @ 7.0% cap · market cap 5.41%
Second Best
Retail
$1.98M
$1.74M – $2.32M
NOI $138,942 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,178 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
29k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 91%
Shops & Services 6%
Home Improvements & Furnishings 2%
McDonald's
Dining
16,143 visits/mo
0.3 miles
Burger King
Dining
8,052 visits/mo
0.4 miles
SUBWAY
Dining
1,959 visits/mo
0.2 miles
Conoco
Shops & Services
1,838 visits/mo
0.1 miles
Airgas
Home Improvements & Furnishings
675 visits/mo
0.2 miles
Demographics for 80216, CO
15,915
Population
6,924
Households
2.3
Avg Household Size
31
Median Age
38%
College-Educated
76%
High-School Grad
10.1 sq mi
ZIP Area
1,576
Density / Sq Mi
$86,869
Median Household Income
$49,966
Median Earnings
$1,934
Median Rent
$392,500
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?
Grocery and convenience store - Includes Conoco-branded gasoline, a check cashing business, and three leased retail units on an I-2 zoned site.
Where is this grocery and convenience store located?
The property is located at 1202 E 58th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Approximately 10,150 SF commercial building built in 2001 with a convenience store plus three additional retail units; Conoco‑branded gasoline included, with Lucky Check Cashing also included as part of the sale; Approximately 2.51‑acre site with I‑2 zoning
