Dual-Tenant Retail
For Sale
Contact for pricing
12244 E 44th Ave, Denver, CO 80033
Fully leased retail property with corner positioning, interstate exposure, and access from Peoria Street.
Property Size12,100 SF
Lot Size1.43 Acres
Price / SF$349.59
Days on Market13
Property Features for 12244 E 44th Ave
General Information
Standard status
Active
Size
12,100 SF
Lot size
1.43 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$317,300
Site & Location
Corner Location
Yes
Traffic Count
52,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2013
Units
2
Tenancy
Multi
Listing Agency:
Blue West Capital
Listed By:
Sam Crowe · License #FA100069540
Source:
Crexi
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 9 at 2:16PM
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 Blue West Capital
Investment Insights
Based on property information with market context.
This 12,100-square-foot retail center occupies a 1.43-acre corner parcel and was constructed in 2013. The property is 100% leased to two occupants, including a new 20-year House of Spirits leaseback with scheduled rent increases. Real De Minas is another occupant and operates four Denver locations, with a 5-year renewal option in place.
The center is positioned near I-70, which carries 219,000 vehicles per day, and benefits from first-turn access via the Peoria Street exit ramp, where traffic reaches nearly 52,000 vehicles per day. Nearby national tenants include La Quinta Inn, Best Western, Hilton, McDonald's, and Popeyes Louisiana Kitchen. More than 135,000 daytime employees are located within five miles of the property.
The center is positioned near I-70, which carries 219,000 vehicles per day, and benefits from first-turn access via the Peoria Street exit ramp, where traffic reaches nearly 52,000 vehicles per day. Nearby national tenants include La Quinta Inn, Best Western, Hilton, McDonald's, and Popeyes Louisiana Kitchen. More than 135,000 daytime employees are located within five miles of the property.
Key Highlights
- 100% leased retail center with two occupants
- 12,100 SF building on a 1.43‑acre corner parcel
- Built in 2013
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
$165,636
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
3.92%
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%
$3,312,720
$3.3M
Cap Rate 7%
$2,366,229
$2.4M
Cap Rate 9%
$1,840,400
$1.8M
Market Conditions
NOI Build-Up for 12,100 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
$248.3K $20.52/SF
− Vacancy
−$11.7K −$0.96/SF
EGI
$236.6K $19.56/SF
− OpEx
−$71.0K −$5.87/SF
NOI
$165.6K $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%
$3,312,720
Cap Rate 7%
$2,366,229
Cap Rate 9%
$1,840,400
Alternative Uses
Best Use
Retail
$2.37M
$2.07M – $2.76M
NOI $165,636 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.85M
$3.37M – $4.49M
NOI $269,631 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
52,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Burger King
Dining
10,510 visits/mo
0.4 miles
Demographics for 80033, CO
26,618
Population
13,257
Households
2
Avg Household Size
42
Median Age
44%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
3,207
Density / Sq Mi
$84,719
Median Household Income
$53,503
Median Earnings
$1,536
Median Rent
$568,900
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail property with corner positioning, interstate exposure, and access from Peoria Street.
Where is this strip mall located?
The property is located at 12244 E 44th Ave Denver, CO.
What is the asking price?
The asking price for this property is $4,230,000.
What are key features of this property?
This property features: 100% leased retail center with two occupants; 12,100 SF building on a 1.43‑acre corner parcel; Built in 2013
