Historic Denver Building For
For Sale
$7,900,000
1520 20th St, Denver, CO 80202
Prime investment opportunity in Central Denver with strong rental history.
Property Size20,104 SF
Price / SF$392.96
Days on Market173
Property Features for 1520 20th St
General Information
Standard status
Active
Size
20,104 SF
Property subtype
Retail
Building Details
Building Size
20,104 SF
Year Built
1891
Listing Agency:
Pinnacle Real Estate Advisors
(303) 378-1901
Listed By:
Darrin Revious
(303) 378-1901
Source:
Pinnaclerea
Added: Mar 5
Changed: Aug 23
Last Checked: Aug 24 at 3:38AM
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
Investment Insights
Based on property information with market context.
Located in Central Denver, CO, the property at 1520 20th St is a 20,104 SF building constructed in 1891. The property is zoned D-LD and features two retail units. The building is 100% occupied and has a strong rental history, presenting an opportunity for retail and street retail investors. One of the units is occupied by a restaurant and bar. The property includes 8,320 SF of deck space with southern natural light. There is a 2-year lease in place with a 3.8% cap, and the lease can be modified for a user. The property is located directly across from Coors Field.
Key Highlights
- Prime investment opportunity in Central Denver.
- 100% occupied property with strong rental history.
- Zoned D‑LD, perfectly positioned for retail / street retail investors.
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
$294,859
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
3.73%
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%
$5,897,180
$5.9M
Cap Rate 7%
$4,212,271
$4.2M
Cap Rate 9%
$3,276,211
$3.3M
Market Conditions
NOI Build-Up for 20,104 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
$412.5K $20.52/SF
− Vacancy
−$19.4K −$0.96/SF
EGI
$393.1K $19.56/SF
− OpEx
−$98.3K −$4.89/SF
NOI
$294.9K $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%
$5,897,180
Cap Rate 7%
$4,212,271
Cap Rate 9%
$3,276,211
Alternative Uses
Best Use
Specialty Retail
$4.21M
$3.69M – $4.91M
NOI $294,859 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.40M
$5.60M – $7.47M
NOI $447,988 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,614
Businesses Nearby
73k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 38%
Hotels & Casinos 22%
Illegal Pete's
Dining
15,339 visits/mo
0.4 miles
Bank of America
Shops & Services
13,346 visits/mo
0.4 miles
The Ritz-Carlton, Denver
Hotels & Casinos
10,021 visits/mo
0.4 miles
P.F. Chang's
Dining
8,629 visits/mo
0.5 miles
Hilton Garden Inn Denver Union Station
Hotels & Casinos
5,747 visits/mo
0.3 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Colorado Symphony — 1000 14th St #15, Denver, CO 80202
- Starbucks — 1405 Curtis Street, Denver, CO 80202
- Henry's Tavern — 1162 Lawrence St, Denver, CO 80204
- Starbucks — 900 Auraria Pkwy, Denver, CO 80204
- EDGE Restaurant & Bar — 1111 14th St, Denver, CO 80202
Frequently Asked Questions
What type of property is this?
Bar & Pub - Prime investment opportunity in Central Denver with strong rental history.
Where is this bar & pub located?
The property is located at 1520 20th St Denver, CO.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: Prime investment opportunity in Central Denver.; 100% occupied property with strong rental history.; Zoned D‑LD, perfectly positioned for retail / street retail investors.
