City Park West Redevelopment
For Sale
$1,200,000
1751 N Franklin St, Denver, CO 80218
Victorian on 9,148 SF lot, ideal for redevelopment.
Property Size4,521 SF
Lot Size0.21 Acres
Price / SF$266.67
Days on Market157
Property Features for 1751 N Franklin St
General Information
Standard status
Active
Size
4,521 SF
Lot size
0.21 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,729
Building Details
Building Size
4,521 SF
Year Built
1922
Stories
2
Units
1
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Sam Leger · License #FA.040042452
(303) 321-5888
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 16 at 11:14AM
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 Unique Properties, Inc
Investment Insights
Based on property information with market context.
This brick Victorian property presents a redevelopment or live/work opportunity in City Park West. Situated on a 9,148 square foot lot, the property is zoned G-RO-5, allowing for duplexes, townhomes, or small-scale multifamily development by right. The existing structure offers over 4,500 square feet of space, featuring 11 private offices, 3 bathrooms, a conference room, and a kitchen. The building could be converted into a single-family home, a creative co-living space, or continue as a live/work space. Additional features include a detached 3-car garage and surface parking. The property is located one block from St. Joseph Hospital and is near City Park, Downtown, and Colfax retail. With a Walk Score of 91, this infill location is suitable for builders or buyers seeking a long-term investment in Denver.
Key Highlights
- Large 9,148 SF lot zoned G‑RO‑5 allows for duplexes, townhomes, or small‑scale multifamily development by‑right.
- Prime location in City Park West, one block from St. Joseph Hospital and minutes from City Park, Downtown, and Colfax retail.
- Existing 4,500+ SF Victorian building offers flexible options: single‑family conversion, co‑living, or continued live/work use.
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
$65,934
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
5.49%
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%
$1,318,680
$1.3M
Cap Rate 7%
$941,914
$941.9K
Cap Rate 9%
$732,600
$732.6K
Market Conditions
NOI Build-Up for 4,500 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
$118.8K $26.40/SF
− Vacancy
−$30.9K −$6.86/SF
EGI
$87.9K $19.54/SF
− OpEx
−$22.0K −$4.88/SF
NOI
$65.9K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
Lease Rate
$26.40 /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%
$1,318,680
Cap Rate 7%
$941,914
Cap Rate 9%
$732,600
Alternative Uses
Best Use
Office B
$941.9K
$824.2K – $1.10M
NOI $65,934 @ 7.0% cap · market cap 5.49%
Second Best
Mixed Use
$905.5K
$792.3K – $1.06M
NOI $63,383 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,276 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 80218, CO
19,484
Population
13,116
Households
1.5
Avg Household Size
35
Median Age
72%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
12,178
Density / Sq Mi
$82,925
Median Household Income
$67,570
Median Earnings
$1,475
Median Rent
$653,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Residential land & home lot - Victorian on 9,148 SF lot, ideal for redevelopment.
Where is this residential land & home lot located?
The property is located at 1751 N Franklin St Denver, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Large 9,148 SF lot zoned G‑RO‑5 allows for duplexes, townhomes, or small‑scale multifamily development by‑right.; Prime location in City Park West, one block from St. Joseph Hospital and minutes from City Park, Downtown, and Colfax retail.; Existing 4,500+ SF Victorian building offers flexible options: single‑family conversion, co‑living, or continued live/work use.
