Three-Story Live-Work
New
For Sale
$875,000
1240 31st St, Denver, CO 80205
Mural-wrapped loft with adaptable studio space, rooftop outdoor area, garage parking, and I-MX-3 zoning.
Property Size1,900 SF
Price / SF$460.53
Days on Market2
Property Features for 1240 31st St
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
I-MX-3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,538
Amenities
private rooftop deck
Building Details
Building Size
1,900 SF
Year Built
2008
Stories
3
Units
1
Listing Agency:
Innovate Commercial Real Estate
(720) 583-5794
Listed By:
Charlie Cummings · License #100072637
(720) 583-5794
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 5:36AM
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 Innovate Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 2008, this 1,900-square-foot live-work loft spans three stories and combines residential and creative workspace elements. The interior includes 2 bedrooms, 2.5 baths, exposed brick, steel truss ceilings, polished concrete floors, and a mezzanine office or studio. A private rooftop deck provides skyline views, while two garage spaces support on-site parking and storage.
Located at 1240 31st Street in Denver’s Curtis Park, the property sits near RiNo’s restaurant and gallery corridor and blocks from the 38th & Blake rail station. I-MX-3 zoning adds flexibility for a range of live-work-oriented applications supported by the property’s configuration.
Located at 1240 31st Street in Denver’s Curtis Park, the property sits near RiNo’s restaurant and gallery corridor and blocks from the 38th & Blake rail station. I-MX-3 zoning adds flexibility for a range of live-work-oriented applications supported by the property’s configuration.
Key Highlights
- 1,900 SF, 3‑story live‑work loft built in 2008
- 2 bedrooms and 2.5 baths
- Mezzanine office/studio with exposed brick and steel truss ceilings
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
$27,839
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
3.18%
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%
$556,780
$556.8K
Cap Rate 7%
$397,700
$397.7K
Cap Rate 9%
$309,322
$309.3K
Market Conditions
NOI Build-Up for 1,900 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
$50.2K $26.40/SF
− Vacancy
−$13.0K −$6.86/SF
EGI
$37.1K $19.54/SF
− OpEx
−$9.3K −$4.88/SF
NOI
$27.8K $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%
$556,780
Cap Rate 7%
$397,700
Cap Rate 9%
$309,322
Alternative Uses
Best Use
Office B
$397.7K
$348.0K – $464.0K
NOI $27,839 @ 7.0% cap · market cap 3.18%
Second Best
Mixed Use
$382.3K
$334.5K – $446.0K
NOI $26,762 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$604.8K
$529.2K – $705.7K
NOI $42,339 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,994
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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?
Live-work space - Mural-wrapped loft with adaptable studio space, rooftop outdoor area, garage parking, and I-MX-3 zoning.
Where is this live-work space located?
The property is located at 1240 31st St Denver, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1,900 SF, 3‑story live‑work loft built in 2008; 2 bedrooms and 2.5 baths; Mezzanine office/studio with exposed brick and steel truss ceilings
