Lo-Hi Salon For
For Sale
$995,000
2845 N Wyandot St, Denver, CO 80211
Multi-generation salon in Lo-Hi neighborhood with income potential.
Property Size3,104 SF
Days on Market124
Property Features for 2845 N Wyandot St
General Information
Standard status
Active
Size
3,104 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,096
Building Details
Building Size
3,104 SF
Year Built
1907
Units
2
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Marc S Lippitt · License #ER.000183921
(303) 321-5888
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 6:56AM
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.
Located in the Lo-Hi neighborhood of Denver, Colorado, the property at 2845 Wyandot Street presents an opportunity for users and investors. The building, constructed in 1907, has been maintained by the current owner. The property has operated as a salon since the 1980s, under names including Bliss Salon, The Powder Room, Wyandot Beauty, Wellness Collective, and most recently, Wild Indie Hair Lounge. The lower level is a separate unit and is currently occupied by a tattoo artist who pays $1,100 per month. The property has seven off-street parking spaces. The location provides access to downtown Denver and Interstate 25. The surrounding area offers shopping, dining, and entertainment options. The C-MX-5 zoning allows for a multitude of possibilities. The bike score is 82, indicating it is very bikeable. The walk score is 77, indicating it is very walkable. The transit score is 51, indicating good transit.
Key Highlights
- Income‑producing lower level unit generating $1,100/month from a tattoo artist tenant.
- Prime Lo‑Hi neighborhood location with easy access to downtown Denver and I‑25.
- Permissive C‑MX‑5 zoning offers a multitude of possibilities.
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
$42,490
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
4.27%
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%
$849,800
$849.8K
Cap Rate 7%
$607,000
$607.0K
Cap Rate 9%
$472,111
$472.1K
Market Conditions
NOI Build-Up for 3,104 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
$63.7K $20.52/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$60.7K $19.56/SF
− OpEx
−$18.2K −$5.87/SF
NOI
$42.5K $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%
$849,800
Cap Rate 7%
$607,000
Cap Rate 9%
$472,111
Alternative Uses
Best Use
Retail
$607.0K
$531.1K – $708.2K
NOI $42,490 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,168 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,340
Businesses Nearby
80k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 59%
Shops & Services 30%
Hotels & Casinos 9%
Dining 3%
REI
Apparel
47,001 visits/mo
0.3 miles
Conoco
Shops & Services
12,605 visits/mo
0.1 miles
Shell
Shops & Services
10,390 visits/mo
0.2 miles
Residence Inn Denver Downtown
Hotels & Casinos
3,419 visits/mo
0.1 miles
Bartaco
Dining
2,346 visits/mo
0.3 miles
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-generation salon in Lo-Hi neighborhood with income potential.
Where is this storefront property located?
The property is located at 2845 N Wyandot St Denver, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Income‑producing lower level unit generating $1,100/month from a tattoo artist tenant.; Prime Lo‑Hi neighborhood location with easy access to downtown Denver and I‑25.; Permissive C‑MX‑5 zoning offers a multitude of possibilities.
