Workforce Apartment
For Sale
$2,575,000
7310 W 10th Ave, Lakewood, CO 80214
Seventeen-unit apartment community offers studio through two-bedroom units on a 0.52-acre site.
Property Size12,544 SF
Days on Market49
Property Features for 7310 W 10th Ave
General Information
Standard status
Active
Size
12,544 SF
Property subtype
Multifamily
Building Details
Building Size
12,544 SF
Year Built
1960
Listing Agency:
Pinnacle Real Estate Advisors
(719) 651-8495
Listed By:
Jim Knowlton · License #FA100032419
(719) 651-8495
Source:
Pinnaclerea
Added: Jul 16
Changed: Aug 31
Last Checked: Sep 1 at 6:13PM
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.
Club Apartments is a 17-unit multifamily community offering a mix of studio, one-bedroom, and two-bedroom apartments. The property totals approximately 11,602 rentable square feet and sits on a 0.52-acre site. The asset is described as well maintained, with current operations supporting strong occupancy.
The property is located in Lakewood in Denver’s west-suburban market, with convenient access to downtown Denver and major employment centers. Public transportation access is noted in the remarks, and the asset is also associated with the West Colfax corridor amenities.
Bike and walk scores are provided in the materials, with the property identified as bikeable and more car-dependent for day-to-day transportation, reflecting moderate transit access and supporting an auto-oriented renter base.
The property is located in Lakewood in Denver’s west-suburban market, with convenient access to downtown Denver and major employment centers. Public transportation access is noted in the remarks, and the asset is also associated with the West Colfax corridor amenities.
Bike and walk scores are provided in the materials, with the property identified as bikeable and more car-dependent for day-to-day transportation, reflecting moderate transit access and supporting an auto-oriented renter base.
Key Highlights
- 17‑unit multifamily community in Lakewood offers studio, 1‑bedroom, and 2‑bedroom apartments
- Approximately 11,602 rentable SF on a 0.52‑acre site
- Year built: 1960
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
$159,537
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
6.20%
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%
$3,190,740
$3.2M
Cap Rate 7%
$2,279,100
$2.3M
Cap Rate 9%
$1,772,633
$1.8M
Market Conditions
NOI Build-Up for 12,544 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
$308.6K $24.60/SF
− Vacancy
−$18.5K −$1.48/SF
EGI
$290.1K $23.12/SF
− OpEx
−$130.5K −$10.41/SF
NOI
$159.5K $12.72/SF
Area
Lakewood, CO
Vacancy
6.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$3,190,740
Cap Rate 7%
$2,279,100
Cap Rate 9%
$1,772,633
Alternative Uses
Best Use
Apartment 5plus
$2.28M
$1.99M – $2.66M
NOI $159,537 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $263,003 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 80214, CO
26,493
Population
13,298
Households
2
Avg Household Size
36
Median Age
39%
College-Educated
89%
High-School Grad
4.7 sq mi
ZIP Area
5,637
Density / Sq Mi
$74,259
Median Household Income
$48,094
Median Earnings
$1,516
Median Rent
$519,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seventeen-unit apartment community offers studio through two-bedroom units on a 0.52-acre site.
Where is this apartment building located?
The property is located at 7310 W 10th Ave Lakewood, CO.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: 17‑unit multifamily community in Lakewood offers studio, 1‑bedroom, and 2‑bedroom apartments; Approximately 11,602 rentable SF on a 0.52‑acre site; Year built: 1960
