Three-Unit Triplex
For Sale
$1,950,000
1273 Meade Street, Denver, CO 80204
Brand-new 2024 triplex with separate utilities and three units, near RTD light rail for tenant convenience.
Property Size7,181 SF
Price / SF$271.55
Days on Market66
Property Features for 1273 Meade Street
General Information
Standard status
Active
Size
7,181 SF
Property subtype
Multifamily
Zoning
G-MU-3
Additional Details
Multifamily Units
3
Building Details
Building Size
7,181 SF
Year Built
2024
Listing Agency:
Unique Properties, Inc
(303) 900-5742
Listed By:
Michael DeSantis · License #FA.100053000
(303) 900-5742
Source:
Uniqueprop
Added: Jun 25
Changed: Aug 27
Last Checked: Aug 28 at 8:23AM
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.
Constructed in 2024, this 7,181 SF triplex includes three separate units within a modern, newly built property. The building is designed for streamlined operations, with separate utility metering for each unit so tenant accounts can be managed independently.
Located at 1273 Meade Street in Denver, the property is positioned about 4.5 blocks from the Perry St Light Rail Station, providing convenient transit access. The site is listed under G-MU-3 zoning.
For investors and owner-operators, the combination of a brand-new build, three-unit income structure, and separately metered utilities can support lower day-to-day management compared with properties where utilities are handled centrally. The independent utility setup also allows each tenant to pay utilities in addition to monthly rent, aligning with straightforward operating mechanics for rental use. This offering is presented for sale as a multifamily investment, including consideration for portfolio strategies that may include single-family rental-style management.
Located at 1273 Meade Street in Denver, the property is positioned about 4.5 blocks from the Perry St Light Rail Station, providing convenient transit access. The site is listed under G-MU-3 zoning.
For investors and owner-operators, the combination of a brand-new build, three-unit income structure, and separately metered utilities can support lower day-to-day management compared with properties where utilities are handled centrally. The independent utility setup also allows each tenant to pay utilities in addition to monthly rent, aligning with straightforward operating mechanics for rental use. This offering is presented for sale as a multifamily investment, including consideration for portfolio strategies that may include single-family rental-style management.
Key Highlights
- Brand‑new 2024 triplex offering 3 units in a 7,181 SF building
- G‑MU‑3 zoning
- Separate utility metering for each unit, with tenants paying utilities via individual accounts
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
$119,338
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
6.12%
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%
$2,386,760
$2.4M
Cap Rate 7%
$1,704,829
$1.7M
Cap Rate 9%
$1,325,978
$1.3M
Market Conditions
NOI Build-Up for 7,181 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
$181.0K $25.20/SF
− Vacancy
−$10.5K −$1.46/SF
EGI
$170.5K $23.74/SF
− OpEx
−$51.1K −$7.12/SF
NOI
$119.3K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /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%
$2,386,760
Cap Rate 7%
$1,704,829
Cap Rate 9%
$1,325,978
Alternative Uses
Best Use
Multifamily LT 5
$1.70M
$1.49M – $1.99M
NOI $119,338 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,034 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,018 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
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?
Triplex - Brand-new 2024 triplex with separate utilities and three units, near RTD light rail for tenant convenience.
Where is this triplex located?
The property is located at 1273 Meade Street Denver, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Brand‑new 2024 triplex offering 3 units in a 7,181 SF building; G‑MU‑3 zoning; Separate utility metering for each unit, with tenants paying utilities via individual accounts
