Six-Unit Apartment
For Sale
Contact for pricing
1400 Detroit St., Denver, CO 80206
Vintage multifamily property with updated electrical systems, balconies, garages, and surface parking.
Property Size6,463 SF
Price / SF$270.77
Days on Market11
Property Features for 1400 Detroit St.
General Information
Standard status
Active
Size
6,463 SF
Total Parking Spaces
6
Property subtype
Multifamily
Net Operating Income
$104,719
Units
Unit Mix
4 x 3BR, 2 x 1BR
Multifamily Units
6
Amenities
balconies
Building Details
Year Built
1911
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Greg Johnson · License #CO 040034460
(720) 738-1671
Source:
Crexi
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 8:51PM
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 NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
The Antoinette is a 6,463-square-foot apartment building constructed in 1911 at 1400 Detroit St. in Denver’s Congress Park neighborhood. The six-unit configuration includes four three-bedroom residences, a renovated loft-style one-bedroom apartment, and a two-level carriage house with a bonus office. Large balconies, upgraded electrical systems, and varied floor plans add functional and architectural distinction across the property.
On-site parking includes three garages and three surface spaces. The property is close to dining, coffee shops, retail, parks, and cultural destinations, with access to downtown and central Denver neighborhoods. Its unit mix combines larger multi-bedroom homes with two distinct one-bedroom residences, including the carriage house arrangement.
On-site parking includes three garages and three surface spaces. The property is close to dining, coffee shops, retail, parks, and cultural destinations, with access to downtown and central Denver neighborhoods. Its unit mix combines larger multi-bedroom homes with two distinct one-bedroom residences, including the carriage house arrangement.
Key Highlights
- Six‑unit apartment building totaling 6,463 SF
- Unit mix includes four three‑bedroom residences and two one‑bedroom homes
- Renovated loft‑style apartment and two‑level carriage house with bonus office
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
$98,132
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
5.61%
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%
$1,962,640
$2.0M
Cap Rate 7%
$1,401,886
$1.4M
Cap Rate 9%
$1,090,356
$1.1M
Market Conditions
NOI Build-Up for 6,463 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
$190.0K $29.40/SF
− Vacancy
−$11.6K −$1.79/SF
EGI
$178.4K $27.61/SF
− OpEx
−$80.3K −$12.42/SF
NOI
$98.1K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /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%
$1,962,640
Cap Rate 7%
$1,401,886
Cap Rate 9%
$1,090,356
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,132 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,018 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
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 - Vintage multifamily property with updated electrical systems, balconies, garages, and surface parking.
Where is this apartment building located?
The property is located at 1400 Detroit St. Denver, CO.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six‑unit apartment building totaling 6,463 SF; Unit mix includes four three‑bedroom residences and two one‑bedroom homes; Renovated loft‑style apartment and two‑level carriage house with bonus office
