Building Details

Building Size 8,856 SF

Buildings 1

Tenancy Multi

Listing Agency: Panorama Commercial Group

Listed By: Mark Pyms · License #ER314551 Show Phone

Source: Panoramacommercialgroup

Added: Aug 16 Changed: Oct 8 Last Checked: Oct 23 at 4:31AM

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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 Panorama Commercial Group

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Investment Insights

Based on property information with market context.

The offering combines a retail and office building at 1487–1491 S Broadway with the adjoining residential property at 15 W Florida Avenue. The commercial building is positioned at a corner intersection and is 100% occupied by 9 tenants. The additional residential component contains 1,250 SF and is currently leased, providing a second property type within the offering.

The property fronts S Broadway in Denver’s Overland Neighborhood, an urban commercial area with shops, restaurants, and other businesses nearby. Its location at the intersection of S Broadway and W Florida Avenue places the combined asset within an established mixed-use setting.

Key Highlights

• 100% occupied commercial building with 9 tenants
• Retail and office mixed‑use building at a corner intersection
• Frontage on S Broadway in Denver’s Overland Neighborhood

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$129,758

Cap Rate

4.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,595,160 $2.6M

Cap Rate 7%

$1,853,686 $1.9M

Cap Rate 9%

$1,441,756 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,856 SF

Gross rent

$233.8K $26.40/SF

− Vacancy

−$60.8K −$6.86/SF

EGI

$173.0K $19.54/SF

− OpEx

−$43.3K −$4.88/SF

NOI

$129.8K $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 Rate 5%

$2,595,160

Cap Rate 7%

$1,853,686

Cap Rate 9%

$1,441,756

Alternative Uses

Best Use

Office B

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,758 @ 7.0% cap · market cap 4.90%

Second Best

Mixed Use

$1.78M

$1.56M – $2.08M (±1% cap)

NOI $124,737 @ 7.0% cap · market cap 4.71%

Theoretical Best

Office A

$2.82M

$2.47M – $3.29M (±1% cap)

NOI $197,343 @ 7.0% cap · market cap 7.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Dental Office Pharmacy Daycare Center (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,067

Businesses Nearby

Explore this area Business Placement

Demographics for 80210, CO

39,394

Population

18,496

Households

2.1

Avg Household Size

33

Median Age

76%

College-Educated

99%

High-School Grad

6.1 sq mi

ZIP Area

6,458

Density / Sq Mi

$120,156

Median Household Income

$61,607

Median Earnings

$1,963

Median Rent

$870,500

Median Home Value

Market

Vacancy Rate% for Office in Denver, CO

14.5% 2019

17.4% 2020

19.3% 2021

21.8% 2022

23% 2023

25% 2024

26.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail and office building with 9 tenants and an adjoining leased residential property.

Where is this mixed-use property located?

The property is located at 1487-1491 South Broadway Denver, CO.

What is the asking price?

The asking price for this property is $2,650,000.

What are key features of this property?

This property features: 100% occupied commercial building with 9 tenants; Retail and office mixed‑use building at a corner intersection; Frontage on S Broadway in Denver’s Overland Neighborhood