Free-Standing Multi-Tenant Retail
For Sale
Contact for pricing
1658-1668 N Lafayette Street, Denver, CO 80210
Free-standing building with 24 individually sized units, multiple restrooms and kitchens, terraces, and off-street parking including an 18-space lot.
Property Size13,658 SF
Price / SF$256.26
Days on Market127
Property Features for 1658-1668 N Lafayette Street
General Information
Standard status
Active
Size
13,658 SF
Total Parking Spaces
18
Property subtype
Retail, Office, Mixed Use
Zoning
C-MS-5
Occupancy
97%
Investment Type
Stabilized
Net Operating Income
$391,586
Building Details
Year Built
1921
Year Renovated
2018
Stories
2
Units
24
Tenancy
Multi
Listing Agency:
Kentwood Real Estate
Listed By:
Kyle Malnati · License #CO ER40042617
(303) 773-3399
Source:
Crexi
Added: May 4
Changed: Aug 20
Last Checked: Sep 2 at 2:18AM
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 Kentwood Real Estate
Investment Insights
Based on property information with market context.
Introducing Lafayette Exchange at City Park West, a free-standing commercial building located at 1658–1668 N Lafayette Street. The property is currently configured with 24 individually sized units, offering flexible layouts for a mix of boutique, street-facing spaces. A brick façade and expansive windows help support bright interiors and strong curb appeal, while original architectural details are complemented by modern updates.
The building includes 41 rooms total, including 3 kitchens and 7 restrooms, plus 2 terraces. There is also a double-height 2-car garage/store component. Off-street parking is available, including a spacious 18-space parking lot designed to support customer and tenant access.
Positioned along a tree-lined street just blocks from City Park, the property sits within an established mix of restaurants, cafés, markets, and neighborhood amenities.
The building includes 41 rooms total, including 3 kitchens and 7 restrooms, plus 2 terraces. There is also a double-height 2-car garage/store component. Off-street parking is available, including a spacious 18-space parking lot designed to support customer and tenant access.
Positioned along a tree-lined street just blocks from City Park, the property sits within an established mix of restaurants, cafés, markets, and neighborhood amenities.
Key Highlights
- Free‑standing commercial building built in 1921 at 1658–1668 N Lafayette Street
- Currently configured with 24 individually sized units plus 41 total rooms
- Includes 3 kitchens and 7 restrooms, supporting flexible tenant and suite layouts
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
$200,117
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
5.72%
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%
$4,002,340
$4.0M
Cap Rate 7%
$2,858,814
$2.9M
Cap Rate 9%
$2,223,522
$2.2M
Market Conditions
NOI Build-Up for 13,658 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
$360.6K $26.40/SF
− Vacancy
−$93.7K −$6.86/SF
EGI
$266.8K $19.54/SF
− OpEx
−$66.7K −$4.88/SF
NOI
$200.1K $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 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%
$4,002,340
Cap Rate 7%
$2,858,814
Cap Rate 9%
$2,223,522
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.34M
NOI $200,117 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$2.67M
$2.34M – $3.12M
NOI $186,963 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$4.35M
$3.80M – $5.07M
NOI $304,348 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,946
Businesses Nearby
Under-served
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Free-standing building with 24 individually sized units, multiple restrooms and kitchens, terraces, and off-street parking including an 18-space lot.
Where is this storefront property located?
The property is located at 1658-1668 N Lafayette Street Denver, CO.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Free‑standing commercial building built in 1921 at 1658–1668 N Lafayette Street; Currently configured with 24 individually sized units plus 41 total rooms; Includes 3 kitchens and 7 restrooms, supporting flexible tenant and suite layouts
