Duplex Redevelopment
For Sale
$995,000
1735-1737 Franklin Street, Denver, CO 80218
Duplex with updated kitchens and multiple parking/garage spaces, zoned for urban housing and redevelopment.
Property Size4,115 SF
Days on Market98
Property Features for 1735-1737 Franklin Street
General Information
Standard status
Active
Size
4,115 SF
Property subtype
Multifamily
Zoning
G-RO-5
Additional Details
Multifamily Units
2
Building Details
Building Size
4,115 SF
Year Built
1931
Tenancy
Multi
Listing Agency:
Unique Properties, Inc
Listed By:
Sam Leger · License #FA.040042452
(303) 941-8112
Source:
Uniqueprop
Added: Jun 3
Changed: Aug 26
Last Checked: Sep 8 at 4:51AM
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.
1735-1737 N. Franklin Street presents a duplex configuration on a redevelopment lot. The property includes updated kitchens and each unit is laid out with three bedrooms and three bathrooms. Both units also feature a yard with a patio, one kitchen, a two-car garage, and additional basements, providing flexible interior and storage space for residential use.
The property is zoned G-RO-5, which allows for urban housing, duplexes, townhomes, and apartments. It is located one block from the Saint Joseph Hospital campus and approximately seven blocks from City Park. The immediate area also has 1,819 new multi-family units planned and under construction, supporting an evolving residential mix.
For buyers, investors, or owner-users, the existing duplex offers a straightforward residential setup while the zoning supports multiple housing forms and redevelopment planning. The onsite yard and patio areas, along with two-car garages and basements, can support tenant needs for everyday functionality, whether continuing duplex operations or moving forward with an expanded residential strategy.
The property is zoned G-RO-5, which allows for urban housing, duplexes, townhomes, and apartments. It is located one block from the Saint Joseph Hospital campus and approximately seven blocks from City Park. The immediate area also has 1,819 new multi-family units planned and under construction, supporting an evolving residential mix.
For buyers, investors, or owner-users, the existing duplex offers a straightforward residential setup while the zoning supports multiple housing forms and redevelopment planning. The onsite yard and patio areas, along with two-car garages and basements, can support tenant needs for everyday functionality, whether continuing duplex operations or moving forward with an expanded residential strategy.
Key Highlights
- 1735–1737 N. Franklin Street duplex with updated kitchens
- Year built: 1931
- Zoned G‑RO‑5 for urban housing, including duplexes, townhomes, and apartments
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
$68,386
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
6.87%
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%
$1,367,720
$1.4M
Cap Rate 7%
$976,943
$976.9K
Cap Rate 9%
$759,844
$759.8K
Market Conditions
NOI Build-Up for 4,115 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
$103.7K $25.20/SF
− Vacancy
−$6.0K −$1.46/SF
EGI
$97.7K $23.74/SF
− OpEx
−$29.3K −$7.12/SF
NOI
$68.4K $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%
$1,367,720
Cap Rate 7%
$976,943
Cap Rate 9%
$759,844
Alternative Uses
Best Use
Multifamily LT 5
$976.9K
$854.8K – $1.14M
NOI $68,386 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$892.6K
$781.0K – $1.04M
NOI $62,481 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,697 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 80218, CO
19,484
Population
13,116
Households
1.5
Avg Household Size
35
Median Age
72%
College-Educated
98%
High-School Grad
1.6 sq mi
ZIP Area
12,178
Density / Sq Mi
$82,925
Median Household Income
$67,570
Median Earnings
$1,475
Median Rent
$653,900
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?
Duplex - Duplex with updated kitchens and multiple parking/garage spaces, zoned for urban housing and redevelopment.
Where is this duplex located?
The property is located at 1735-1737 Franklin Street Denver, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1735–1737 N. Franklin Street duplex with updated kitchens; Year built: 1931; Zoned G‑RO‑5 for urban housing, including duplexes, townhomes, and apartments
