City Park West Redevelopment
For Sale
$1,200,000
1751 N Franklin Street, Denver, CO 80218
Charming Victorian on a large lot, ideal for redevelopment.
Property Size4,521 SF
Price / SF$265.43
Days on Market429
Property Features for 1751 N Franklin Street
General Information
Standard status
Active
Size
4,521 SF
Taxes and HOA fees
Annual Taxes
$26,729
Building Details
Year Built
1922
Listing Agency:
UNIQUE PROPERTIES LLC
(303) 321-5888
Listed By:
SAM LEGER · License #FA.040042452
Source:
Corcoran
Added: Jun 11, 2025
Changed: Mar 16
Last Checked: Aug 13 at 4:42AM
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 LLC
Investment Insights
Based on property information with market context.
This brick Victorian property, situated on a 9,148 square foot lot, presents a redevelopment or live/work opportunity in City Park West. Zoned G-RO-5, the property allows for by-right development of duplexes, townhomes, or small-scale multifamily residences. The existing structure, encompassing over 4,500 square feet, features 11 private offices, 3 bathrooms, a conference room, and a kitchen. The building could be converted into a single-family home, a creative co-living space, or continue its use as a live/work space. Additional features include a detached 3-car garage and surface parking. The location is one block from St. Joseph Hospital and near City Park, Downtown, and Colfax retail. With a Walk Score of 91, this infill location is suitable for builders or buyers seeking a long-term investment in Denver.
Key Highlights
- Large 9,148 SF lot zoned G‑RO‑5 allows for duplexes, townhomes, or small multifamily development.
- Existing 4,500+ SF Victorian building suitable for single‑family conversion, co‑living, or live/work use.
- Prime City Park West location, one block from St. Joseph Hospital.
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
$63,678
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
5.31%
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%
$1,273,560
$1.3M
Cap Rate 7%
$909,686
$909.7K
Cap Rate 9%
$707,533
$707.5K
Market Conditions
NOI Build-Up for 4,521 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
$108.5K $24.00/SF
− Vacancy
−$6.6K −$1.46/SF
EGI
$101.9K $22.54/SF
− OpEx
−$38.2K −$8.45/SF
NOI
$63.7K $14.09/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,273,560
Cap Rate 7%
$909,686
Cap Rate 9%
$707,533
Alternative Uses
Best Use
Mixed Use
$909.7K
$796.0K – $1.06M
NOI $63,678 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,744 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
526
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Charming Victorian on a large lot, ideal for redevelopment.
Where is this live-work space located?
The property is located at 1751 N Franklin Street Denver, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Large 9,148 SF lot zoned G‑RO‑5 allows for duplexes, townhomes, or small multifamily development.; Existing 4,500+ SF Victorian building suitable for single‑family conversion, co‑living, or live/work use.; Prime City Park West location, one block from St. Joseph Hospital.
