U-MX-3 Mixed-Use
For Sale
$539,900
1935 W 38th Ave, Denver, CO 80211
Existing space can serve office, residential, or service-related purposes within a mixed-use setting.
Property Size1,128 SF
Lot Size0.14 Acres
Days on Market77
Property Features for 1935 W 38th Ave
General Information
Standard status
Active
Size
1,128 SF
Lot size
0.14 Acres
Property subtype
Mixed Use
Zoning
U-MX-3
Additional Details
Road Access
Yes
Land Use
mixed-use
Taxes and HOA fees
Annual Taxes
$3,353
Building Details
Building Size
1,128 SF
Year Built
1953
Listing Agency:
Realty One Group Fourpoints CO
(970) 515-2556
Listed By:
Priscilla Franzen
(970) 515-2556
Source:
Corken
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 9:10PM
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 Realty One Group Fourpoints CO
Investment Insights
Based on property information with market context.
Located at 1935 W 38th Ave in Denver’s Sunnyside/38th Avenue corridor, this mixed-use property combines an established structure with a compact development site. The property was built in 1953 and has fresh exterior paint.
The approximately 6,280 SF parcel is zoned U-MX-3. Existing space can continue to be used for office, residential, or service-related purposes while future plans are considered. Its location within the Sunnyside/38th Avenue corridor and its mixed-use zoning provide a clear framework for evaluating continued occupancy or other property plans.
The approximately 6,280 SF parcel is zoned U-MX-3. Existing space can continue to be used for office, residential, or service-related purposes while future plans are considered. Its location within the Sunnyside/38th Avenue corridor and its mixed-use zoning provide a clear framework for evaluating continued occupancy or other property plans.
Key Highlights
- U‑MX‑3 zoning
- Approximately 6,280 SF of land
- Built in 1953
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
$16,527
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
3.06%
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%
$330,540
$330.5K
Cap Rate 7%
$236,100
$236.1K
Cap Rate 9%
$183,633
$183.6K
Market Conditions
NOI Build-Up for 1,128 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
$29.8K $26.40/SF
− Vacancy
−$7.7K −$6.86/SF
EGI
$22.0K $19.54/SF
− OpEx
−$5.5K −$4.88/SF
NOI
$16.5K $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%
$330,540
Cap Rate 7%
$236,100
Cap Rate 9%
$183,633
Alternative Uses
Best Use
Office B
$236.1K
$206.6K – $275.5K
NOI $16,527 @ 7.0% cap · market cap 3.06%
Second Best
Mixed Use
$227.0K
$198.6K – $264.8K
NOI $15,888 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$359.1K
$314.2K – $418.9K
NOI $25,136 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
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?
Mixed-use property - Existing space can serve office, residential, or service-related purposes within a mixed-use setting.
Where is this mixed-use property located?
The property is located at 1935 W 38th Ave Denver, CO.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: U‑MX‑3 zoning; Approximately 6,280 SF of land; Built in 1953
