Retail Storefront with Basement
For Sale
$3,500,000
2219 E 21st Ave, Denver, CO 80205
Multi-tenant building with updated water-heating equipment, radiator heat, and a code-compliant water system.
Property Size13,760 SF
Price / SF$254.36
Days on Market59
Property Features for 2219 E 21st Ave
General Information
Standard status
Active
Size
13,760 SF
Additional Details
Utilities to Site
Yes
Amenities
Tankless hot water heaters
basement storage
Building Details
Year Built
1920
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Rocky Mountain, REALTORS- Castle Pines Office
Listed By:
Don Bobeda
(303) 688-6644
Source:
Teamuniteddenver
Added: Aug 17
Changed: Oct 11
Last Checked: Oct 7 at 2:46PM
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 Berkshire Hathaway HomeServices Rocky Mountain, REALTORS- Castle Pines Office
Investment Insights
Based on property information with market context.
Built in 1920, this Denver retail storefront is configured for multiple tenants and includes substantial storage across accessible basement rooms. The exterior brick has been sealed, caulked, and painted, while the roof was sealed last year.
Three newer tankless hot water heaters serve the tenants. The original boiler remains operational for the building’s radiator hot water heat and has passed City of Denver inspections. The building’s water system has also passed all applicable codes for operation. The property is located across from Denver’s City Park.
Three newer tankless hot water heaters serve the tenants. The original boiler remains operational for the building’s radiator hot water heat and has passed City of Denver inspections. The building’s water system has also passed all applicable codes for operation. The property is located across from Denver’s City Park.
Key Highlights
- 1920 retail storefront across from Denver’s City Park
- Three newer tankless hot water heaters serve the tenants
- Original radiator hot water boiler remains operational
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$188,359
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,767,180
$3.8M
Cap Rate 7%
$2,690,843
$2.7M
Cap Rate 9%
$2,092,878
$2.1M
Market Conditions
NOI Build-Up for 13,760 SF
Gross rent
$282.4K $20.52/SF
− Vacancy
−$13.3K −$0.96/SF
EGI
$269.1K $19.56/SF
− OpEx
−$80.7K −$5.87/SF
NOI
$188.4K $13.69/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,767,180
Cap Rate 7%
$2,690,843
Cap Rate 9%
$2,092,878
Alternative Uses
Best Use
Retail
$2.69M
$2.35M – $3.14M
NOI $188,359 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.83M – $5.11M
NOI $306,621 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Denver, CO
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-tenant building with updated water-heating equipment, radiator heat, and a code-compliant water system.
Where is this storefront property located?
The property is located at 2219 E 21st Ave 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: 1920 retail storefront across from Denver’s City Park; Three newer tankless hot water heaters serve the tenants; Original radiator hot water boiler remains operational
