Multi-Tenant Shopping
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2240-2246 Larimer St, Denver, CO 80205
Multi-tenant retail property with C-MX-8 zoning, on-site parking, and an established Snooze A.M. Eatery anchor.
Property Size17,689 SF
Price / SF$399.01
Days on Market11
Property Features for 2240-2246 Larimer St
General Information
Standard status
Active
Size
17,689 SF
Property subtype
RETAIL
Zoning
C-MX -8
Additional Details
Anchor Co-Tenants
Snooze A.M. Eatery
Amenities
on-site parking
Building Details
Tenancy
Multi
Listing Agency:
Northpeak Commercial Advisors
(303) 263-6260
Listed By:
Kevin Calame
(303) 263-6260
Source:
Moodyscre
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 11:22AM
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 Northpeak Commercial Advisors
Investment Insights
Based on property information with market context.
This 17,689-square-foot shopping center at 2240-2246 Larimer St is configured as a multi-tenant retail property. The asset includes secure on-site parking and is anchored by the original Snooze A.M. Eatery location.
The property is positioned two blocks from Coors Field in Denver. C-MX-8 zoning supports the existing commercial use and provides a defined framework for potential future redevelopment. Multiple tenancy provides a diversified occupancy structure within the asset.
The property is positioned two blocks from Coors Field in Denver. C-MX-8 zoning supports the existing commercial use and provides a defined framework for potential future redevelopment. Multiple tenancy provides a diversified occupancy structure within the asset.
Key Highlights
- 17,689‑square‑foot multi‑tenant shopping center
- C‑MX‑8 zoning
- Secure on‑site parking
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
$242,143
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
3.43%
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%
$4,842,860
$4.8M
Cap Rate 7%
$3,459,186
$3.5M
Cap Rate 9%
$2,690,478
$2.7M
Market Conditions
NOI Build-Up for 17,689 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
$363.0K $20.52/SF
− Vacancy
−$17.1K −$0.96/SF
EGI
$345.9K $19.56/SF
− OpEx
−$103.8K −$5.87/SF
NOI
$242.1K $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 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%
$4,842,860
Cap Rate 7%
$3,459,186
Cap Rate 9%
$2,690,478
Alternative Uses
Best Use
Retail
$3.46M
$3.03M – $4.04M
NOI $242,143 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.93M – $6.57M
NOI $394,173 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,202
Businesses Nearby
19k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 52%
Shops & Services 34%
Apparel 14%
The Ritz-Carlton, Denver
Hotels & Casinos
10,021 visits/mo
0.4 miles
Public Storage
Shops & Services
2,788 visits/mo
0.5 miles
Patagonia
Apparel
2,659 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
2,227 visits/mo
0.1 miles
Hertz
Shops & Services
1,050 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with C-MX-8 zoning, on-site parking, and an established Snooze A.M. Eatery anchor.
Where is this shopping center located?
The property is located at 2240-2246 Larimer St Denver, CO.
What is the asking price?
The asking price for this property is $7,058,172.
What are key features of this property?
This property features: 17,689‑square‑foot multi‑tenant shopping center; C‑MX‑8 zoning; Secure on‑site parking
