Renovated Mixed-Use
For Sale
$1,290,000
2306 W 29th Avenue, Denver, CO 80211
C-MX-5 zoning and a drive-in door support flexible commercial occupancy.
Property Size4,742 SF
Price / SF$272.04
Days on Market128
Property Features for 2306 W 29th Avenue
General Information
Standard status
Active
Size
4,742 SF
Total Parking Spaces
6
Property subtype
Industrial
Zoning
C-MX-5
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Building Size
4,742 SF
Year Built
1924
Year Renovated
2012
Listing Agency:
Unique Properties LLC
(303) 321-5888
Listed By:
Marc S. Lippitt · License #ER.000183921
Source:
Uniqueprop
Added: Apr 24
Changed: Aug 29
Last Checked: Jun 26 at 9:25PM
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 4,742-square-foot mixed-use property combines a renovated residence with a commercial component. The west side includes a 1,748-square-foot, one-bedroom, one-bath residence that has been updated. The east side provides 2,994 square feet of mixed-use space with a drive-in door and was most recently used for warehouse and distribution operations. The property was completely renovated in 2012.
Located at 2306 W. 29th Avenue in Denver’s Lower Highlands neighborhood, the property offers access to downtown Denver and Interstate 25. Six off-street parking spaces are provided. C-MX-5 zoning permits a range of potential uses, while the residence is rented through Oct-26. The building was constructed in 1924.
Located at 2306 W. 29th Avenue in Denver’s Lower Highlands neighborhood, the property offers access to downtown Denver and Interstate 25. Six off-street parking spaces are provided. C-MX-5 zoning permits a range of potential uses, while the residence is rented through Oct-26. The building was constructed in 1924.
Key Highlights
- 4,742 SF mixed‑use property with separate residential and commercial components
- 1,748 SF residence with 1 Bed / 1 Bath; rented through Oct‑26
- 2,994 SF east‑side mixed‑use space with a drive‑in door
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
$66,791
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
5.18%
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%
$1,335,820
$1.3M
Cap Rate 7%
$954,157
$954.2K
Cap Rate 9%
$742,122
$742.1K
Market Conditions
NOI Build-Up for 4,742 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
$113.8K $24.00/SF
− Vacancy
−$6.9K −$1.46/SF
EGI
$106.9K $22.54/SF
− OpEx
−$40.1K −$8.45/SF
NOI
$66.8K $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%
$1,335,820
Cap Rate 7%
$954,157
Cap Rate 9%
$742,122
Alternative Uses
Best Use
Mixed Use
$954.2K
$834.9K – $1.11M
NOI $66,791 @ 7.0% cap · market cap 5.18%
Second Best
Warehouse
$700.0K
$612.5K – $816.7K
NOI $49,002 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,668 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,340
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 Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-MX-5 zoning and a drive-in door support flexible commercial occupancy.
Where is this mixed-use property located?
The property is located at 2306 W 29th Avenue Denver, CO.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 4,742 SF mixed‑use property with separate residential and commercial components; 1,748 SF residence with 1 Bed / 1 Bath; rented through Oct‑26; 2,994 SF east‑side mixed‑use space with a drive‑in door
