Unique Denver Live/Work
For Sale
$1,900,000
2345 S Platte River Dr, Denver, CO 80223
Versatile live/work space designed for creators and entrepreneurs.
Property Size5,200 SF
Days on Market273
Property Features for 2345 S Platte River Dr
General Information
Standard status
Active
Size
5,200 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$20,665
Building Details
Building Size
5,200 SF
Year Built
1970
Listing Agency:
Structure Property Group LLC
Listed By:
James Graham
(303) 548-7825
Source:
Corken
Added: Dec 11, 2025
Changed: Sep 4
Last Checked: Sep 9 at 9:58AM
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 Structure Property Group LLC
Investment Insights
Based on property information with market context.
This distinctive and versatile live/work space is designed for creators, performers, entrepreneurs, and those seeking a unique environment. It offers an exceptional range of uses, serving as an event venue, private rehearsal studio, podcast production space, artistic retreat, or a remarkable home with extraordinary amenities. The main living area features a large performance stage, complete with a house speaker system, professional mixing board, and dedicated sound board room. A bar area is positioned for hosting. A professionally built vocal booth with soundproofing provides an ideal setting for recording or content creation. The primary bedroom includes a walk-in closet and a custom-designed spa bathroom. An additional dressing room can function as a second bedroom. A dedicated gym space with workout equipment enhances the live/work convenience. The designer gourmet kitchen is outfitted with professional-grade appliances, ideal for culinary enthusiasts or on-site catering needs. A drive-in garage offers ample room for projects, vehicles, or storage of specialty equipment. The exterior includes fully fenced parking. The rooftop offers panoramic views of the Denver skyline and the Rocky Mountains. The property has a bike score of 81, indicating it is very bikeable, a walk score of 84, indicating it is very walkable, and a transit score of 58, indicating good transit.
Key Highlights
- Versatile live/work space suitable for event venue, studio, retreat, or unique home.
- Large performance stage with house speaker system, mixing board, and sound board room.**
- Rooftop with panoramic Denver skyline and Rocky Mountain views.**
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
$76,190
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
4.01%
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%
$1,523,800
$1.5M
Cap Rate 7%
$1,088,429
$1.1M
Cap Rate 9%
$846,556
$846.6K
Market Conditions
NOI Build-Up for 5,200 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
$137.3K $26.40/SF
− Vacancy
−$35.7K −$6.86/SF
EGI
$101.6K $19.54/SF
− OpEx
−$25.4K −$4.88/SF
NOI
$76.2K $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%
$1,523,800
Cap Rate 7%
$1,088,429
Cap Rate 9%
$846,556
Alternative Uses
Best Use
Office B
$1.09M
$952.4K – $1.27M
NOI $76,190 @ 7.0% cap · market cap 4.01%
Second Best
Mixed Use
$1.05M
$915.5K – $1.22M
NOI $73,242 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,874 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,246
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
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 Office in Denver, CO
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Frequently Asked Questions
What type of property is this?
Live-work space - Versatile live/work space designed for creators and entrepreneurs.
Where is this live-work space located?
The property is located at 2345 S Platte River Dr Denver, CO.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Versatile live/work space suitable for event venue, studio, retreat, or unique home.; Large performance stage with house speaker system, mixing board, and sound board room.**; Rooftop with panoramic Denver skyline and Rocky Mountain views.**
