Denver Former Restaurant
For Sale
Contact for pricing
2403 Champa St, Denver, CO 80205
24,000 SF former restaurant on 0.85-acre infill site.
Property Size24,000 SF
Lot Size0.85 Acres
Price / SF$208.33
Days on Market184
Property Features for 2403 Champa St
General Information
Standard status
Active
Size
24,000 SF
Lot size
0.85 Acres
Property subtype
Retail
Zoning
D-AS (Up to 80')
Building Details
Year Built
1970
Year Renovated
2018
Buildings
1
Stories
2
Units
1
Listing Agency:
Unique Properties, Inc
(303) 321-5888
Listed By:
Tanner Gillis · License #100098120
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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, Inc
Investment Insights
Based on property information with market context.
This stand-alone, approximately 24,000 square foot former restaurant is situated on a 0.85-acre infill site in Denver's urban core. The property presents a rare opportunity for a large-format restaurant, brewery, food hall, or experiential retail concept. It features strong visibility, dual alley access, ample parking, and a large lot footprint. Its location near the North Broadway corridor and dense residential development supports strong daytime and evening demand. The site offers outdoor seating potential and long-term repositioning or vertical redevelopment upside. The property is located in one of Denver's most dynamic growth corridors.
Key Highlights
- Large ±24,000 SF stand‑alone building on a 0.85‑acre infill site in Denver's urban core.
- Rare opportunity for a large‑format restaurant, brewery, food hall, or experiential retail concept.
- Ample parking and dual alley ingress/egress.
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
$352,000
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
7.04%
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%
$7,040,000
$7.0M
Cap Rate 7%
$5,028,571
$5.0M
Cap Rate 9%
$3,911,111
$3.9M
Market Conditions
NOI Build-Up for 24,000 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
$492.5K $20.52/SF
− Vacancy
−$23.1K −$0.96/SF
EGI
$469.3K $19.56/SF
− OpEx
−$117.3K −$4.89/SF
NOI
$352.0K $14.67/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /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%
$7,040,000
Cap Rate 7%
$5,028,571
Cap Rate 9%
$3,911,111
Alternative Uses
Best Use
Specialty Retail
$5.03M
$4.40M – $5.87M
NOI $352,000 @ 7.0% cap · market cap 7.04%
Second Best
Retail
$4.69M
$4.11M – $5.48M
NOI $328,533 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$7.64M
$6.69M – $8.91M
NOI $534,804 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,868
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Apparel 30%
Patagonia
Apparel
2,659 visits/mo
0.3 miles
U.S. Bank
Shops & Services
2,474 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
2,227 visits/mo
0.2 miles
Hertz
Shops & Services
1,050 visits/mo
0.5 miles
Public Storage
Shops & Services
512 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Denver Catering Group — 1050 17th St, Denver, CO 80265
- Epicurean Catering at the Denver Center for the Performing Arts — 1101 13th St #5319, Denver, CO 80204
- Maines Paper & Food Services Inc — 1050 15th st, denver, co 80202
- Boney's BBQ (Catering Only) — 1543 Champa St, Denver, CO 80202
- Taco Bron! — 950 17th St #110, Denver, CO 80202
Frequently Asked Questions
What type of property is this?
Restaurant - 24,000 SF former restaurant on 0.85-acre infill site.
Where is this restaurant located?
The property is located at 2403 Champa St Denver, CO.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Large ±24,000 SF stand‑alone building on a 0.85‑acre infill site in Denver's urban core.; Rare opportunity for a large‑format restaurant, brewery, food hall, or experiential retail concept.; Ample parking and dual alley ingress/egress.
