Licensed Cannabis Cultivation and
For Sale
Contact for pricing
2490 W 2nd Avenue, Denver, CO 80223
Fully operational, licensed medical cannabis cultivation and retail facility.
Property Size8,199 SF
Price / SF$236
Days on Market175
Property Features for 2490 W 2nd Avenue
General Information
Standard status
Active
Size
8,199 SF
Class
B
Total Parking Spaces
10
Property subtype
Business for Sale, Industrial, Retail
Zoning
I-A (Industrial – City & County of Denver)
Investment Type
Owner/User
Building Details
Year Built
1980
Units
1
Listing Agency:
Shames Makovsky
(303) 842-5767
Listed By:
Joey Gargotto · License #CO FA100056043
Source:
Crexi
Added: Mar 3
Changed: Aug 19
Last Checked: Aug 23 at 5:23PM
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 Shames Makovsky
Investment Insights
Based on property information with market context.
This commercial property, comprising 8,199 square feet, is zoned and fully operational as a licensed medical cannabis cultivation and retail facility. The property is located in Denver, Colorado.
Key Highlights
- Zoned for Medical Cannabis Cultivation and Retail
- Fully Operational Licensed Facility
- Medical Cannabis Cultivation Use
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
$112,235
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
5.80%
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%
$2,244,700
$2.2M
Cap Rate 7%
$1,603,357
$1.6M
Cap Rate 9%
$1,247,056
$1.2M
Market Conditions
NOI Build-Up for 8,199 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
$168.2K $20.52/SF
− Vacancy
−$7.9K −$0.96/SF
EGI
$160.3K $19.56/SF
− OpEx
−$48.1K −$5.87/SF
NOI
$112.2K $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%
$2,244,700
Cap Rate 7%
$1,603,357
Cap Rate 9%
$1,247,056
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.87M
NOI $112,235 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,703 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Home Improvements & Furnishings 15%
Dining 7%
Electronics 2%
Conoco
Shops & Services
13,944 visits/mo
0.5 miles
7-Eleven
Shops & Services
10,339 visits/mo
0.5 miles
Grainger
Home Improvements & Furnishings
5,295 visits/mo
0.4 miles
Shell
Shops & Services
4,998 visits/mo
0.3 miles
Puerto Vallarta
Dining
2,745 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Cannabis property - Fully operational, licensed medical cannabis cultivation and retail facility.
Where is this cannabis property located?
The property is located at 2490 W 2nd Avenue Denver, CO.
What is the asking price?
The asking price for this property is $1,935,000.
What are key features of this property?
This property features: Zoned for Medical Cannabis Cultivation and Retail; Fully Operational Licensed Facility; Medical Cannabis Cultivation Use
