South-Facing Corner Lot
For Sale
$999,500
2596 S Bannock St, Denver, CO 80223
Multi-level duplex with mountain views, private outdoor space, and detailed interior finishes.
Property Size3,228 SF
Days on Market71
Property Features for 2596 S Bannock St
General Information
Standard status
Active
Size
3,228 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,851
Amenities
private patio/yard
wet bar
Building Details
Building Size
3,228 SF
Year Built
2020
Stories
3
Listing Agency:
Scout Real Estate Group
(720) 422-9935
Listed By:
Andrew W. Schiff
(720) 422-9935
Source:
Guidere
Added: Jun 3
Changed: Aug 5
Last Checked: Aug 11 at 1:05PM
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 Scout Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2020, this duplex occupies a south-facing corner lot and combines a multi-level floor plan with private patio and yard areas. Interior details include hardwood floors and stairs, quartz countertops, custom tile work, upgraded lighting, and wet bars. The main level offers expansive entertaining areas with broad patio doors opening toward the backyard.
The second floor contains 3 bedrooms, 2 bathrooms, and laundry facilities. A third-floor bonus room adds another wet bar and powder room, while the basement includes a family room, bedroom, and full bathroom. The property is positioned for walkability to restaurants, bars, and light rail, and the home is prewired for audio throughout.
The second floor contains 3 bedrooms, 2 bathrooms, and laundry facilities. A third-floor bonus room adds another wet bar and powder room, while the basement includes a family room, bedroom, and full bathroom. The property is positioned for walkability to restaurants, bars, and light rail, and the home is prewired for audio throughout.
Key Highlights
- South‑facing corner‑lot duplex built in 2020
- 3 bedrooms, 2 bathrooms, and laundry on the second floor
- Third‑floor bonus room with wet bar and powder room
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
$53,645
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
5.37%
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%
$1,072,900
$1.1M
Cap Rate 7%
$766,357
$766.4K
Cap Rate 9%
$596,056
$596.1K
Market Conditions
NOI Build-Up for 3,228 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
$81.3K $25.20/SF
− Vacancy
−$4.7K −$1.46/SF
EGI
$76.6K $23.74/SF
− OpEx
−$23.0K −$7.12/SF
NOI
$53.6K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /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%
$1,072,900
Cap Rate 7%
$766,357
Cap Rate 9%
$596,056
Alternative Uses
Best Use
Multifamily LT 5
$766.4K
$670.6K – $894.1K
NOI $53,645 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$700.2K
$612.7K – $816.9K
NOI $49,013 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,931 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,850
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multi-level duplex with mountain views, private outdoor space, and detailed interior finishes.
Where is this duplex located?
The property is located at 2596 S Bannock St Denver, CO.
What is the asking price?
The asking price for this property is $999,500.
What are key features of this property?
This property features: South‑facing corner‑lot duplex built in 2020; 3 bedrooms, 2 bathrooms, and laundry on the second floor; Third‑floor bonus room with wet bar and powder room
