Neighborhood Retail Strip with
New
For Sale
$1,600,000
2870-2878 N Colorado Blvd. & 2864 N Colorado Blvd., Denver, CO 80207
Two adjacent suites offer separate or combined occupancy along Colorado Boulevard, with bus service nearby.
Property Size6,817 SF
Price / SF$248.91
Days on Market2
Property Features for 2870-2878 N Colorado Blvd. & 2864 N Colorado Blvd.
General Information
Standard status
Active
Size
6,817 SF
Property subtype
Retail - Street Retail
Zoning
U-MS-3
Additional Details
Highway Access
Yes
Building Details
Building Size
6,817 SF
Tenancy
Multi
Listing Agency:
NAI Shames Makovsky
Listed By:
Solomon Stark
(303) 888-0002
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 2 at 1:07PM
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 NAI Shames Makovsky
Investment Insights
Based on property information with market context.
This neighborhood retail strip spans two parcels at 2864 and 2870–2878 N. Colorado Blvd. and contains 6,428 SF of retail space. Two adjacent suites of approximately 700 SF are available for lease individually or together, creating up to approximately 1,400 SF of contiguous space. Existing tenancy supports a multi-tenant configuration, while rear off-street parking serves the building. The property is also offered for sale and may accommodate an owner-user or leasing strategy, subject to the stated U-MS-3 zoning.
Located along Colorado Boulevard in Denver’s North Park Hill neighborhood, the property has direct corridor exposure and storefront signage opportunity. Bus service runs along Colorado Boulevard, with access to I-70, Park Hill, City Park, and Central Park. North/south connectivity is provided by Colorado Boulevard, with nearby east/west routes supporting regional access.
Located along Colorado Boulevard in Denver’s North Park Hill neighborhood, the property has direct corridor exposure and storefront signage opportunity. Bus service runs along Colorado Boulevard, with access to I-70, Park Hill, City Park, and Central Park. North/south connectivity is provided by Colorado Boulevard, with nearby east/west routes supporting regional access.
Key Highlights
- 6,428 SF neighborhood retail strip spanning two parcels
- Two adjacent approximately 700 SF suites available individually or together
- Up to approximately 1,400 SF of combined retail space
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
$87,992
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
5.50%
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%
$1,759,840
$1.8M
Cap Rate 7%
$1,257,029
$1.3M
Cap Rate 9%
$977,689
$977.7K
Market Conditions
NOI Build-Up for 6,428 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
$131.9K $20.52/SF
− Vacancy
−$6.2K −$0.96/SF
EGI
$125.7K $19.56/SF
− OpEx
−$37.7K −$5.87/SF
NOI
$88.0K $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%
$1,759,840
Cap Rate 7%
$1,257,029
Cap Rate 9%
$977,689
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.47M
NOI $87,992 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,238 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
310k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Groceries 21%
Dining 18%
Apparel 11%
King Soopers
Groceries
51,240 visits/mo
0.2 miles
Marshalls
Apparel
35,460 visits/mo
0.3 miles
Michaels
Shops & Services
30,228 visits/mo
0.2 miles
Target
Superstores
29,200 visits/mo
0.5 miles
Chick-fil-A
Dining
27,223 visits/mo
0.3 miles
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
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?
Strip mall - Two adjacent suites offer separate or combined occupancy along Colorado Boulevard, with bus service nearby.
Where is this strip mall located?
The property is located at 2870-2878 N Colorado Blvd. & 2864 N Colorado Blvd. Denver, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 6,428 SF neighborhood retail strip spanning two parcels; Two adjacent approximately 700 SF suites available individually or together; Up to approximately 1,400 SF of combined retail space
