Renovated Mixed-Use Creative
For Sale
Contact for pricing
3264 Larimer St, Denver, CO 80205
Warehouse conversion combines office and retail functions with mezzanine space and street-facing glass garage-door exposure.
Property Size8,503 SF
Price / SF$270.49
Days on Market13
Property Features for 3264 Larimer St
General Information
Standard status
Active
Size
8,503 SF
Property subtype
Multifamily, Office, Mixed Use
Zoning
I-MX-3, UO-2, DO-7
Building Details
Year Built
1959
Units
4
Listing Agency:
Pinnacle Real Estate Advisors
(303) 962-9552
Listed By:
Peter Sengelmann · License #CO FA.100043607
Source:
Crexi
Added: Jul 30
Changed: Aug 3
Last Checked: Aug 10 at 3:30PM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
Located at 3264 Larimer Street in Denver’s RiNo district, this 8,503-square-foot mixed-use property was originally built in 1959 and has been renovated into a creative office and retail environment. The building retains warehouse character while adding a mezzanine, exposed high ceilings, and a street-facing glass garage door that connects the retail area with Larimer Street.
Zoning is I-MX-3, UO-2, and DO-7. The property’s configuration supports a combination of office, retail, and creative commercial functions within a single building. Its address places the asset in RiNo, an urban Denver district known in the source material for its cultural and industrial character.
Zoning is I-MX-3, UO-2, and DO-7. The property’s configuration supports a combination of office, retail, and creative commercial functions within a single building. Its address places the asset in RiNo, an urban Denver district known in the source material for its cultural and industrial character.
Key Highlights
- 8,503‑square‑foot mixed‑use property at 3264 Larimer Street in Denver, CO 80205
- Renovated warehouse‑style building with office and retail components
- Mezzanine level and exposed high ceilings
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
$124,586
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
5.42%
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%
$2,491,720
$2.5M
Cap Rate 7%
$1,779,800
$1.8M
Cap Rate 9%
$1,384,289
$1.4M
Market Conditions
NOI Build-Up for 8,503 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
$224.5K $26.40/SF
− Vacancy
−$58.4K −$6.86/SF
EGI
$166.1K $19.54/SF
− OpEx
−$41.5K −$4.88/SF
NOI
$124.6K $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%
$2,491,720
Cap Rate 7%
$1,779,800
Cap Rate 9%
$1,384,289
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,586 @ 7.0% cap · market cap 5.42%
Second Best
Mixed Use
$1.71M
$1.50M – $2.00M
NOI $119,765 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,477 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,935
Businesses Nearby
Explore this area
Business Placement
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 Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Warehouse conversion combines office and retail functions with mezzanine space and street-facing glass garage-door exposure.
Where is this mixed-use property located?
The property is located at 3264 Larimer St Denver, CO.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 8,503‑square‑foot mixed‑use property at 3264 Larimer Street in Denver, CO 80205; Renovated warehouse‑style building with office and retail components; Mezzanine level and exposed high ceilings
