RiNo Live/Work
For Sale
$519,000
3295 Blake St 102, Denver, CO 80205
Updated live/work property in Denver's dynamic arts district.
Property Size1,596 SF
Days on Market129
Property Features for 3295 Blake St 102
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,318
Building Details
Building Size
1,596 SF
Year Built
2001
Stories
2
Units
1
Listing Agency:
Milehimodern
(720) 471-2056
Listed By:
Jake Suffian · License #100053069
(720) 471-2056
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Aug 29 at 11:07AM
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 Milehimodern
Investment Insights
Based on property information with market context.
This updated live/work property is located in the heart of the RiNo arts district. The property offers a mixed-use opportunity with flexible zoning that supports a range of residential or professional uses. The space features hardwood floors, custom concrete countertops, and a glass-topped island. Designer Samsung appliances, a wine fridge, and a plumbed coffee station are included. Walls and ceilings have been updated with recessed, dimmable lighting and smart switches. The lower level is wired for sound, and hardwired Wi-Fi and networking support connectivity. Mechanical systems have been updated, including air conditioning, heating, a newer hot water heater, and upgraded electrical throughout. Motorized shades, updated windows, sliding glass doors, and ceiling fans are present. HOA dues cover water, sewer, landscaping, building and roof maintenance, driveway upkeep, snow removal, insurance, and capital reserves. The location has a bike score of 98, a walk score of 93, and a transit score of 57.
Key Highlights
- Prime RiNo Location: Situated in the heart of Denver's vibrant arts district, offering a dynamic live/work environment.
- Flexible Mixed‑Use Zoning: Supports a wide range of residential or professional uses.
- Comprehensive HOA Coverage: HOA dues cover water, sewer, landscaping, building and roof maintenance, driveway upkeep, snow removal, insurance, and capital reserves.
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
$23,385
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
4.51%
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%
$467,700
$467.7K
Cap Rate 7%
$334,071
$334.1K
Cap Rate 9%
$259,833
$259.8K
Market Conditions
NOI Build-Up for 1,596 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
$42.1K $26.40/SF
− Vacancy
−$11.0K −$6.86/SF
EGI
$31.2K $19.54/SF
− OpEx
−$7.8K −$4.88/SF
NOI
$23.4K $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%
$467,700
Cap Rate 7%
$334,071
Cap Rate 9%
$259,833
Alternative Uses
Best Use
Office B
$334.1K
$292.3K – $389.8K
NOI $23,385 @ 7.0% cap · market cap 4.51%
Second Best
Mixed Use
$321.1K
$281.0K – $374.7K
NOI $22,480 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$508.1K
$444.6K – $592.7K
NOI $35,564 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,624
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Updated live/work property in Denver's dynamic arts district.
Where is this live-work space located?
The property is located at 3295 Blake St 102 Denver, CO.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Prime RiNo Location: Situated in the heart of Denver's vibrant arts district, offering a dynamic live/work environment.; Flexible Mixed‑Use Zoning: Supports a wide range of residential or professional uses.; Comprehensive HOA Coverage: HOA dues cover water, sewer, landscaping, building and roof maintenance, driveway upkeep, snow removal, insurance, and capital reserves.
