RiNo Mixed-Use
For Sale
$645,000
3295 Blake Street #102, Denver, CO 80205
Modern live/work condo in RiNo, ideal for creative or retail.
Property Size1,596 SF
Price / SF$404.14
Days on Market477
Property Features for 3295 Blake Street #102
General Information
Standard status
Active
Size
1,596 SF
Taxes and HOA fees
Annual Taxes
$3,318
Building Details
Year Built
2001
Listing Agency:
MILEHIMODERN
Listed By:
JAKE SUFFIAN · License #100053069
(720) 471-2056
Source:
Corcoran
Added: May 17, 2025
Changed: Mar 16
Last Checked: Aug 24 at 8:24AM
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 mixed-use zoned condo, currently utilized as a private residence, is suitable for live/work or business scenarios such as creative studios, boutique firms, or retail concepts. The property features new hardwood floors, custom concrete countertops, and a glass-topped kitchen island. Designer Samsung appliances, a wine fridge, and a plumbed coffee station enhance the kitchen, while an instant hot water line adds convenience. Walls and ceilings have been renewed, with recessed dimmable lighting and smart switches. The downstairs area is wired for sound, and upgraded Wi-Fi and networking components are hardwired upstairs. Updated systems include air conditioning, heating, a hot water heater, and new electrical throughout. Motorized shades, new windows, sliding glass doors, and ceiling fans are installed. The property size is 1596 square feet.
Key Highlights
- Mixed‑use zoning in RiNo allows for live/work or business scenarios.
- Completely renovated with new hardwood floors, custom concrete countertops, and designer appliances.
- Updated systems include new AC, heating, hot water heater, and electrical.
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
3.63%
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 3.63%
Second Best
Mixed Use
$321.1K
$281.0K – $374.7K
NOI $22,480 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$508.1K
$444.6K – $592.7K
NOI $35,564 @ 7.0% cap · market cap 5.51%
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 - Modern live/work condo in RiNo, ideal for creative or retail.
Where is this live-work space located?
The property is located at 3295 Blake Street #102 Denver, CO.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Mixed‑use zoning in RiNo allows for live/work or business scenarios.; Completely renovated with new hardwood floors, custom concrete countertops, and designer appliances.; Updated systems include new AC, heating, hot water heater, and electrical.
