RiNo Live/Work Mixed-Use
For Sale
$519,000
3295 Blake Street #102, Denver, CO 80205
Updated live/work property in Denver's dynamic RiNo arts district.
Property Size1,596 SF
Price / SF$325.19
Days on Market171
Property Features for 3295 Blake Street #102
General Information
Standard status
Active
Size
1,596 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,318
Amenities
Composition Roof
Near Public Transit
Building Details
Year Built
2001
Listing Agency:
MILEHIMODERN
(303) 876-1073
Listed By:
JAKE SUFFIAN · License #100053069
Source:
Corcoran
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 8 at 2:03PM
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.
Located in the heart of RiNo, this updated live/work property offers a mixed-use opportunity in Denver’s arts district. The flexible zoning supports a range of residential or professional uses. Rich hardwood floors extend throughout the property, while custom concrete countertops and a glass-topped island provide workspace. Designer Samsung appliances, a wine fridge, and a plumbed coffee station enhance daily operations. Walls and ceilings have been refreshed 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 strategically placed ceiling fans complete the redesign. The property offers infrastructure, flexibility, and a presence in one of Denver’s districts. The property size is 1596 square feet.
Key Highlights
- Prime RiNo location offers a dynamic live/work environment in Denver's arts district.
- Flexible zoning allows for diverse residential or professional uses.
- Updated mechanical systems ensure comfort and efficiency.
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated live/work property in Denver's dynamic RiNo arts district.
Where is this mixed-use property located?
The property is located at 3295 Blake Street #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 offers a dynamic live/work environment in Denver's arts district.; Flexible zoning allows for diverse residential or professional uses.; Updated mechanical systems ensure comfort and efficiency.
