Duplex with Finished
New
For Sale
$850,000
3445 Tejon St, Denver, CO 80211
Updated kitchen appliances and a remodeled primary bath complement flexible living space.
Property Size2,400 SF
Days on Market4
Property Features for 3445 Tejon St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,597
Amenities
front porch
rear deck
xeriscaped yard
Building Details
Building Size
2,400 SF
Year Built
2003
Buildings
1
Listing Agency:
Milehimodern
Listed By:
Samantha Heyer
(781) 929-6200
Source:
Corken
Added: Sep 24
Changed: Sep 27
Last Checked: Sep 26 at 2:20PM
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.
Built in 2003, this duplex features an open living and dining area adjoining a kitchen with ample cabinetry and a subway tile backsplash. KitchenAid refrigerator and oven/range were updated in 2025, and a Bosch dishwasher was added in 2024. The main floor has a bedroom, while the upper-level primary suite includes vaulted ceilings, a desk nook, walk-in closet, and remodeled bathroom with a walk-in shower and dual vanity. The finished basement contains a recreation room, two bedrooms, a full bath, and storage. A front porch, xeriscaped yard, and rear deck provide outdoor space. Recent improvements include second-floor and basement carpet, an LG washer and dryer, an upstairs mini-split, and updated paint.
Tejon Street businesses nearby include Steam Espresso Bar, Senor Bear, Western Daughters, Nana's Dim Sum & Dumplings, and Bar Taco. The property also offers access to I-25 and I-70.
Tejon Street businesses nearby include Steam Espresso Bar, Senor Bear, Western Daughters, Nana's Dim Sum & Dumplings, and Bar Taco. The property also offers access to I-25 and I-70.
Key Highlights
- Duplex built in 2003
- Finished basement includes a recreation room, two bedrooms, full bath, and under‑stair storage
- Primary suite features vaulted ceilings, walk‑in closet, and remodeled bath with dual vanity and walk‑in shower
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
$39,885
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
4.69%
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%
$797,700
$797.7K
Cap Rate 7%
$569,786
$569.8K
Cap Rate 9%
$443,167
$443.2K
Market Conditions
NOI Build-Up for 2,400 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
$60.5K $25.20/SF
− Vacancy
−$3.5K −$1.46/SF
EGI
$57.0K $23.74/SF
− OpEx
−$17.1K −$7.12/SF
NOI
$39.9K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /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%
$797,700
Cap Rate 7%
$569,786
Cap Rate 9%
$443,167
Alternative Uses
Best Use
Multifamily LT 5
$569.8K
$498.6K – $664.8K
NOI $39,885 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$520.6K
$455.5K – $607.4K
NOI $36,441 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$764.0K
$668.5K – $891.3K
NOI $53,480 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchen appliances and a remodeled primary bath complement flexible living space.
Where is this duplex located?
The property is located at 3445 Tejon St Denver, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Duplex built in 2003; Finished basement includes a recreation room, two bedrooms, full bath, and under‑stair storage; Primary suite features vaulted ceilings, walk‑in closet, and remodeled bath with dual vanity and walk‑in shower
