Duplex with Rooftop
For Sale
$979,000
3451 Tejon St, Denver, CO 80211
Three-level layout includes ensuite bedrooms, a private backyard, and updated interior finishes.
Property Size1,866 SF
Days on Market69
Property Features for 3451 Tejon St
General Information
Standard status
Active
Size
1,866 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,738
Amenities
fireplace
covered rooftop deck
private backyard
wet bar
beverage refrigerator
Building Details
Building Size
1,866 SF
Year Built
2018
Listing Agency:
Compass - Denver
(515) 720-2136
Listed By:
Nicole Keiller
(515) 720-2136
Source:
Corken
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 30 at 11:50PM
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 Compass - Denver
Investment Insights
Based on property information with market context.
Built in 2018, this three-level duplex features an open main floor with wide-plank hardwood flooring, a fireplace, and sliding glass doors leading to a private backyard. The kitchen includes dark cabinetry, quartz countertops, stainless steel appliances, pendant lighting, and an island with seating, preparation space, and storage. Multiple bedroom retreats include ensuite bathrooms, while the primary suite adds a walk-in closet, dual vanities, designer tile, and a glass-enclosed shower.
The upper level includes an oversized bedroom retreat, attached bathroom, wet bar, and beverage refrigerator. A covered rooftop deck extends the entertaining area and offers neighborhood views. Recent updates include new sod, carpeting, refinished main-level hardwood flooring, and interior paint. The property is near Denver’s LoHi district, Coors Field, restaurants, breweries, and local boutiques.
The upper level includes an oversized bedroom retreat, attached bathroom, wet bar, and beverage refrigerator. A covered rooftop deck extends the entertaining area and offers neighborhood views. Recent updates include new sod, carpeting, refinished main-level hardwood flooring, and interior paint. The property is near Denver’s LoHi district, Coors Field, restaurants, breweries, and local boutiques.
Key Highlights
- Three‑level duplex built in 2018
- Kitchen with quartz countertops, stainless steel appliances, and island seating
- Multiple ensuite bedrooms, including a primary suite with walk‑in closet
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
$31,010
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
3.17%
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%
$620,200
$620.2K
Cap Rate 7%
$443,000
$443.0K
Cap Rate 9%
$344,556
$344.6K
Market Conditions
NOI Build-Up for 1,866 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
$47.0K $25.20/SF
− Vacancy
−$2.7K −$1.46/SF
EGI
$44.3K $23.74/SF
− OpEx
−$13.3K −$7.12/SF
NOI
$31.0K $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%
$620,200
Cap Rate 7%
$443,000
Cap Rate 9%
$344,556
Alternative Uses
Best Use
Multifamily LT 5
$443.0K
$387.6K – $516.8K
NOI $31,010 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$404.8K
$354.2K – $472.2K
NOI $28,333 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$594.0K
$519.8K – $693.0K
NOI $41,581 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-level layout includes ensuite bedrooms, a private backyard, and updated interior finishes.
Where is this duplex located?
The property is located at 3451 Tejon St Denver, CO.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Three‑level duplex built in 2018; Kitchen with quartz countertops, stainless steel appliances, and island seating; Multiple ensuite bedrooms, including a primary suite with walk‑in closet
