Creative Space in RiNo
For Sale
Contact for pricing
3457 Ringsby Ct, Denver, CO 80216
Mixed-use commercial condo in Denver's vibrant RiNo Arts District.
Property Size1,890 SF
Price / SF$369.84
Days on Market1251
Property Features for 3457 Ringsby Ct
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Office
Zoning
C-MX-8
Building Details
Year Built
2007
Listing Agency:
The Henry Group LLC
Listed By:
Boston Weir · License #CO FA.100075124
(720) 638-5520
Source:
Crexi
Added: Apr 11, 2023
Changed: Sep 2
Last Checked: Sep 12 at 3:45AM
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 The Henry Group LLC
Investment Insights
Based on property information with market context.
Located at 3457 Ringsby Court, Suite 209, Denver, CO 80216, this 1,890 square foot unit is available for sale and lease within the TAXI campus. The TAXI campus is a mixed-use community designed for social and creative collaboration in Denver's River North Arts District (RiNo). Constructed between 2001 and 2018, the TAXI campus includes 9 buildings, approximately 150 businesses, and around 300 residents. Suite 209 is situated in TAXI 2, a 100,000 square foot building featuring four floors of commercial and residential condos. Seller financing is available. The lease rate is $5,000 per month gross.
Key Highlights
- Located in the heart of Denver's RiNo (River North Arts District), a vibrant and desirable location.
- Situated within the TAXI campus, a large, established mixed‑use community with a focus on social and creative collaboration.
- Unit 209 offers 1,890 SF of space suitable for various commercial or residential uses.
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
$27,692
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
3.96%
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%
$553,840
$553.8K
Cap Rate 7%
$395,600
$395.6K
Cap Rate 9%
$307,689
$307.7K
Market Conditions
NOI Build-Up for 1,890 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
$49.9K $26.40/SF
− Vacancy
−$13.0K −$6.86/SF
EGI
$36.9K $19.54/SF
− OpEx
−$9.2K −$4.88/SF
NOI
$27.7K $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%
$553,840
Cap Rate 7%
$395,600
Cap Rate 9%
$307,689
Alternative Uses
Best Use
Office B
$395.6K
$346.2K – $461.5K
NOI $27,692 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$601.7K
$526.5K – $701.9K
NOI $42,116 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,638
Businesses Nearby
Explore this area
Business Placement
Demographics for 80216, CO
15,915
Population
6,924
Households
2.3
Avg Household Size
31
Median Age
38%
College-Educated
76%
High-School Grad
10.1 sq mi
ZIP Area
1,576
Density / Sq Mi
$86,869
Median Household Income
$49,966
Median Earnings
$1,934
Median Rent
$392,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Denver, CO
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Frequently Asked Questions
What type of property is this?
Office units - Mixed-use commercial condo in Denver's vibrant RiNo Arts District.
Where is this office units located?
The property is located at 3457 Ringsby Ct Denver, CO.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Located in the heart of Denver's RiNo (River North Arts District), a vibrant and desirable location.; Situated within the TAXI campus, a large, established mixed‑use community with a focus on social and creative collaboration.; Unit 209 offers **1,890 SF of space** suitable for various commercial or residential uses.
