Colfax Avenue Retail/Office
For Sale
Contact for pricing
3500 E Colfax Ave, Denver, CO 80206
Highly visible retail or office space on East Colfax Avenue.
Property Size1,796 SF
Price / SF$417.59
Days on Market154
Property Features for 3500 E Colfax Ave
General Information
Standard status
Active
Size
1,796 SF
Property subtype
Retail
Zoning
U-MS-5
Investment Type
Owner/User
Building Details
Year Built
2008
Buildings
1
Stories
5
Listing Agency:
Keller Williams Realty DTC Llc
(303) 771-7500
Listed By:
Jennifer Mussato · License #CO FA100038131
Source:
Crexi
Added: Mar 23
Changed: Aug 10
Last Checked: Aug 23 at 6:43AM
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 Keller Williams Realty DTC Llc
Investment Insights
Based on property information with market context.
Located along one of Denver’s most recognizable commercial corridors, the property at 3500 E Colfax Avenue, Unit B, offers 1,796 square feet of street-level retail or professional services space. The unit is situated within Blueprint Condos, a mixed-use building with residential units above. The property benefits from direct frontage on Colfax Avenue, experiencing strong daily traffic. Immediate access to the new Bus Rapid Transit line is available, with a station located directly in front of the property. The space features expansive glass storefront windows, providing natural light and visibility for signage and branding. The property includes secure, gated, reserved parking for owners and tenants. The surrounding area is supported by dense residential neighborhoods and consumer activity, with nearby anchors including Sprouts Farmers Market across the street and National Jewish Health a few blocks away. It is suited for boutique retail, medical or wellness users, professional services, or office users seeking a central Denver location with exposure and accessibility.
Key Highlights
- Highly visible, street‑level retail/professional space on Colfax Avenue with strong traffic counts.
- Direct access to the new Bus Rapid Transit line with a station directly in front of the property.
- Secure, gated, reserved parking for owners and tenants, a rare amenity for this corridor.
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
$24,585
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
3.28%
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%
$491,700
$491.7K
Cap Rate 7%
$351,214
$351.2K
Cap Rate 9%
$273,167
$273.2K
Market Conditions
NOI Build-Up for 1,796 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
$36.9K $20.52/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$35.1K $19.56/SF
− OpEx
−$10.5K −$5.87/SF
NOI
$24.6K $13.69/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /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%
$491,700
Cap Rate 7%
$351,214
Cap Rate 9%
$273,167
Alternative Uses
Best Use
Retail
$351.2K
$307.3K – $409.8K
NOI $24,585 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$571.7K
$500.3K – $667.0K
NOI $40,021 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
120k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 41%
Groceries 18%
Chick-fil-A
Dining
30,655 visits/mo
0.1 miles
Sprouts Farmers Market
Groceries
22,178 visits/mo
0.1 miles
Phillips 66
Shops & Services
21,236 visits/mo
0.3 miles
Good Times Burgers & Frozen Custard
Dining
8,161 visits/mo
0.2 miles
Starbucks
Dining
8,120 visits/mo
0.4 miles
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Highly visible retail or office space on East Colfax Avenue.
Where is this retail space located?
The property is located at 3500 E Colfax Ave Denver, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Highly visible, street‑level retail/professional space on Colfax Avenue with strong traffic counts.; Direct access to the new Bus Rapid Transit line with a station directly in front of the property.; Secure, gated, reserved parking for owners and tenants, a rare amenity for this corridor.
