3550 W 38th Ave. Retail Unit B, Denver, CO 80211

Listing Agency: AXIO Commercial Real Estate

Listed By: John Livaditis · License CO #40012677 Show Phone

Source: Crexi

Added: Nov 5 Changed: Nov 8 Last Checked: Nov 10 at 6:10AM

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Investment Insights

Based on property information with market context.

Plaza 38 is an 8,170-square-foot retail condominium at 3550 W. 38th Ave., Retail Unit B, in Denver’s West Highland neighborhood. The interior has existing buildouts suited to restaurant, bar, and retail configurations, along with commercial kitchen equipment and infrastructure.

A liquor license, cabaret license, and extensive furniture, fixtures, and equipment are available for transfer upon sale. The property is identified as a mixed-use asset with retail space.

Key Highlights

• 8,170 SF retail condominium at 3550 W. 38th Ave., Retail Unit B
• Existing buildouts support restaurant, bar, and retail uses
• Commercial kitchen equipment and infrastructure in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,827

Cap Rate

3.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,396,540 $2.4M

Cap Rate 7%

$1,711,814 $1.7M

Cap Rate 9%

$1,331,411 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,170 SF

Gross rent

$167.6K $20.52/SF

− Vacancy

−$7.9K −$0.96/SF

EGI

$159.8K $19.56/SF

− OpEx

−$39.9K −$4.89/SF

NOI

$119.8K $14.67/SF

Area

Denver, CO

Vacancy

4.70%

Lease Rate

$20.52 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,396,540

Cap Rate 7%

$1,711,814

Cap Rate 9%

$1,331,411

Alternative Uses

Best Use

Specialty Retail

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,827 @ 7.0% cap · market cap 3.42%

Second Best

Mixed Use

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,074 @ 7.0% cap · market cap 3.29%

Theoretical Best

Office A

$2.60M

$2.28M – $3.03M (±1% cap)

NOI $182,056 @ 7.0% cap · market cap 5.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Hair Salon Nail Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

564

Businesses Nearby

309k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 34% Shops & Services 26% Groceries 17% Apparel 12%

King Soopers Groceries

53,195 visits/mo 0.4 miles

Chick-fil-A Dining

44,472 visits/mo 0.3 miles

Sierra Apparel

37,492 visits/mo 0.3 miles

Hobby Lobby Shops & Services

34,086 visits/mo 0.2 miles

HomeGoods Home Improvements & Furnishings

28,673 visits/mo 0.3 miles

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

Average Price Trend$/SF for Mixed-use properties in Denver, CO

$464 Jul

$472 Aug

$421 Sep

$428 Oct

Properties on Market for Mixed-use properties in Denver

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Denver, CO

6.7% 2019

7.4% 2020

6.5% 2021

5.4% 2022

5.2% 2023

4.8% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Existing buildouts support restaurant, bar, and retail configurations, with commercial kitchen equipment and infrastructure in place.

Where is this mixed-use property located?

The property is located at 3550 W 38th Ave. Retail Unit B Denver, CO.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 8,170 SF retail condominium at 3550 W. 38th Ave., Retail Unit B; Existing buildouts support restaurant, bar, and retail uses; Commercial kitchen equipment and infrastructure in place