Residential Income Property with
For Sale
$697,500
3594 Grape St 2, Denver, CO 80207
New-construction front residence with a finished basement, kitchenette, and flexible lock-off configuration.
Property Size1,917 SF
Days on Market96
Property Features for 3594 Grape St 2
General Information
Standard status
Active
Size
1,917 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,750
Building Details
Building Size
1,917 SF
Year Built
2026
Listing Agency:
Apex Real Estate Solutions Llc
Listed By:
Austin Peterson · License #100006643
(720) 495-3516
Source:
Corken
Added: Jun 5
Changed: Sep 5
Last Checked: Sep 7 at 7:29AM
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 Apex Real Estate Solutions Llc
Investment Insights
Based on property information with market context.
This front residence is part of a four-duplex development planned for an 18,200-square-foot lot under E-TU-B zoning. The property is scheduled for completion in 2026 and offers three bedrooms, 3.5 bathrooms, and nearly 2,000 square feet of living space. A finished basement with 9-foot ceilings, kitchenette, and lock-off arrangement adds flexibility for a guest suite or separate rental use.
The property is located at 3594 Grape St in Denver’s Park Hill neighborhood, with access to City Park, the Denver Zoo, the Denver Museum of Nature & Science, Stanley Marketplace, The Shops at Northfield, and York Street Yards. Downtown Denver, RiNo, and major commuting routes are also accessible from the location.
The property is located at 3594 Grape St in Denver’s Park Hill neighborhood, with access to City Park, the Denver Zoo, the Denver Museum of Nature & Science, Stanley Marketplace, The Shops at Northfield, and York Street Yards. Downtown Denver, RiNo, and major commuting routes are also accessible from the location.
Key Highlights
- Part of a four‑duplex development on an 18,200 sq ft lot
- E‑TU‑B zoning with anticipated completion in 2026
- 3 bedrooms and 3.5 bathrooms in nearly 2,000 sq ft
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
$29,107
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
4.17%
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%
$582,140
$582.1K
Cap Rate 7%
$415,814
$415.8K
Cap Rate 9%
$323,411
$323.4K
Market Conditions
NOI Build-Up for 1,917 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
$56.4K $29.40/SF
− Vacancy
−$3.4K −$1.79/SF
EGI
$52.9K $27.61/SF
− OpEx
−$23.8K −$12.42/SF
NOI
$29.1K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$582,140
Cap Rate 7%
$415,814
Cap Rate 9%
$323,411
Alternative Uses
Best Use
Apartment 5plus
$415.8K
$363.8K – $485.1K
NOI $29,107 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.3K
$534.0K – $712.0K
NOI $42,718 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 80207, CO
21,170
Population
9,291
Households
2.3
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,428
Density / Sq Mi
$112,325
Median Household Income
$71,163
Median Earnings
$1,819
Median Rent
$661,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - New-construction front residence with a finished basement, kitchenette, and flexible lock-off configuration.
Where is this residential income property located?
The property is located at 3594 Grape St 2 Denver, CO.
What is the asking price?
The asking price for this property is $697,500.
What are key features of this property?
This property features: Part of a four‑duplex development on an 18,200 sq ft lot; E‑TU‑B zoning with anticipated completion in 2026; 3 bedrooms and 3.5 bathrooms in nearly 2,000 sq ft
