Fully Leased Neighborhood Retail
For Sale
Contact for pricing
Pending
4924 E Colfax Ave, Denver, CO 80220
Fully leased multi-tenant retail property at a signalized intersection on East Colfax Avenue with 26,000 VPD.
Property Size9,740 SF
Days on Market138
Property Features for 4924 E Colfax Ave
General Information
Standard status
Pending
Size
9,740 SF
Property subtype
Retail
Zoning
U-MS-3
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$243,817
Site & Location
Traffic Count
26,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1931
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Blue West Capital
Listed By:
Sam Crowe · License #FA100069540
Source:
Crexi
Added: Apr 20
Changed: Aug 25
Last Checked: Aug 30 at 11:47PM
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 Blue West Capital
Investment Insights
Based on property information with market context.
Central Colfax Shops is a fully leased, multi-tenant retail property offering a mix of service retailers, a historic neighborhood bar, and a growing restaurant franchise. Several tenants have operated at the site for more than a decade, supporting a stable, established tenant mix within the center.
The property sits at the signalized intersection of E Colfax Avenue and Elm Street. East Colfax Avenue serves as a primary east–west corridor, with reported traffic of 26,000 VPD. Central Colfax Shops also provides convenient access to Colorado Boulevard, Monaco Parkway, I-70, and nearby employment centers including Rose Medical Center and Downtown Denver.
The East Colfax Bus Rapid Transit system is scheduled to begin operations in 2027, which may further enhance accessibility along the corridor.
The property sits at the signalized intersection of E Colfax Avenue and Elm Street. East Colfax Avenue serves as a primary east–west corridor, with reported traffic of 26,000 VPD. Central Colfax Shops also provides convenient access to Colorado Boulevard, Monaco Parkway, I-70, and nearby employment centers including Rose Medical Center and Downtown Denver.
The East Colfax Bus Rapid Transit system is scheduled to begin operations in 2027, which may further enhance accessibility along the corridor.
Key Highlights
- Fully leased multi‑tenant retail property at a signalized intersection on E Colfax Avenue and Elm Street in Denver, CO
- Located on E Colfax Avenue with 26,000 VPD traffic count
- Tenant mix includes service retailers, a historic neighborhood bar, and a growing restaurant franchise
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
$142,853
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
4.52%
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%
$2,857,060
$2.9M
Cap Rate 7%
$2,040,757
$2.0M
Cap Rate 9%
$1,587,256
$1.6M
Market Conditions
NOI Build-Up for 9,740 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
$199.9K $20.52/SF
− Vacancy
−$9.4K −$0.96/SF
EGI
$190.5K $19.56/SF
− OpEx
−$47.6K −$4.89/SF
NOI
$142.9K $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 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%
$2,857,060
Cap Rate 7%
$2,040,757
Cap Rate 9%
$1,587,256
Alternative Uses
Best Use
Specialty Retail
$2.04M
$1.79M – $2.38M
NOI $142,853 @ 7.0% cap · market cap 4.52%
Second Best
Retail
$1.90M
$1.67M – $2.22M
NOI $133,330 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,041 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
26,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 47%
Home Improvements & Furnishings 5%
Taco Bell
Dining
9,281 visits/mo
0.2 miles
Circle K
Shops & Services
8,202 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
5,146 visits/mo
0.3 miles
AutoZone
Shops & Services
4,873 visits/mo
0.2 miles
Wingstop
Dining
4,407 visits/mo
0.2 miles
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jersey Shoppette — 900 Jersey St, Denver, CO 80220
- Mayfair Plaza Shopping Center — 1385 Krameria St, Denver, CO 80220
- Coinstar Kiosk | Bitcoin ATM — 6220 E 14th Ave Safeway, Denver, CO 80220
- Coinstar Kiosk | Bitcoin ATM — Kroger - King Soopers, 1355 Krameria St, Denver, CO 80220
- Krameria — 6151-6199 E Colfax Ave, Denver, CO 80220
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased multi-tenant retail property at a signalized intersection on East Colfax Avenue with 26,000 VPD.
Where is this shopping center located?
The property is located at 4924 E Colfax Ave Denver, CO.
What is the asking price?
The asking price for this property is $3,160,000.
What are key features of this property?
This property features: Fully leased multi‑tenant retail property at a signalized intersection on E Colfax Avenue and Elm Street in Denver, CO; Located on E Colfax Avenue with 26,000 VPD traffic count; Tenant mix includes service retailers, a historic neighborhood bar, and a growing restaurant franchise
