Building Details

Year Built 1900

Buildings 2

Stories 1

Units 2

Tenancy Multi

Listing Agency: Marcus & Millichap - Denver

Listed By: Charles Burkhart · License #FA100103787

Source: Crexi

Added: Aug 28 Changed: Oct 21 Last Checked: Oct 24 at 5:12PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,619

Cap Rate

3.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$552,380 $552.4K

Cap Rate 7%

$394,557 $394.6K

Cap Rate 9%

$306,878 $306.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,819 SF

Gross rent

$53.5K $29.40/SF

− Vacancy

−$3.3K −$1.79/SF

EGI

$50.2K $27.61/SF

− OpEx

−$22.6K −$12.42/SF

NOI

$27.6K $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 Rate 5%

$552,380

Cap Rate 7%

$394,557

Cap Rate 9%

$306,878

Alternative Uses

Best Use

Apartment 5plus

$394.6K

$345.2K – $460.3K (±1% cap)

NOI $27,619 @ 7.0% cap · market cap 3.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$579.1K

$506.7K – $675.6K (±1% cap)

NOI $40,534 @ 7.0% cap · market cap 5.07%

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

Property Analytics

Suggested Use

Top Pick Law Firm Dental Office Accounting Firm Kitchen & Bath Showroom Daycare Center Plumbing Service

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

Location Intelligence

Trade Area within ½ mile

610

Businesses Nearby

Explore this area Business Placement

Demographics for 80221, CO

42,224

Population

15,165

Households

2.8

Avg Household Size

34

Median Age

28%

College-Educated

84%

High-School Grad

9.1 sq mi

ZIP Area

4,640

Density / Sq Mi

$84,425

Median Household Income

$42,720

Median Earnings

$1,642

Median Rent

$449,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

Where is this residential land & home lot located?

The property is located at 4975-4979 N King St Denver, CO.

What is the asking price?

The asking price for this property is $800,000.