Two-Unit Three-Bedroom
For Sale
$629,000
5201 Martin Luther King Blvd, Denver, CO 80207
Corner property with matching residences, each offering three bedrooms, one full bathroom, and connected living, dining, and kitchen areas.
Property Size1,946 SF
Days on Market69
Property Features for 5201 Martin Luther King Blvd
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,055
Building Details
Building Size
1,946 SF
Year Built
1961
Listing Agency:
Brokers Guild Homes
(303) 229-9044
Listed By:
Olabode Johnson
(303) 229-9044
Source:
Corken
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 5:03PM
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 Brokers Guild Homes
Investment Insights
Based on property information with market context.
Built in 1961, this duplex contains two matching residences. Each unit includes three bedrooms, one full bathroom, and a living and dining area positioned next to the kitchen, creating a consistent layout across both sides of the property.
The building occupies the corner of Martin Luther King Boulevard and Forrest and sits a few blocks from the former Stapleton airport. The location also provides access to Denver International Airport and downtown Denver. Both residences share the same three-bedroom, one-bath configuration, giving the property a straightforward two-unit layout.
The building occupies the corner of Martin Luther King Boulevard and Forrest and sits a few blocks from the former Stapleton airport. The location also provides access to Denver International Airport and downtown Denver. Both residences share the same three-bedroom, one-bath configuration, giving the property a straightforward two-unit layout.
Key Highlights
- Two‑unit duplex with matching floor plans
- Each residence includes 3 bedrooms and 1 full bathroom
- Living and dining area located adjacent to the kitchen in each unit
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
$32,340
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
5.14%
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%
$646,800
$646.8K
Cap Rate 7%
$462,000
$462.0K
Cap Rate 9%
$359,333
$359.3K
Market Conditions
NOI Build-Up for 1,946 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
$49.0K $25.20/SF
− Vacancy
−$2.8K −$1.46/SF
EGI
$46.2K $23.74/SF
− OpEx
−$13.9K −$7.12/SF
NOI
$32.3K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /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%
$646,800
Cap Rate 7%
$462,000
Cap Rate 9%
$359,333
Alternative Uses
Best Use
Multifamily LT 5
$462.0K
$404.3K – $539.0K
NOI $32,340 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$422.1K
$369.3K – $492.5K
NOI $29,547 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$619.5K
$542.1K – $722.7K
NOI $43,364 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
648
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner property with matching residences, each offering three bedrooms, one full bathroom, and connected living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 5201 Martin Luther King Blvd Denver, CO.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Two‑unit duplex with matching floor plans; Each residence includes 3 bedrooms and 1 full bathroom; Living and dining area located adjacent to the kitchen in each unit
