Denver Redevelopment Opportunity on
For Sale
$5,950,000
531 N Broadway, Denver, CO 80203
48,000+ SF building suitable for redevelopment or adaptive reuse.
Property Size48,023 SF
Price / SF$123.90
Days on Market273
Property Features for 531 N Broadway
General Information
Standard status
Active
Size
48,023 SF
Property subtype
Retail
Site & Location
Neighborhood
Baker
Taxes and HOA fees
Annual Taxes
$117,404
Building Details
Building Size
48,023 SF
Year Built
1925
Listing Agency:
Kentwood Real Estate City Properties
Listed By:
Jay Modglin · License #ER.100012712
(303) 472-2150
Source:
Zencasarealty
Added: Jan 25
Changed: Oct 15
Last Checked: Oct 24 at 10:26PM
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 Kentwood Real Estate City Properties
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Investment Insights
Based on property information with market context.
Located on a highly visible commercial corridor in Denver, this property offers over 48,000 square feet of space, presenting opportunities for redevelopment or adaptive reuse. Currently operating as a mini-storage facility with two small street-level retail tenants, the property is suitable for modernization or a transformative vertical project, taking advantage of the 8-story zoning. The building includes four drive-in doors, two accessible from Broadway and two from the alley, along with tall ceilings and dual access points. The upper level has an entrance on Broadway, while the lower level is accessed from the alley, providing separation for multi-tenant configurations, creative office spaces, warehouse-style uses, or future mixed-use concepts. Situated at the intersection of Baker, West Wash Park, the Santa Fe Arts District, and South Broadway, the property is surrounded by amenities and offers access to Downtown, Speer Blvd, and I-25. This location is suitable for developers, investors, and owner-users seeking long-term potential in a dynamic commercial area. The property has a bike score of 85, a walk score of 90, and a transit score of 51.
Key Highlights
- Over 48,000 sq ft in a highly visible commercial corridor.
- 8‑story zoning allows for transformative vertical development.
- Prime location at the intersection of Baker, West Wash Park, Santa Fe Arts District, and South Broadway.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$496,251
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,925,020
$9.9M
Cap Rate 7%
$7,089,300
$7.1M
Cap Rate 9%
$5,513,900
$5.5M
Market Conditions
NOI Build-Up for 48,023 SF
Gross rent
$633.9K $13.20/SF
− Vacancy
−$50.1K −$1.04/SF
EGI
$583.8K $12.16/SF
− OpEx
−$87.6K −$1.82/SF
NOI
$496.3K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,925,020
Cap Rate 7%
$7,089,300
Cap Rate 9%
$5,513,900
Alternative Uses
Best Use
Retail
$9.39M
$8.22M – $10.96M
NOI $657,382 @ 7.0% cap · market cap 11.05%
Second Best
Warehouse
$7.09M
$6.20M – $8.27M
NOI $496,251 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$15.29M
$13.38M – $17.84M
NOI $1,070,121 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,691
Businesses Nearby
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Business Placement
Demographics for 80203, CO
22,883
Population
16,887
Households
1.4
Avg Household Size
33
Median Age
69%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
20,803
Density / Sq Mi
$74,654
Median Household Income
$59,229
Median Earnings
$1,569
Median Rent
$462,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Denver, CO
Frequently Asked Questions
What type of property is this?
Self storage facility - 48,000+ SF building suitable for redevelopment or adaptive reuse.
Where is this self storage facility located?
The property is located at 531 N Broadway Denver, CO.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Over 48,000 sq ft in a highly visible commercial corridor.; 8‑story zoning allows for transformative vertical development.; Prime location at the intersection of Baker, West Wash Park, Santa Fe Arts District, and South Broadway.
