Denver Redevelopment Opportunity on
531 N Broadway Denver, CO 80203
For Sale
$5,950,000
48,000+ SF building suitable for redevelopment or adaptive reuse.
Property Size48,000 SF
Price / SF$123.96
Days on Market94
Property Features for 531 N Broadway
General Information
- Standard status
- Active
- Size
- 48,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing Agency:
Kentwood Real Estate City Properties
(303) 472-2150
Listed By:
Jay Modglin · License #EA100012712
(303) 472-2150
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 5:02AM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $633.6k | $13.20 |
| − Vacancy | −$50.1k | −$1.04 |
| EGI | $583.5k | $12.16 |
| − OpEx | −$87.5k | −$1.82 |
| NOI | $496.0k | $10.33 |
48,000 SF · lease $13.20/SF/yr · vacancy 7.90% · expense 15.00%
Alternative Uses
Best Use
Retail
$9.39M
$8.21M – $10.95M
NOI $657,067 @ 7.0% cap · market cap 11.04%
Second Best
Warehouse
$7.09M
$6.20M – $8.27M
NOI $496,014 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$15.28M
$13.37M – $17.83M
NOI $1,069,609 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sunflower Massage
Alternative Medicine Practice
Spearmint Massage
Spa & Massage Center
FAQs
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.
