Mixed-Use Property on
For Sale
Contact for pricing
66 S Broadway, Denver, CO 80209
Fully leased mixed-use property with apartments, retail, and flex space.
Property Size10,400 SF
Price / SF$260.10
Days on Market942
Property Features for 66 S Broadway
General Information
Standard status
Active
Size
10,400 SF
Class
C
Property subtype
Multifamily, Retail
Zoning
G-MS-5
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$204,677
Building Details
Year Built
1924
Year Renovated
2007
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
MHLRE
Listed By:
Dan Kargarzadeh · License #CO
(303) 505-5194
Source:
Crexi
Added: Feb 5, 2024
Changed: Sep 1
Last Checked: Aug 31 at 9:20PM
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 MHLRE
Investment Insights
Based on property information with market context.
This mixed-use property features four apartment units, two retail spaces, and one flex space. The property is currently 100% leased with loyal tenants. The building has a property size of 10400 square feet.
Key Highlights
- 100% Fully Leased, providing immediate income.
- Features four apartment units.
- Includes two retail spaces.
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
$172,834
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
6.39%
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%
$3,456,680
$3.5M
Cap Rate 7%
$2,469,057
$2.5M
Cap Rate 9%
$1,920,378
$1.9M
Market Conditions
NOI Build-Up for 10,400 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
$262.1K $25.20/SF
− Vacancy
−$15.2K −$1.46/SF
EGI
$246.9K $23.74/SF
− OpEx
−$74.1K −$7.12/SF
NOI
$172.8K $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%
$3,456,680
Cap Rate 7%
$2,469,057
Cap Rate 9%
$1,920,378
Alternative Uses
Best Use
Multifamily LT 5
$2.47M
$2.16M – $2.88M
NOI $172,834 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$2.26M
$1.97M – $2.63M
NOI $157,910 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,749 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 80209, CO
27,061
Population
16,045
Households
1.7
Avg Household Size
38
Median Age
80%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
7,732
Density / Sq Mi
$118,759
Median Household Income
$81,604
Median Earnings
$1,981
Median Rent
$971,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use property with apartments, retail, and flex space.
Where is this mixed-use property located?
The property is located at 66 S Broadway Denver, CO.
What is the asking price?
The asking price for this property is $2,705,000.
What are key features of this property?
This property features: 100% Fully Leased, providing immediate income.; Features four apartment units.; Includes two retail spaces.
