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    Lakewood Apartments: 18 Units Title is generated by Realmo AI

    8220 W 16th Place, Lakewood, CO 80214

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    18-unit apartment building in Lakewood, Colorado with development potential.

    Type:Multifamily
    Property size:
    16,442 SF
    Added:
    Nov 21, 2025
    Days on Market:
    191
    Last Refresh:
    May 19 at 8:02 pm

    Property Features for 8220 W 16th Place

    General Information

    Standard status
    Active
    Size
    16,442 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Robert Lawson

    Listing agent Robert Lawson License #100001038

    Listing office Pinnacle Real Estate Advisors

    Listing date Nov 21, 2025

    Source Pinnaclerea

    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 Pinnacle Real Estate Advisors

    HighLights

    • Large, well‑landscaped lot with potential to add 15 units or garages.
    • Turn‑key opportunity including newer roof, gutters, windows, newer boiler, and updated interiors.
    • Excellent central location in Lakewood, close to Crown Hill Park and 7 miles from Downtown Denver.
    • Mostly large, two‑bedroom units (15 out of 18 units).
    • Spacious units, averaging nearly 900 square feet.
    • Less than one mile to Wadsworth Lightrail Station.

    Overview

    Cottonwood Apartments, constructed in 1959, is an 18-unit apartment building situated in Lakewood, Colorado. The building features an interior hall design and is constructed of brick. It comprises 3 one-bedroom/one-bathroom units and 15 two-bedroom/one-bathroom units. The average unit size is nearly 900 square feet. The property includes wood cabinetry, ample off-street parking, an on-site laundry room, a central swamp cooling system, and spacious floor plans. The property also features a large open area on the southwest corner of the parcel that could be developed in the future, a large off-street parking lot and mature landscaping. The property is located in an eco-friendly neighborhood minutes from Denver, south of Crown Hill Park, near restaurants, stores, and bars along West Colfax Avenue. The property is less than one mile to Wadsworth Lightrail Station. The property has a newer roof, gutters, windows, newer boiler and updated interiors. The large, well landscaped lot has potential to add 15 units or garages.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.19
    Latitude
    39.7431

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    FAQs

    What type of property is this?
    Apartment building - 18-unit apartment building in Lakewood, Colorado with development potential.
    Where is this apartment building located?
    The property is located at 8220 W 16th Place Lakewood, CO.
    What are key features of this property?
    This property features: Large, well‑landscaped lot with potential to add 15 units or garages.; Turn‑key opportunity including newer roof, gutters, windows, newer boiler, and updated interiors.; Excellent central location in Lakewood, close to Crown Hill Park and 7 miles from Downtown Denver.
    (970) 946-9365
    We can help!
    Listing Contact
    Robert Lawson
    Real Estate License ID: 100001038
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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