LoDo Mixed-Use Property Near
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1948 Blake St, Denver, CO 80202
Mixed-use property in LoDo, across from Coors Field.
Property Size12,374 SF
Price / SF$242.44
Days on Market866
Property Features for 1948 Blake St
General Information
Standard status
Active
Size
12,374 SF
Property subtype
Mixed Use, Office
Zoning
D-LD
Building Details
Year Built
1890
Buildings
1
Stories
2
Listing Agency:
The Henry Group LLC
(303) 625-7444
Listed By:
Montana Rae · License #FA100100400
Source:
Crexi
Added: Apr 10, 2024
Changed: Aug 18
Last Checked: Aug 23 at 10:22AM
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 The Henry Group LLC
Investment Insights
Based on property information with market context.
Located at 1948 Blake Street, Denver, CO 80202, this mixed-use property is situated directly across the street from Coors Field within the Lower Downtown Historic District. The building, which is not currently landmarked, benefits from its location in the LoDo/Ballpark submarket. The property's location provides access to various retailers, restaurants, museums, and other attractions, resulting in high foot-traffic counts. The property has a size of 12374 square feet.
Key Highlights
- Prime location directly across the street from Coors Field.
- Located within the Lower Downtown Historic District.
- Positioned among various retailers, restaurants, and museums.
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
$181,304
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
6.04%
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%
$3,626,080
$3.6M
Cap Rate 7%
$2,590,057
$2.6M
Cap Rate 9%
$2,014,489
$2.0M
Market Conditions
NOI Build-Up for 12,374 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
$326.7K $26.40/SF
− Vacancy
−$84.9K −$6.86/SF
EGI
$241.7K $19.54/SF
− OpEx
−$60.4K −$4.88/SF
NOI
$181.3K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,626,080
Cap Rate 7%
$2,590,057
Cap Rate 9%
$2,014,489
Alternative Uses
Best Use
Office B
$2.59M
$2.27M – $3.02M
NOI $181,304 @ 7.0% cap · market cap 6.04%
Second Best
Mixed Use
$2.49M
$2.18M – $2.90M
NOI $174,288 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $275,736 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 80202, CO
19,606
Population
14,394
Households
1.4
Avg Household Size
34
Median Age
72%
College-Educated
96%
High-School Grad
1.2 sq mi
ZIP Area
16,338
Density / Sq Mi
$110,372
Median Household Income
$80,331
Median Earnings
$2,246
Median Rent
$677,100
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in LoDo, across from Coors Field.
Where is this mixed-use property located?
The property is located at 1948 Blake St Denver, CO.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Prime location directly across the street from Coors Field.; Located within the Lower Downtown Historic District.; Positioned among various retailers, restaurants, and museums.
