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    Land Parcels Near Tower Road Title is generated by Realmo AI

    72nd Ave & Tower Rd, Denver, CO 80249

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    Land parcels available near Tower Road with multiple approved uses.

    Type:Land
    Lot size:
    2.00 Acres
    Added:
    Apr 26, 2021
    Days on Market:
    1868
    Last Refresh:
    May 19 at 9:30 pm

    Property Features for 72nd Ave & Tower Rd

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Ken Himel
    Ken Himel

    Listing agent Ken Himel License #CO FA.040023685

    Listing office David, Hicks & Lampert Brokerage, LLC

    Listing date Apr 26, 2021

    Source Crexi

    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 David, Hicks & Lampert Brokerage, LLC

    HighLights

    • Gas & Drive‑Thru uses approved for the 2‑acre parcel at SWC 72nd Ave & Tower Rd.
    • Proximity to Gaylord of the Rockies (1.7 miles), a 1,500‑room resort hotel and 480,000 SF convention center.
    • Multiple uses approved and sub‑dividable for the 5.4‑acre parcel.
    • Over 4,000 hotel rooms operate within 1.5 miles of Tower Road, including this project.
    • 2.2 Acre land parcel available.
    • United Airlines Training Center (113 acres) to start construction in 2025 nearby.

    Overview

    Available for sale are land parcels located at the southwest corner of 72nd Avenue and Tower Road. One parcel spans 2 acres and has approvals for gas and drive-thru uses. An additional 5.4-acre parcel is available with multiple approved uses and the possibility of subdivision. There is also a 2.2-acre land parcel available. The property is situated within 1.7 miles of Gaylord of the Rockies, which includes a 480,000 square foot convention center and a 1,500-room resort hotel. Over 4,000 hotel rooms are currently operating within a 1.5-mile radius of Tower Road, including this project. United Airlines has purchased 113 acres on 64th Avenue for a new Training Center, with construction slated to begin in 2025.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Denver
    County
    Arapahoe
    State
    Colorado
    Longitude
    -104.696
    Latitude
    39.8488

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    FAQs

    What type of property is this?
    Commercial land - Land parcels available near Tower Road with multiple approved uses.
    Where is this commercial land located?
    The property is located at 72nd Ave & Tower Rd Denver, CO.
    What are key features of this property?
    This property features: Gas & Drive‑Thru uses approved for the 2‑acre parcel at SWC 72nd Ave & Tower Rd.; Proximity to Gaylord of the Rockies (1.7 miles), a 1,500‑room resort hotel and 480,000 SF convention center.; Multiple uses approved and sub‑dividable for the 5.4‑acre parcel.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ken Himel
    Ken Himel
    Real Estate License ID: CO FA.040023685
    Learn More
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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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