Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    606 Colfax Ave Denver, CO 80204

    Sponsored
    For Sale
    $2,200,000

    Prime 13,485 SF lot, redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 13,485 square foot commercial land parcel, located at 606 W Colfax Avenue in Denver, Colorado's vibrant Golden Triangle neighborhood, presents a compelling redevelopment opportunity. Currently zoned D-GT, this site allows for a diverse range of development options, including a mixed-use structure up to 66 feet tall, subject to the State Capitol view plane. The property boasts a highly desirable location, situated near Denver's central business district, with easy access to numerous hotels, restaurants, retail establishments, and government facilities. The high daily traffic count on West Colfax Avenue (38,761 cars per day) provides exceptional visibility and accessibility. The existing 1,226 square foot, single-story building, formerly occupied by a bank, features two drive-thru bays and could be repurposed or demolished to accommodate a new development. This site is ideal for a high-density mixed-use project or a drive-thru retail establishment. The seller is open to considering build-to-suit options for retail redevelopment. The asking price for this remarkable property is $2,200,000. The property was built in 1981 and sits on a 13,485 square foot lot in the 80204 zip code. The seller may consider owner financing. This is a rare chance to acquire a prime piece of real estate in a rapidly growing area of Denver.

    Property Features for 606 Colfax Ave

    General Information

    Property type
    Land

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Patrick Henry
    Patrick Henry

    Learn more

    Property Insight Report

    HighLights

    • Potential owner financing.
    • Highly permissive D‑GT zoning.
    • High‑traffic location (38,761 cars/day).
    • Across from the Denver Convention Center.
    • Surrounded by high‑density development and government buildings.
    • Flexible site suitable for high‑density mixed‑use or drive‑thru retail; build‑to‑suit options available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bank of Denver Financial Institution

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.99556729869
    Latitude
    39.740041275916

    Nearby Similar for Sale

    • $350,000
      0.02 Acres

      Versatile Warehouse/Storage Unit in Denver

      Spacious warehouse/storage unit with flex space and mezzanine.
      560 Ames St, Denver, CO 80226
      View Details
    • $2,000,000
      0.75 Acres

      Federal Heights Commercial Opportunity

      4,896 SF commercial building on 0.7475 acre lot.
      2975 W 92Nd Ave, Denver, CO 80260
      View Details
    • $3,200,000
      0.29 Acres

      RiNo Corner Location For Sale

      Highly visible corner location in Denver's RiNo district.
      3100 Blake St, Denver, CO 80205
      View Details
    • $4,300,000
      18,936 SF

      Modern Townhomes in Fountain, Colorado

      Thirteen townhomes built in 2021 near downtown Fountain, Colorado.
      303 East Ohio Ave, Denver, CO 80209
      View Details
    • $7,750,000
      28,728 SF

      Denver Apartments with Development Potential

      42-unit apartment building on 2.66 acres near downtown Denver.
      4510 W Saint Clair Pl, Denver, CO 80212
      View Details
    • $1,400,000
      3,212 SF

      Updated Multifamily Investment Property

      Charming, updated 7-unit building in Central Denver's Cheesman Park.
      1234 York St, Denver, CO 80206
      View Details
    • $4,600,000
      14,871 SF

      Denver Retail Investment Opportunity

      Renovated retail building with diverse tenants and attractive features.
      1229-1235 South Broadway, Denver, CO 80210
      View Details
    • $219,900
      945 SF

      Remodeled Condo in Windsor Gardens

      Updated 2-bedroom condo in a 55+ active adult community.
      9155 E Center Ave, Denver, CO 80247
      View Details
    • $172,000
      870 SF

      Updated Condo with Community Amenities

      Updated 2-bedroom condo with garage and extensive community amenities.
      650 S Clinton St, Denver, CO 80247
      View Details
    • $246,500
      1,128 SF

      Renovated Denver Condo with Garage

      Completely renovated condo in Denver with two deeded garage spaces.
      4940 E Donald Ave, Denver, CO 80222
      View Details
    • $625,000
      1,791 SF

      Remodeled Commercial Property Near Development

      Turn-key commercial property with versatile space and development potential.
      4342 Delaware St, Denver, CO 80216
      View Details
    • $625,000

      Turn-Key Commercial Property Opportunity

      Remodeled commercial property in growing Fox Island District.
      4300 Delaware St, Denver, CO 80216
      View Details

    FAQs

    What type of property is this?
    Land - Prime 13,485 SF lot, redevelopment opportunity.
    Where is this land located?
    The property is located at 606 Colfax Ave Denver, CO.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Potential owner financing.; Highly permissive D-GT zoning.; High-traffic location (38,761 cars/day).
    (303) 625-7444
    Request Owner's contact information
    606 Colfax Ave Denver, CO 80204
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    606 Colfax Ave
    Denver, CO 80204
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    606 Colfax Ave Denver, CO 80204
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Patrick Henry
    Patrick Henry
    Real Estate License ID: CO FA01319334
    (303) 625-7444
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.