960 N Grant St Denver, CO 80203
69-unit high-rise with shovel-ready 48-unit development site.
Property Features for 960 N Grant St
General Information
- Standard status
- Active
- Size
- 33,948 SF
- Lot size
- 0.29 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1937
Listing office Pinnacle Real Estate Advisors (303) 962-9555
Listing date Mar 11, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Opportunity to assume an Interest‑Only loan of $9,310,000 at a fixed 3.59% rate through January 1st, 2030, boosting cash‑on‑cash yields to over 9.5% in year 1.
- Includes a shovel‑ready development site at 951 Logan Street with an approved Site Development Plan (SDP) for a 48‑unit multifamily project, valid through September 19, 2027.
- The Novelist is a stabilized, 69‑unit high‑rise with over $2.3M in capital improvements in the last decade, ensuring minimal near‑term CapEx.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $998.1k | $29.40 |
| − Vacancy | −$60.9k | −$1.79 |
| EGI | $937.2k | $27.61 |
| − OpEx | −$421.7k | −$12.42 |
| NOI | $515.5k | $15.18 |
