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    2371 128 Ave Denver, CO 80234

    • Retail properties
    For Sale
    View listing
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 2371 128 Ave

    Property type
    Retail properties
    Property subtype
    Drive through restaurants

    Description

    This exceptional 3,352 square foot freestanding bank building presents a unique investment opportunity in Denver, Colorado. Located at 2371 W 128th Ave, in Adams County, zip code 80234, this property boasts a highly desirable location at a fully lit, four-way intersection, ensuring maximum exposure and visibility along West 128th Avenue. The building's strategic hard corner placement optimizes its presence within the bustling commercial area. The property features four drive-thru lanes, complemented by a dedicated drive-up ATM lane, providing exceptional convenience for customers. The asking price is $1,100,000. This quality construction offers a strong foundation for continued success, benefiting from strong area demographics. The property is currently configured as a bank, offering a versatile space with significant potential for various retail uses. Its prime location and convenient features make it an attractive option for both owner-occupiers and investors seeking a high-return asset in a thriving Denver market. The property's excellent visibility and accessibility make it an ideal location for a variety of businesses. This is a rare opportunity to acquire a well-maintained, high-traffic retail space in a desirable area of Denver.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Adams
    State
    Colorado
    Longitude
    -105.015
    Latitude
    39.9291

    Comparable in this City

    • Value Estimation by Request
      3,352 SF

      2371 128Th Ave

      Restaurants • 3,352 SF
      2371 128Th Ave, Denver, CO 80234
      View Details
    • Value Estimation
      $485,000
      4,940 SF

      599 104th Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,940 SF
      599 104th Ave, Northglenn, CO 80234-4002
      View Details
    • Value Estimation
      $550,000
      4,924 SF

      2171 128th Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,924 SF
      2171 128th Ave, Westminster, CO 80234-1306
      View Details
    • Value Estimation
      $465,000
      2,520 SF

      2680 104th Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,520 SF
      2680 104th Ave, Denver, CO 80234-3515
      View Details
    • Value Estimation
      $400,000
      2,322 SF

      555 104th Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,322 SF
      555 104th Ave, Northglenn, CO 80234-4002
      View Details
    • Value Estimation
      $465,000
      2,400 SF

      550 104th Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,400 SF
      550 104th Ave, Northglenn, CO 80234-4005
      View Details

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      Westminster Office/Retail Space

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      1,400 SF

      Restaurant Space Available For Lease

      Second generation restaurant space with high exposure available for lease.
      2690 W 104Th Ave, Denver, CO 80234
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    • Contact for pricing
      1,800 SF

      Prime Retail Space Available

      High-profile retail space with ample parking and easy access.
      2741 W 120Th Ave, Denver, CO 80234
      View Details
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    2371 128 Ave
    Denver, CO 80234
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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.

    More about this property
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