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    Property profile & analytics

    2230 Monaco St Pkwy Denver, CO 80222

    • Retail properties & Spaces
    • 2,873 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2230 Monaco St Pkwy

    Year built
    1986
    Property size
    2,873 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents two thriving, touchless car washes in Denver, Colorado. Located at 2230 S. Monaco St Pkwy and 5440 E. Evans Ave, these properties boast a combined 2,873 square feet on a total lot size of 40,863 square feet. Built in 1986, these strategically positioned car washes benefit from high traffic counts at arterial street intersections within densely populated, high-income neighborhoods experiencing significant growth with recent additions like Carvana, Quick Trip, and 400 new apartments. The South Monaco location features one automatic bay and four self-serve bays, while the East Evans location offers one touchless automatic bay and five self-serve bays. Currently operating at 100% occupancy, these well-maintained properties offer a strong return on investment. The asking price is $4,500,000, with an 8.32% actual cap rate and a projected 58.65% proforma return on capital. A slight increase in wash prices could yield an additional 17% increase in income. This is a rare chance to acquire a stabilized, high-performing portfolio in a rapidly developing area of Denver. The APN for the South Monaco location is 6291-00-108. This is a single-tenancy property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.912
    Latitude
    39.6761

    Comparable in this City

    • Value Estimation
      $16,055,000
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      2253 Monaco Pkwy

      DEPARTMENT STORE • 122,765 SF
      2253 Monaco Pkwy, Denver, CO 80222-5813
      View Details
    • Value Estimation
      $4,450,000
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      4100 Mexico Ave E E Ste

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    • Value Estimation by Request
      12,298 SF

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      Office Units • 12,298 SF
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    • Value Estimation by Request
      2,675 SF

      5440 Evans Ave

      Retail properties & Spaces • 2,675 SF
      5440 Evans Ave, Denver, CO 80222
      View Details
    • Value Estimation
      $5,675,000
      27,798 SF

      4100 Mexico Ave Ste C

      DEPARTMENT STORE • 27,798 SF
      4100 Mexico Ave Ste C, Denver, CO 80222-4100
      View Details
    • Value Estimation by Request
      23,140 SF

      4100 Mexico Ave Ste D

      DEPARTMENT STORE • 23,140 SF
      4100 Mexico Ave Ste D, Denver, CO 80222-4100
      View Details

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    2230 Monaco St Pkwy
    Denver, CO 80222
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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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