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    11891 Colfax Ave Lakewood, CO 80215

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    11891 Colfax Ave Lakewood, CO 80215

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    • Motels
    Off-Market
    Property ID
    US13-2676212
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 11891 Colfax Ave

    Year built
    1953
    Property type
    Motels

    Description

    This exceptional investment opportunity presents a 26-unit motel ideally situated at the northeast corner of West Colfax Avenue and Simms Street in Lakewood, Colorado. The property boasts a substantial 0.8-acre lot (35,022 square feet), providing ample parking for guests. Built in 1953, the motel offers significant potential for renovation and increased profitability. The property includes an oversized manager's living quarters, adding to its appeal for owner-operators. Currently operating as an independent motel, this property is being offered as a 1031 exchange opportunity, making it an attractive option for investors seeking tax advantages. The zoning designation is M-G-S (Mixed Use-General-Suburban), suggesting potential for future expansion or development. The asking price is $1,950,000. This established motel presents a rare chance to acquire a well-located property in a growing area with considerable upside potential. The property's size and location make it a strong contender for various hospitality-related ventures. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.1315763
    Latitude
    39.7404001

    Comparable in this City

    • $3,500,000

      Established Motel with Owner's Residence

      Well-positioned motel with 29 rooms on a 43,778 sq ft site.
      9600 W Colfax Ave, Lakewood, CO 80215
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    • $2,500,000
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      Lakewood Mixed-Use Redevelopment

      Prime Lakewood location, vacant, high visibility.
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      2,700 SF

      Lakewood Commercial Property For Sale

      Commercial property suitable for 1031 exchange with future upside.
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      50,924 SF

      Lakewood Office Building For Sale

      Highly visible office building with convenient access and many amenities.
      10455 West 6Th Ave, Lakewood, CO 80215
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    • $3,050,000

      Lakewood Apartment Building with 16 Units

      16-unit apartment building in Lakewood, Colorado.
      9885 W 21St Ave, Lakewood, CO 80215
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    • $1,330,000

      Lakewood Apartment Building Sold

      8-unit apartment building in Lakewood, Colorado.
      9840 W 21St Ave, Lakewood, CO 80215
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    Similar Nearby for Sale

    • $3,500,000

      Established Motel with Owner's Residence

      Well-positioned motel with 29 rooms on a 43,778 sq ft site.
      9600 W Colfax Ave, Lakewood, CO 80215
      View Details
    • Contact for pricing

      Retail Property for Sale

      Retail property available for sale in Lakewood, Colorado.
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      2,376 SF

      Lakewood Corner Property: Owner/User Opportunity

      Versatile property ideal for office, medical, or wellness use.
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      80,120 SF

      Lakewood Apartment Conversion Opportunity

      147-unit property in Lakewood, Colorado, with conversion potential.
      715 Kipling St, Lakewood, CO 80215
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    Similar Nearby for Lease

    • $21 SF/Yr
      14,723 SF

      Prime 2nd Story Office Space For Lease

      Prime 2nd Story Office Space For Lease
      651 Garrison Street, Lakewood, CO 80215
      View Details
    • $16 SF/Yr
      25,020 SF

      Centrally located with Versatile Floor Plans Ideal for Retail, Office, and Flex user

      Centrally located with Versatile Floor Plans Ideal for Retail, Office, and Flex user
      608-610 Garrison Street, Lakewood, CO 80215
      View Details
    • Contact for pricing

      Lakewood Industrial Building For Rent

      Multi-tenant industrial building with warehouse space and convenient highway access.
      11100 W 8Th Ave, Lakewood, CO 80215
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      Medical Office Space Available

      Located near public transportation with aggressive new local ownership.
      8805 W 14Th Ave, Lakewood, CO 80215
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      Auto Shop on West Colfax

      Auto shop with carport in mixed-use area for rent.
      8811 W Colfax Ave, Lakewood, CO 80215
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    • Contact for pricing

      Wheat Ridge Office Space Available

      Office space for rent in Wheat Ridge, Colorado.
      3000 Youngfield St, Wheat Ridge, CO 80215
      View Details
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    11891 Colfax Ave
    Lakewood, CO 80215
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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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