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Property profile & analytics
OFF-MARKET
Estimated value
$4,325,000
Retail space
1229 Broadway Denver, CO 80210-1503
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US13-0846441
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
WOOD
Total area
15,045 SF
Lot
0.29 ac (12,500 SF)
Zoning code
I-A
APN
05222-03-008-000
UPID
US13-0846441
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Joy Hill Denver Restaurant
-
movement 5280 Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.33M
CAP Approach
CAP
$3.17M
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$4.33M
Owner & transaction history
1229 Broadway LLC · 1 yrs held
1229 Broadway LLC
since 2024
Last sale
$4.3M
4 recorded transactions
Zoning & alternative use
I-A · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
B. I-A Light Industrial District This district is intended to be an employment area containing offices, business and light industrial uses that are generally compatible with adjacent Residential or Mixed Use Commercial Zone Districts. No new residential uses may be established in the I-A zone district in order to promote a stable employment base for the city…
Zone name
Light Industrial Context District
General category
MIXED_USE
Zone area
2,296.60 ac
Source
Denver Zoning Code
Top alternative use upside
Restaurant
$6.2M
+58.4%
Auto repair, garage
$6.0M
+55.1%
Apartment house (5+ units)
$5.8M
+48.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Denver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Denver submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,325,000
ML approach
$4,325,000
CAP Approach
CAP Return
Estimation
6%
$3,430,000
6.5%
$3,170,000
7%
$2,940,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,885,000
Current use
RESTAURANT
$6,155,000
Change: +58% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,025,000
Change: +55% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,765,000
Change: +48% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,885,000
Change: +26% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,870,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$4,570,000
Change: +18% · Conversion: Difficult
OFFICE BUILDING
$3,850,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$4.33M
Range $3.89M – $4.76M · ±10% · vs last sale $4.33M (Nov 4 2024)
Last sale anchor
$4.33M
Nov 4 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$287 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,591
Tax year 2023
Assessed value
$704,530
Assessed 2023
Previous assessed
$641,360
+9.8% YoY
Effective rate
7.75%
On assessed value
Assessed land
$131,130
Assessed improvement
$573,400
Land market value
$500,000
Improvement market value
$2,055,200
Total market value
$2,555,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
1
Units
7
Total area
15,045 SF
Lot
0.29 ac (12,500 SF)
Zoning code
I-A
APN
05222-03-008-000
UPID
US13-0846441
Jurisdiction
DENVER
Zoning & alternative use
I-A · Denver, COZoning I-A · permitted uses
I-A · Denver, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
B. I-A Light Industrial District This district is intended to be an employment area containing offices, business and light industrial uses that are generally compatible with adjacent Residential or Mixed Use Commercial Zone Districts. No new residential uses may be established in the I-A zone district in order to promote a stable employment base for the city. Accordingly, I-A zoned areas serve as a land use buffer between more residential areas and more intensive industrial areas, which may be zoned I-B General Industrial. All uses conducted in this zone district must be enclosed within a structure, unless specifically allowed to operate out of doors.
Zone name
Light Industrial Context District
General category
MIXED_USE
Zone area
2,296.60 ac
Source
Denver Zoning Code
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.9M
RESTAURANT
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.6M
OFFICE BUILDING
Est. value
$3.9M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
7
Lot
0.29 ac
Current owner
From public records · entity-resolved
1229 Broadway LLC
Entity
Mailing address
2731 17TH ST STE #300, DENVER, CO 80211-4488
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2024
$4,325,000
1229 Broadway LLC
Revesco Upvf1 Of Broadway LP
Special Warranty Deed
$2,350,000 · Alpine Bank
Jun 27, 2018
—
Revesco Upvf1 Of Broadway LP
—
Deed
related
$2,815,000 · Collegiate Peaks Bk
Feb 14, 2017
—
Revesco Upvf1 Of Broadway LP
Mrs Penn LLC
Special Warranty Deed
$2,195,280 · Collegiate Peaks Bank
—
—
Revesco Upvf1 Of Broadway LP
—
Loan Modification
related
$2,815,000 · Collegiate Peaks Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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