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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1240 Colfax Ave Denver, CO 80218-2253

    • Retail space
    • 1,104 SF
    • 0.01 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    5.6%
    Retail space
    Location Intelligence
    Property ID
    US13-0797141
    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.

    Current Use by Public Records

    • Alfanis Barber Shop / Barber Shop
    • Golden Hands Plumbing & Heating / Plumber

    Property Details for 1240 Colfax Ave

    Year built
    1940
    Construction
    WOOD
    Lot size
    0.01 lot acres
    Property size
    1,104 SF
    Zone code
    C-MS-5
    Property type
    Retail space
    APN
    05022-03-077-077
    APU
    502203077077

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $250,000
      6.5%
      $235,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $214,000
      Market price range: $201k - $517k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $355,000
      Current use
      AUTO REPAIR, GARAGE
      $440,000
      Change: +25% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $360,000
      Change: +1% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $355,000
      Change: +1% Conversion: Easy
      MEDICAL BUILDING
      $335,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.971
    Latitude
    39.7397
    CBSA code
    19740
    CBSA name
    DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,384
    $17,660
    $20,980
    $38,640
    -
    $93,300
    $75,200
    $168,500

    Comparable in this City

    • Value Estimation
      $555,000
      7,789 SF

      1201 9th Ave, Unit 1217

      RETAIL STORES (PERSONAL SERVICES) • 7,789 SF
      1201 9th Ave, Denver, CO 80218-3439
      View Details
    • Value Estimation
      $4,465,000
      10,437 SF

      1038 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,437 SF
      1038 6th Ave, Denver, CO 80218-3303
      View Details
    • Value Estimation
      $350,000
      2,477 SF

      1220 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,477 SF
      1220 6th Ave, Denver, CO 80218-3415
      View Details
    • Value Estimation
      $430,000
      2,670 SF

      1365 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,670 SF
      1365 6th Ave, Denver, CO 80218-3453
      View Details
    • Value Estimation
      $455,000
      8,494 SF

      1600 17th Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,494 SF
      1600 17th Ave, Denver, CO 80218-1621
      View Details
    • Value Estimation
      $430,000
      5,000 SF

      939 11th Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      939 11th Ave, Denver, CO 80218-2803
      View Details

    Similar Nearby for Sale

    • $2,400,000
      8,000 SF

      Retail Space on Colfax Avenue

      Renovated retail space with parking in Denver's vibrant neighborhoods.
      1331 E Colfax Ave, Denver, CO 80218
      View Details
    • $995,000
      2,400 SF

      Remodeled Live/Work Retail Opportunity

      Leased commercial and residential units with on-site parking.
      1431 N Ogden St, Denver, CO 80218
      View Details
    • $1,700,000
      1,200 SF

      Denver Strip Center with Laundry

      Prime commercial space with high visibility and heavy foot traffic.
      3519 W Colfax Ave, Denver, CO 80218
      View Details
    • $2,400,000
      8,800 SF

      Colfax Ave Retail Center

      Denver Storefront, High Occupancy
      1331 Colfax Ave, Denver, CO 80218
      View Details
    • $989,000
      3,400 SF

      Retail/Office Space on Colfax Avenue

      3,400 SF retail/office space in Denver's West Colfax corridor.
      4500 W Colfax Ave, Denver, CO 80218
      View Details
    • Contact for pricing
      6,312 SF

      Retail Property on Colfax Avenue

      Retail property with redevelopment potential and high visibility.
      4545 W Colfax Ave, Denver, CO 80218
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      3,481 SF

      Retail/Office Space on East Colfax

      Retail or office spaces with excellent visibility and accessibility.
      4535 Colfax Ave, Denver, CO 80218
      View Details
    • Contact for pricing
      3,067 SF

      Retail Space on Colfax Avenue

      Retail space available for lease on East Colfax Avenue.
      1150 E Colfax Ave, Denver, CO 80218
      View Details
    • $29 SF/Yr
      1,058 SF

      Denver Retail Space For Rent

      Retail space available in a lively Denver center.
      262-264 Downing St, Denver, CO 80218
      View Details
    • $18 SF/Yr
      12,247 SF

      RiNo Art District Retail Space

      Prime retail space in Denver's thriving RiNo Art District.
      3330-3600 N Downing St, Denver, CO 80218
      View Details
    • Contact for pricing
      15,000 SF

      Santa Fe Drive Brewery/Taproom Space

      Divisible space with brewery equipment, liquor license, and parking.
      900-924 W 1St Ave, Denver, CO 80218
      View Details
    • Contact for pricing
      2,530 SF

      Retail Space Available For Rent

      Retail spaces with patio options available for lease.
      1010 W Colfax Ave, Denver, CO 80218
      View Details
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    1240 Colfax Ave
    Denver, CO 80218-2253
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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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