1316 Evans Ave Denver, CO 80210-4560
This exceptional investment opportunity presents a 4,780 square foot, fee-simple storefront property located at 1316 E Evans Ave, Denver, CO 80210. The property, built in 2003 and renovated in 2022, sits on a 0.38-acre lot and boasts a 6.40% cap rate with a Net Operating Income (NOI) of $215,100. Currently 100% occupied by two tenants, High Ridge Cycle and GoodVets, under NNN leases, this multi-tenant building offers significant long-term stability and predictable cash flow. The asking price is $3,360,000, translating to $702.93 per square foot. Benefiting from its prime location near the University of Denver and adjacent to a Safeway and Walgreens, the property enjoys high visibility and significant traffic volume exceeding 48,949 vehicles daily. The surrounding area demonstrates strong demographics, with over 22,000 residents and average household incomes exceeding $172,000 within a one-mile radius. This property offers a compelling combination of strong tenancy, excellent location, and attractive financial metrics, making it an ideal investment for those seeking secure cash flow and long-term appreciation. The property is being offered as-is, where-is. The building consists of one single-story structure with two units.
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FirstBank Bank Loan Service
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High Ride Cycle - University Gym & Fitness Center
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GoodVets South Denver Veterinary Clinic
U-MS-3 Main Street 3 U-MS-5 Main Street 5 SE CTION 5.2.2 RESIDENTIAL DISTRICTS (U-SU-A, -A2, -B, -B2, -C -C2, -E, -H, U-TU-B, -B2, -C, U-RH-2.5, -3A) 5.2.2.1 General Purpose A. The intent of the Residential districts is to promote and protect residential neighborhoods within the character of the Urban Neighborhood Context. These regulations allow for some mu…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
U-MS-3 · Denver, COU-MS-3 Main Street 3 U-MS-5 Main Street 5 SE CTION 5.2.2 RESIDENTIAL DISTRICTS (U-SU-A, -A2, -B, -B2, -C -C2, -E, -H, U-TU-B, -B2, -C, U-RH-2.5, -3A) 5.2.2.1 General Purpose A. The intent of the Residential districts is to promote and protect residential neighborhoods within the character of the Urban Neighborhood Context. These regulations allow for some multi-unit districts, but not to such an extent as to detract from the overall image and character of the residential neighborhood. B. The building form standards, design standards, and uses work together to promote desirable residential areas. The standards of the single unit districts accommodate the pattern of one to two and a half story urban house forms where the narrow part of the building orients to the street and access is from alley loaded garages. Lot sizes are consistent within an area and lot coverage is typically medium to high accommodating a consistent front and side yard. There are single unit districts that allow detached accessory dwelling units in the rear yard, maintaining the single unit character at the street. The standards of the two unit and row house districts promote existing and future patterns of lower scale multi unit building forms that address the street in the same manner as an urban house building form. C. These standards recognize common residential characteristics within the Urban Neighborhood Context but accommodate variation by providing eleven Residential Zone Districts. 5.2-2 | DENVER ZONING CODE June 25, 2010 | Republished February 25, 2025
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.