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Property profile & analytics
OFF-MARKET
Estimated value
$2,810,000
Strip malls
1537 Platte St Denver, CO 80202-1121
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0912469
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1890
Construction
WOOD
Total area
15,039 SF
Lot
0.2 ac (8,721 SF)
Zoning code
C-MX-5
APN
02283-34-033-000
UPID
US13-0912469
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
-
Savory Spice Shop Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.81M
Owner & transaction history
Western Office Portfolio Prop · 7 yrs held
Western Office Portfolio Prop
since 2019
7 recorded transactions
Zoning & alternative use
C-MX-5 · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-MX-5: Urban Center Neighbor- hood, allows commer- cial and residential uses with a maximum height of 5 stories. 2.3.1.3 Design Standards The Design Standards Division establishes the intent of all applicable design standards, allowed building forms by zone district, building form standards and any exceptions or alternatives. A summary table provides an ove…
Zone name
Urban Center Neighborhood Context Mixed Use 5
General category
MIXED_USE
Zone area
635.39 ac
Source
Denver Zoning Code
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,675,000
6.5%
$3,395,000
7%
$3,150,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,675,000
Change: -4% · Conversion: Difficult
MEDICAL BUILDING
$4,565,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$2.81M
Range $2.53M – $3.09M · ±10%
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
$187 / 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
$95,070
Tax year 2023
Assessed value
$1,226,930
Assessed 2023
Previous assessed
$1,294,790
-5.2% YoY
Effective rate
7.75%
On assessed value
Assessed land
$539,080
Assessed improvement
$687,850
Land market value
$1,962,200
Improvement market value
$2,465,400
Total market value
$4,427,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1890
Construction
WOOD
Heating
HOT WATER
Stories
2
Total area
15,039 SF
Lot
0.2 ac (8,721 SF)
Zoning code
C-MX-5
APN
02283-34-033-000
UPID
US13-0912469
Jurisdiction
DENVER
Zoning & alternative use
C-MX-5 · Denver, COZoning C-MX-5 · permitted uses
C-MX-5 · Denver, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-MX-5: Urban Center Neighbor- hood, allows commer- cial and residential uses with a maximum height of 5 stories. 2.3.1.3 Design Standards The Design Standards Division establishes the intent of all applicable design standards, allowed building forms by zone district, building form standards and any exceptions or alternatives. A summary table provides an overview for easy reference. Each building form has a set of illustrations and a table of standards to ensure clarity in interpretation. 2.3-2 |
Zone name
Urban Center Neighborhood Context Mixed Use 5
General category
MIXED_USE
Zone area
635.39 ac
Source
Denver Zoning Code
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1890
Construction
WOOD
Heating
HOT WATER
Stories
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Western Office Portfolio Prop
Individual
Mailing address
1616 CAMDEN RD STE #210, CHARLOTTE, NC 28203-4925
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2025
—
Ap Platte Portfolio LP
—
Deed
related
$240,000,000 · Jpmorgan Chase Bank NA
Feb 5, 2019
—
Western Office Portfolio Prop
Upi 1537 Platte LLC
Grant Deed
$437,500,000 · Morgan Stanley Mtg Cap Holding
Oct 14, 2016
—
Upi Zang LLC
—
Deed
related
$21,650,000 · Jpmorgan Chase Bank NA
May 2, 2016
$5,000,000
Upi 1537 Platte LLC
Big Chief Property Invs LLC
Grant Deed
—
Apr 4, 2014
—
Big Chief Property Invs LLC
Pappageorge,louis
Quit Claim Deed
—
Mar 30, 2011
—
Louis Pattageorge
Pappageorge,louis
Warranty Deed
related
—
—
—
Big Chief Property Invs LLC
—
Loan Modification
related
—
—
—
Louis Pappageorge
—
Deed Of Trust
related
$100,000 · Bank Of The West
—
—
Louis Pappageorge
—
Deed Of Trust
related
$500,000 · Bank Of The West
—
—
Pappageorge,louis
—
Deed Of Trust
related
$875,000 · Bank Of Denver
—
—
Louis Pappageorge
—
Deed Of Trust
related
$60,000 · Bank Of Denver
—
—
Louis Pappageorge
—
Deed Of Trust
related
$290,000 · Bank Of Denver
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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