Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Garden apartment buildings
188 Cedar Ave Denver, CO 80223-1832
Individually Owned
27-yr Hold
~
Est. High Equity
Property ID
US13-0928741
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1905
Construction
WOOD
Total area
2,488 SF
Lot
0.14 ac (6,000 SF)
Zoning code
U-RH-2.5
APN
05103-28-001-000
UPID
US13-0928741
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$428k
Blend (final)
Blend
$550k
Owner & transaction history
Atlantis Community Foundation · 27 yrs held
Atlantis Community Foundation
since 1998
1 recorded transaction
Zoning & alternative use
U-RH-2.5 · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$810,000
+2.9%
Commercial (general)
$805,000
+2.6%
Retail stores
$800,000
+1.9%
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%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$785,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$810,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$805,000
Change: +3% · Conversion: Moderate
RETAIL STORES
$800,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$755,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$730,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$221 / 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
Assessed value
$69,690
Assessed 2023
Previous assessed
$31,190
+123.4% YoY
Assessed land
$25,260
Assessed improvement
$44,430
Land market value
$432,000
Improvement market value
$663,200
Total market value
$1,095,200
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1905
Construction
WOOD
Heating
FORCED AIR
Buildings
2
Stories
1
Units
4
Rooms
14
Bathrooms
1
Total area
2,488 SF
Lot
0.14 ac (6,000 SF)
Zoning code
U-RH-2.5
APN
05103-28-001-000
UPID
US13-0928741
Jurisdiction
DENVER
Zoning & alternative use
U-RH-2.5 · Denver, CO
Zoning U-RH-2.5 · permitted uses
U-RH-2.5 · Denver, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Denver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$785,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$805,000
RETAIL STORES
Est. value
$800,000
MEDICAL BUILDING
Est. value
$755,000
OFFICE BUILDING
Est. value
$730,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
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
1905
Construction
WOOD
Heating
FORCED AIR
Stories
1
Buildings
2
Units
4
Rooms
14
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Atlantis Community Foundation
Individual
Mailing address
201 S CHEROKEE ST, DENVER, CO 80223-1597
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 1998
$149,000
Atlantis Community Foundation
Atlantis Community INC
Grant Deed
related
$115,500 · Colorado Housing Assistance Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 188 Cedar Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
