2240 Blake St Denver, CO 80205-2058
- Office buildings
- 13,024 SF
- 0.15 lot acres
May 11, 2023
Current Use by Public Records
- Calculated Hire - Denver / Business Administration Service / Business Management Consultant
- Coffee High Co. / Coffee Shop
- Brooksource - Denver / Employment Agency / Business Development Service
- Medasource - Denver / Employment Agency / Business Development Service
- Tagline Marketing / Marketing Consultant
Property Details for 2240 Blake St
- Year built
- 1979
- Construction
- WOOD
- Lot size
- 0.15 lot acres
- Property size
- 13,024 SF
- Zone code
- C-MX-8
- Property type
- Office buildings
- APN
- 02279-02-011-000
- APU
- 227902011000
Description
This exceptional two-story, 13,024 square foot mixed-use building at 2240 Blake Street in Denver's vibrant Ballpark neighborhood presents a compelling owner-user opportunity. Currently 73% occupied, the property boasts a Class A build-out featuring exposed brick, polished concrete floors, skylights, and massive wood beams, creating an impeccable modern aesthetic. The first floor includes a thriving café tenant, while approximately 3,171 square feet of space on the first floor is immediately available for occupancy or lease. Built in 1923 and extensively renovated in 2013, the building benefits from an elevator and stairs, and is free of deferred maintenance. The property's C-MX-8 zoning provides significant upside potential for future redevelopment or expansion. Its location within the Ballpark neighborhood, adjacent to Coors Field and surrounded by popular restaurants and retailers (including Cherry Cricket and Guiry's), ensures high visibility and strong rental demand. The Ballpark location also offers advantages over other downtown areas, including exemption from LoDo Design Review board regulations and the 55-foot height restriction. Adjacent parking is available, and the building offers excellent signage opportunities. The current lease rates are at market value, and the Ballpark submarket consistently outperforms downtown Denver in rental rates and occupancy. This is a rare chance to acquire a well-maintained, income-producing asset in a highly sought-after location.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,390,000
- 6.5%
- $3,130,000
- 7%
- $2,910,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,573,000
Market price range: $391k - $2.20M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $3,975,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $3,970,000 Change: -0% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.991
- Latitude
- 39.7566
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA