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    Property profile & analytics

    2344 Colfax Ave Denver, CO 80206

    • Retail space
    • 2,440 SF
    • 0.22 lot acres
    For Sale
    View listing
    $1,535,000
    Value Estimations
    Cap Rate Potential
    9.7%
    Retail space
    Location Intelligence
    Property ID
    US13-2762379
    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

    • Phone Repair and More Denver / Computer Repair Service / Computer Support And Services
    • Top Cash For Phones & Computer Recycling / Cell Phone Store / Computer Support And Services
    • Amazon Hub Counter - Phone Repair and More / Mailing Service / E-Commerce Service

    Property Details for 2344 Colfax Ave

    Year built
    1968
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    2,440 SF
    Zone code
    C-MS-8
    Property type
    Retail space
    APN
    05012-09-025-000
    APU
    501209025000

    Description

    This exceptional investment opportunity presents a 2,440 square foot, multi-tenant retail storefront located at 2344 E. Colfax Avenue in Denver, Colorado. The property, built in 1968 and renovated in 2013, sits on a 9,711 square foot lot and boasts 13 parking spaces. Currently 100% occupied by Subway and Phone Repair and More, this building offers a strong 6.31% cap rate with an asking price of $1,535,000 ($629.10/sq ft). The property features two units under a NNN lease structure. Subway is executing a new 10-year lease at closing, while Phone Repair and More's lease extends to May 2028. The building is situated on a prominent corner of East Colfax and Josephine Street, two major Denver thoroughfares. Its prime location offers convenient access to East High School, City Park, Cherry Creek, and Downtown Denver. The area has seen significant population growth (27.26% since 2010, projected 9.61% growth in the next 5 years), making this a compelling long-term investment. The C-MS-8 zoning permits up to eight stories, presenting future redevelopment potential. This is a truly hands-off investment opportunity with strong existing tenants and significant upside.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $555,000
      6.5%
      $515,000
      7%
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $227,000
      Market price range: $129k - $504k

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.959
    Latitude
    39.7398
    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
    $21,110
    $181,290
    $59,730
    $241,020
    -
    $679,800
    $214,100
    $893,900

    Comparable in this City

    • Value Estimation
      $485,000
      7,220 SF

      2445 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,220 SF
      2445 3rd Ave, Denver, CO 80206-4720
      View Details
    • Value Estimation
      $425,000
      9,597 SF

      101 Adams St

      RETAIL STORES (PERSONAL SERVICES) • 9,597 SF
      101 Adams St, Denver, CO 80206-5211
      View Details
    • Value Estimation by Request
      818 SF

      2 Adams St Sta, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 818 SF
      2 Adams St Sta, Denver, CO 80206-5724
      View Details
    • Value Estimation
      $320,000
      5,329 SF

      100 Detroit St, Unit 105

      RETAIL STORES (PERSONAL SERVICES) • 5,329 SF
      100 Detroit St, Denver, CO 80206-4852
      View Details
    • Value Estimation
      $385,000
      9,157 SF

      295 Clayton St

      RETAIL STORES (PERSONAL SERVICES) • 9,157 SF
      295 Clayton St, Denver, CO 80206-4816
      View Details
    • Value Estimation
      $17,855,000
      8,030 SF

      185 Steele St

      RETAIL STORES (PERSONAL SERVICES) • 8,030 SF
      185 Steele St, Denver, CO 80206-5207
      View Details

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    2344 Colfax Ave
    Denver, CO 80206
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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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