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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2422 3rd Ave Denver, CO 80206-4704

    • Retail space
    • 2,496 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2021
    $1,750,000
    Value Estimations
    $1,530,000
    Show details
    Cap Rate Potential
    2.1%
    Retail space
    Location Intelligence
    Property ID
    US13-0632814
    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

    • Kelsey Montague Art, Denver / Tourist Attraction
    • Simply Framed / Picture Frame Shop
    • Henry Brothers Plumbing / Plumber

    Property Details for 2422 3rd Ave

    Year built
    1975
    Construction
    WOOD
    Lot size
    0.09 lot acres
    Property size
    2,496 SF
    Zone code
    C-CCN-5
    Property type
    Retail space
    APN
    05122-23-024-000
    APU
    512223024000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,655,000
      ML approach
      $1,595,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,169,000
      Market price range: $454k - $1.17M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,000,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.958
    Latitude
    39.7207
    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
    $41,626
    $410,130
    $27,450
    $437,580
    -
    $1,500,000
    $98,400
    $1,598,400

    Comparable in this City

    • Value Estimation
      $445,000
      10,510 SF

      2625 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,510 SF
      2625 3rd Ave, Denver, CO 80206-4705
      View Details
    • Value Estimation
      $500,000
      8,707 SF

      2827 3rd Ave, Unit 2859

      RETAIL STORES (PERSONAL SERVICES) • 8,707 SF
      2827 3rd Ave, Denver, CO 80206-4905
      View Details
    • Value Estimation
      $485,000
      7,646 SF

      1200 Madison St

      RETAIL STORES (PERSONAL SERVICES) • 7,646 SF
      1200 Madison St, Denver, CO 80206-3440
      View Details
    • Value Estimation
      $1,350,000
      3,654 SF

      1201 Madison St

      RETAIL STORES (PERSONAL SERVICES) • 3,654 SF
      1201 Madison St, Denver, CO 80206-3439
      View Details
    • Value Estimation
      $295,000
      685 SF

      290 Fillmore St, Unit YB

      RETAIL STORES (PERSONAL SERVICES) • 685 SF
      290 Fillmore St, Denver, CO 80206-5020
      View Details
    • Value Estimation
      $315,000
      2,910 SF

      3621 12th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,910 SF
      3621 12th Ave, Denver, CO 80206-3501
      View Details

    Similar Nearby for Sale

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      Rare retail building on Colorado Blvd with high visibility.
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      Single-Tenant Retail Investment Opportunity

      Single-tenant retail property for sale in Denver, Colorado.
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    • $70,000

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      Turnkey salon with high visibility and growth potential.
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      Functional Retail Space For Sale

      Versatile retail space suitable for various business types.
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    Similar Nearby for Lease

    • Contact for pricing
      2,780 SF

      Retail Space with Patio

      2,780 SF retail space with patio for rent.
      1233 S Colorado Blvd, Denver, CO 80206
      View Details
    • $1,950 /Mo
      602 SF

      Retail Space Available For Rent

      Retail space available for lease in Denver, Colorado.
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      View Details
    • Contact for pricing
      1,140 SF

      Denver Retail Space For Rent

      Retail space available in a high-traffic Denver location.
      1685 S Colorado Blvd, Denver, CO 80206
      View Details
    • $58 SF/Yr
      50,745 SF

      Versatile Commercial Space on 1st

      Prime Denver location, customizable space for retail, dining, or office.
      2955 E 1St Ave, Denver, CO 80206
      View Details
    • Contact for pricing
      815 SF

      Retail Space in Cherry Creek

      Charming retail space in Denver's Cherry Creek neighborhood.
      2375 E 1St Ave, Denver, CO 80206
      View Details
    • Contact for pricing
      1,656 SF

      Retail Space on Colfax Avenue

      Former sandwich shop with cooler and freezer in place.
      2205-2211 Colfax Ave, Denver, CO 80206
      View Details
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    2422 3rd Ave
    Denver, CO 80206-4704
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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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