Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    251 Steele St, Unit B Denver, CO 80206-5233

    • Retail space
    • 957 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    4.5%
    Retail space
    Location Intelligence
    Property ID
    US13-1304218
    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

    • Denver Tattoo Removal / Tattoo Removal Service
    • OSTER Jewelers / Watch Store / Jewelry Store
    • VITAHL Medical Aesthetics / Skin Care Clinic / Medical Spa
    • BonRok / General Contractor

    Property Details for 251 Steele St

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    0.02 lot acres
    Property size
    957 SF
    Zone code
    C-CCN-5
    Property type
    Retail space
    APN
    05122-17-031-031
    APU
    512217031031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $220,000
      6.5%
      $200,000
      7%
      $185,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $385,000
      Market price range: $174k - $449k

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.95
    Latitude
    39.7205
    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
    $13,347
    $122,340
    $17,970
    $140,310
    -
    $468,500
    $64,400
    $532,900

    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
      $455,000
      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
      $285,000
      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

    • $1,535,000
      2,440 SF

      Colfax Ave Retail Investment

      Denver storefront, 100% occupied, high cap rate.
      2344 Colfax Ave, Denver, CO 80206
      View Details
    • $5,610,000

      Single-Tenant Retail Investment Opportunity

      Single-tenant retail property for sale in Denver, Colorado.
      2222 S Colorado Blvd, Denver, CO 80206
      View Details
    • $70,000

      Remodeled Salon on Colfax Avenue

      Turnkey salon with high visibility and growth potential.
      2406 E Colfax Ave, Denver, CO 80206
      View Details
    • $1,449,000
      1,980 SF

      Colorado Blvd Retail Building For Sale

      Rare retail building on Colorado Blvd with high visibility.
      333 S Colorado Blvd, Denver, CO 80206
      View Details
    • $1,350,000
      2,324 SF

      Functional Retail Space For Sale

      Versatile retail space suitable for various business types.
      399 S Harrison St, Denver, CO 80206
      View Details
    • $1,535,000
      2,440 SF

      Retail Property on High-Traffic Corner

      Retail property with redevelopment potential near East High School.
      2344 E Colfax Ave, Denver, CO 80206
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      2,243 SF

      Denver Retail Space For Rent

      Dynamic Denver retail space available for lease.
      1699 S Colorado Blvd, Denver, CO 80206
      View Details
    • Contact for pricing
      1,382 SF

      Retail Space on East Colfax

      1,382 SF retail space in City Park West neighborhood.
      Denver, CO 80206
      View Details
    • Contact for pricing
      5,448 SF

      Retail Space in Denver, CO

      Retail space available for lease in Denver, Colorado.
      299 Milwaukee St, Denver, CO 80206
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    251 Steele St, Unit B
    Denver, CO 80206-5233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.