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Property profile & analytics
OFF-MARKET
Garden apartment buildings
31 Evans Ave 35 Denver, CO 80223-4139
Entity Owned
Free & Clear
Property ID
US13-0876785
Property summary
AI-generated overview
This exceptional 0.22-acre commercial land parcel, located at 31 W Evans Ave in Denver, CO 80223, presents a unique development opportunity. Zoned C-MX-3, it allows for a diverse range of uses including retail, residential, and office, with the potential for a three-story building. The property boasts a highly desirable location, just half a block from the intersection of Broadway and Evans, ensuring high visibility and accessibility. With approximately 9,375 square feet and 125 feet of frontage, this corner lot offers ample space for a substantial development. Existing utilities are in place, simplifying the construction process. The high traffic count in this vibrant Denver neighborhood guarantees significant exposure for any development. The asking price is $820,000, representing a compelling value given the property's size, location, and zoning flexibility. The APN is 5272-08-012. This is a rare chance to build in a thriving area of Denver.
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1912
Construction
WOOD
Total area
1,784 SF
Lot
0.22 ac (9,375 SF)
Zoning code
C-MX-3
APN
05272-08-012-000
UPID
US13-0876785
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Elevate Land LLC
Elevate Land LLC
since 2025
Last sale
$480,750
2 recorded transactions
Zoning & alternative use
C-MX-3 · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Tax billed
$4,587
Tax year 2023
Assessed value
$59,200
Assessed 2023
Previous assessed
$38,040
+55.6% YoY
Effective rate
7.75%
On assessed value
Assessed land
$59,130
Assessed improvement
$70
Land market value
$937,500
Improvement market value
$1,000
Total market value
$938,500
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
1912
Construction
WOOD
Heating
HOT WATER
Stories
1
Units
2
Rooms
6
Bathrooms
1
Total area
1,784 SF
Lot
0.22 ac (9,375 SF)
Zoning code
C-MX-3
APN
05272-08-012-000
UPID
US13-0876785
Jurisdiction
DENVER
Zoning & alternative use
C-MX-3 · Denver, CO
Zoning C-MX-3 · permitted uses
C-MX-3 · 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.
Building & site characteristics
From public records
Year built
1912
Construction
WOOD
Heating
HOT WATER
Stories
1
Units
2
Rooms
6
Bathrooms
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Elevate Land LLC
Entity
Free & Clear · 0 yrs held
Mailing address
12259 W BURGUNDY AVE, LITTLETON, CO 80127-2361
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2025
$480,750
Elevate Land LLC
William And Carol Forington Rev Tru
Special Warranty Deed
—
Dec 9, 2016
—
Forington,william & Carol Trust
Forington Properties LP
Quit Claim Deed
related
—
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.
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