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    Property profile & analytics

    383 Corona St Denver, CO 80218-3945

    • Office buildings
    • 8,885 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0531926
    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

    • gmr | LA / Landscaping / (Bike/Boat/Book/etc) Store
    • Fluent Conveyors / Industrial Manufacturer / Production Facility
    • Austin D. New CPA / Accounting Firm
    • Facet Creative / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • AKAVIT / Advertising Agency / Marketing & Advertising

    Property Details for 383 Corona St

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    8,885 SF
    Zone code
    U-MX-2
    Property type
    Office buildings
    APN
    05112-16-003-000
    APU
    511216003000

    Description

    This exceptional investment opportunity presents a two-building, multi-tenant creative office complex at 383-393 Corona Street, Denver, Colorado 80218. Boasting 15,641 square feet across two buildings constructed in 1910 and 1950, and extensively renovated in 2013, this Class B property offers a compelling blend of historic charm and modern functionality. The property sits on a 15,624 square foot lot and includes 26 parking spaces. Currently configured as a thriving workspace, it features private offices, coworking areas, meeting rooms, and event space, making it ideal for an owner-user or investor seeking a turnkey operation. Located in the desirable Country Club neighborhood, the property benefits from its proximity to Denver's central business district, fine dining, Cherry Creek Shopping Center, and the Denver Botanic Gardens. The U-MX-2 zoning allows for flexible uses, catering to a variety of business needs. Its convenient location offers easy access to major thoroughfares and public transportation, while also enjoying a pedestrian and bike-friendly environment with numerous nearby amenities including grocery stores, restaurants, shops, and coffee shops. The asking price is $7,200,000, translating to $460.33 per square foot. This well-maintained property presents a rare opportunity to acquire a thriving, multi-tenant office building in a highly sought-after Denver location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,315,000
      6.5%
      $2,135,000
      7%
      $1,985,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,252,000
      Market price range: $343k - $1.78M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,275,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.974
    Latitude
    39.7218
    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
    $52,993
    $109,310
    $574,600
    $683,910
    -
    $421,800
    $2,059,500
    $2,481,300

    Comparable in this City

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      $3,500,000
      23,832 SF

      1567 Marion St

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      1567 Marion St, Denver, CO 80218-1512
      View Details
    • Value Estimation
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      20,169 SF

      825 Speer Blvd

      OFFICE BUILDING • 20,169 SF
      825 Speer Blvd, Denver, CO 80218-3719
      View Details
    • Value Estimation
      $2,625,000
      20,490 SF

      1700 Marion St

      OFFICE BUILDING • 20,490 SF
      1700 Marion St, Denver, CO 80218-1121
      View Details
    • Value Estimation
      $1,490,000
      2,364 SF

      500 Downing St

      OFFICE BUILDING • 2,364 SF
      500 Downing St, Denver, CO 80218-3403
      View Details
    • Value Estimation by Request
      0.43 Acres

      1535 High St

      OFFICE BUILDING • 0.43 Acres
      1535 High St, Denver, CO 80218-1704
      View Details
    • Value Estimation
      $5,185,000
      35,124 SF

      1825 Marion St

      OFFICE BUILDING • 35,124 SF
      1825 Marion St, Denver, CO 80218-1122
      View Details

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    383 Corona St
    Denver, CO 80218-3945
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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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