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

    4923 W 38Th Ave Denver, CO 80212

    • Turn key restaurants
    • 7,650 SF
    • 0.18 lot acres
    For Sale
    View listing
    $1,765,000
    Last Sale
    May 30, 2024
    $1,499,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0960005
    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

    • Cisco's Kids / Live Music Venue
    • ATM / Atm
    • Enigma Bazaar / Greek Restaurant / Live Music Bar

    Property Details for 4923 W 38Th Ave

    Year built
    1926
    Construction
    WOOD
    Lot size
    0.18 lot acres
    Property size
    7,650 SF
    Zone code
    U-MX-3
    Property type
    Turn key restaurants
    APN
    02193-27-012-000
    APU
    219327012000

    Description

    This exceptional retail property, located at 4923 W 38th Avenue in Denver, Colorado, presents a unique investment opportunity. The 3,520 square foot space is situated in the highly desirable West Highlands neighborhood, known for its historic charm and vibrant community. This multi-tenant building offers a prime location within a bustling area, boasting convenient access to nearby residents and businesses. Its strategic placement provides excellent visibility and foot traffic. The property's proximity to the Tennyson Street cultural district adds to its appeal, placing it within easy reach of a diverse range of amenities and attractions. Furthermore, the presence of established businesses such as Sprouts, King Soopers, and Snarfs in the immediate vicinity underscores the area's strong commercial activity and high consumer demand. This makes it an ideal location for a variety of retail or restaurant uses. The property is in Denver County, Colorado, with a zip code of 80212. This is a rare chance to secure a space in one of Denver's premier retail neighborhoods. The property is currently available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,922,000
      Market price range: $1.92M - $4.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -105.051
    Latitude
    39.7695
    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
    $31,581
    $180,210
    $227,360
    $407,570
    -
    $675,900
    $814,900
    $1,490,800

    Comparable in this City

    • Value Estimation
      $3,405,000
      7,752 SF

      4499 38th Ave

      RESTAURANT • 7,752 SF
      4499 38th Ave, Denver, CO 80212-2199
      View Details
    • Value Estimation
      $320,000
      4,453 SF

      4368 10th St

      RESTAURANT • 4,453 SF
      4368 10th St, Denver, CO 80212-2308
      View Details
    • Value Estimation
      $360,000
      5,313 SF

      3900 10th St

      RESTAURANT • 5,313 SF
      3900 10th St, Denver, CO 80212-2114
      View Details
    • Value Estimation
      $4,970,000
      12,086 SF

      4275 10th St

      RESTAURANT • 12,086 SF
      4275 10th St, Denver, CO 80212-2305
      View Details
    • Value Estimation
      $365,000
      3,348 SF

      4160 10th St

      RESTAURANT • 3,348 SF
      4160 10th St, Denver, CO 80212-2117
      View Details
    • Value Estimation
      $1,450,000
      4,690 SF

      3961 10th St

      RESTAURANT • 4,690 SF
      3961 10th St, Denver, CO 80212-2113
      View Details

    Similar Nearby for Sale

    • $1,150,000
      1,837 SF

      Denver Retail/Office Opportunity

      Prime Denver location, 1837 sq ft, seller financing.
      4928 29Th Ave, Denver, CO 80212
      View Details
    • $1,765,000
      5,885 SF

      West Denver Multi-Tenant Retail Building

      Retail building in West Denver with recent upgrades and high visibility.
      4923 W 38Th Ave, Denver, CO 80212
      View Details
    • $995,000
      1,503 SF

      Tennyson Street Retail Space Available

      Prime retail space in vibrant Berkeley neighborhood with parking.
      4258 Denver Pl, Denver, CO 80212
      View Details
    • $850,000
      3,148 SF

      Retail Strip in Highlands Neighborhood

      Retail strip with parking on a main thoroughfare.
      4880-4902 W 38Th Ave, Denver, CO 80212
      View Details
    • $2,400,000
      10,320 SF

      Wheat Ridge Retail Center

      High-visibility retail investment
      5890 44Th Ave, Wheat Ridge, CO 80212
      View Details
    • $995,000
      1,503 SF

      Tennyson Street Retail Space Available

      Prime retail space in vibrant Denver location, divisible with parking.
      4258 Tennyson St #102, Denver, CO 80212
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,020 SF

      Tennyson Street Retail Opportunity

      Denver Retail Spaces: 6 Units Available
      4560 Tennyson St, Denver, CO 80212
      View Details
    • Contact for pricing
      2,883 SF

      Retail Space on Tennyson Street

      Retail space available in thriving Denver location.
      4499 W 38Th Ave, Denver, CO 80212
      View Details
    • $10 SF/Yr
      3,969 SF

      Wheat Ridge Retail/Office Space

      Retail/office space in walkable Wheat Ridge neighborhood with parking.
      5712 W 38Th Ave, Wheat Ridge, CO 80212
      View Details
    • $199,000
      360 SF

      Modern Office or Retail Space

      360 SF building, ideal for office or retail use.
      4411 Yates St, Denver, CO 80212
      View Details
    • $21 SF/Yr
      805 SF

      Highlands Garden Retail Space

      805 SF Retail, Denver's Highlands
      4600 38Th Ave, Denver, CO 80212
      View Details
    • $27 SF/Yr
      3,144 SF

      Wheat Ridge Liquor Store Opportunity

      Prime Retail Space, Liquor License Included
      5800 44Th Ave, Denver, CO 80212
      View Details
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    Denver, CO 80212
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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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