Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    606 W Colfax Ave Denver, CO 80204
    Back to Search
    Property profile & analytics

    606 W Colfax Ave, Denver, CO 80204

    View on Map
    • Banks
    • 0.31 lot acres
    For Sale
    $1,475,000
    View Listing →
    Prime Redevelopment Site in Denver For Sale
    $1,475,000
    1,226 SF

    Prime Redevelopment Site in Denver

    Redevelopment opportunity in Denver's Golden Triangle near downtown.

    606 W Colfax Ave, Denver, CO 80204
    View Listing
    Property ID
    US13-1351846
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bank of Denver / Bank / Credit Union

    Property Details for 606 W Colfax Ave

    Year built
    1983
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Zone code
    GTR
    Property type
    Banks
    APN
    05034-03-037-000
    APU
    503403037000

    Description

    This exceptional 13,485 square foot commercial land parcel, located at 606 W Colfax Avenue in Denver, Colorado's vibrant Golden Triangle neighborhood, presents a compelling redevelopment opportunity. Currently zoned D-GT, this site allows for a diverse range of development options, including a mixed-use structure up to 66 feet tall, subject to the State Capitol view plane. The property boasts a highly desirable location, situated near Denver's central business district, with easy access to numerous hotels, restaurants, retail establishments, and government facilities. The high daily traffic count on West Colfax Avenue (38,761 cars per day) provides exceptional visibility and accessibility. The existing 1,226 square foot, single-story building, formerly occupied by a bank, features two drive-thru bays and could be repurposed or demolished to accommodate a new development. This site is ideal for a high-density mixed-use project or a drive-thru retail establishment. The seller is open to considering build-to-suit options for retail redevelopment. The asking price for this remarkable property is $2,200,000. The property was built in 1981 and sits on a 13,485 square foot lot in the 80204 zip code. The seller may consider owner financing. This is a rare chance to acquire a prime piece of real estate in a rapidly growing area of Denver.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.996
    Latitude
    39.7397
    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
    $48,051
    $555,990
    $64,140
    $620,130
    -
    $2,022,800
    $229,900
    $2,252,700

    Comparable in this City

    • Value Estimation
      $4,995,000
      3,646 SF

      740 Colfax Ave

      FINANCIAL BUILDING
      740 Colfax Ave, Denver, CO 80204-2613
      View Details
    • Value Estimation
      $1,755,000
      2,543 SF

      1028 Acoma St

      FINANCIAL BUILDING
      1028 Acoma St, Denver, CO 80204-4035
      View Details
    • Value Estimation
      $1,625,000
      21,848 SF

      1075 Acoma St

      FINANCIAL BUILDING
      1075 Acoma St, Denver, CO 80204-4034
      View Details
    • Value Estimation by Request
      2,947 SF

      1095 Federal Blvd

      FINANCIAL BUILDING
      1095 Federal Blvd, Denver, CO 80204-3216
      View Details
    • Value Estimation
      $1,815,000
      2,023 SF

      1275 Tremont Pl

      FINANCIAL BUILDING
      1275 Tremont Pl, Denver, CO 80204-2118
      View Details
    • Value Estimation
      $38,400,000
      1,721,086 SF

      2700 17th Ave

      GYM, HEALTH SPA
      2700 17th Ave, Denver, CO 80204
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,226 SF

      Colfax Avenue Redevelopment Opportunity

      Redevelopment site with high traffic counts near downtown Denver.
      606 Colfax Ave, Denver, CO 80204
      View Details
    • Contact for pricing

      Prime Redevelopment Site in Denver

      Redevelopment opportunity in Denver's Golden Triangle near downtown.
      606 W Colfax Ave, Denver, CO 80204
      View Details
    • Contact for pricing
      6,312 SF

      Retail Property on Colfax Avenue

      Retail property with redevelopment potential and high visibility.
      4545 W Colfax Ave, Denver, CO 80204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,655 SF

      Office/Retail Suites For Rent

      Office and retail suites available for lease.
      1070 Bannock St, Denver, CO 80204
      View Details
    • Contact for pricing
      2,120 SF

      Retail Space Available For Rent

      Retail spaces with patio options available for lease.
      1010 W Colfax Ave, Denver, CO 80204
      View Details
    • Contact for pricing
      2,845 SF

      Retail Space on Santa Fe

      Retail space with excellent visibility and high-traffic location.
      755-777 Santa Fe Dr, Denver, CO 80204
      View Details
    View Listing
    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.
    606 W Colfax Ave
    Denver, CO 80204
    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

    Thank You for Inquiry
    606 W Colfax Ave, Denver, CO, 80204
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!