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

    6880 Evans Ave Denver, CO 80224-2330

    • Retail space
    • 5,141 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    May 10, 2022
    $2,250,000
    Value Estimations
    $2,180,000
    Show details
    Cap Rate Potential
    3.3%
    Retail space
    Location Intelligence
    Property ID
    US13-0266142
    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

    • Retail space

    Property Details for 6880 Evans Ave

    Year built
    1980
    Construction
    WOOD
    Lot size
    0.90 lot acres
    Property size
    5,141 SF
    Zone code
    S-CC-3X
    Property type
    Retail space
    APN
    06291-00-077-000
    APU
    629100077000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,145,000
      ML approach
      $2,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,294,000
      Market price range: $935k - $2.41M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,655,000
      Current use
      RESTAURANT
      $2,105,000
      Change: +27% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,060,000
      Change: +25% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,670,000
      Change: +1% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,665,000
      Change: +1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,600,000
      Change: -3% Conversion: Difficult
      MEDICAL BUILDING
      $1,560,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.909
    Latitude
    39.678
    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
    $37,487
    $483,510
    $280
    $483,790
    -
    $1,763,000
    $1,000
    $1,764,000

    Comparable in this City

    • Value Estimation
      $320,000
      1,920 SF

      701 Monaco Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      701 Monaco Pkwy, Denver, CO 80224-1526
      View Details
    • Value Estimation
      $560,000
      13,048 SF

      3425 Oleander Ct

      RETAIL STORES (PERSONAL SERVICES) • 13,048 SF
      3425 Oleander Ct, Denver, CO 80224-2906
      View Details
    • Value Estimation
      $470,000
      9,009 SF

      6200 Leetsdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,009 SF
      6200 Leetsdale Dr, Denver, CO 80224-3200
      View Details
    • Value Estimation
      $350,000
      4,218 SF

      6805 Leetsdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,218 SF
      6805 Leetsdale Dr, Denver, CO 80224-1522
      View Details
    • Value Estimation
      $340,000
      4,030 SF

      5601 Leetsdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,030 SF
      5601 Leetsdale Dr, Denver, CO 80224-1220
      View Details
    • Value Estimation
      $480,000
      5,760 SF

      6677 Leetsdale Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,760 SF
      6677 Leetsdale Dr, Denver, CO 80224-1598
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,024 SF

      Denver Retail Pharmacy - Leetsdale Drive

      Prime Denver Retail Space, High Visibility
      6336 Leetsdale Dr, Denver, CO 80224
      View Details
    • $315,000

      Updated Condo in Club Monaco

      Stylish, updated 2-bedroom condo with modern amenities and convenient location.
      1160 S Monaco Pkwy, Denver, CO 80224
      View Details
    • $600,000

      Denver Commercial Land - $600K

      0.44-acre corner lot, high-density area.
      2040 Oneida St, Denver, CO 80224
      View Details
    • $595,000

      Evans Avenue Commercial Land Opportunity

      1.33 acre commercial land for sale on Evans Avenue.
      6635 E Evans Ave, Denver, CO 80224
      View Details
    • $799,000

      Denver Development Opportunity For Sale

      Commercial mixed-use land for sale in Denver, Colorado.
      833 S Monaco St Pkwy, Denver, CO 80224
      View Details
    • $3,999,000
      17,823 SF

      Denver Medical/Office Building

      17,823 SF Office, Value-Add Opportunity
      2015 Pontiac Way, Denver, CO 80224
      View Details

    Similar Nearby for Lease

    • $8,000 /Mo
      5,422 SF

      Retail Space on Leetsdale Drive

      Retail space with high visibility and walkable neighborhood.
      6336 Leetsdale Dr, Denver, CO 80224
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Denver Center

      Retail space available in a busy Denver shopping center.
      850-890 Monaco Pkwy, Denver, CO 80224
      View Details
    • Contact for pricing
      5,923 SF

      South Lowry Marketplace Offices

      Retail & Office Spaces Available Now!
      7150 Leetsdale Dr, Denver, CO 80224
      View Details
    • $26 SF/Yr
      1,680 SF

      Restaurant Space with Liquor License

      Restaurant space available with transferable liquor license in Denver.
      6603 Leetsdale Dr, Denver, CO 80224
      View Details
    • $16 SF/Yr
      1,933 SF

      Denver Office Space For Rent

      Office space featuring reception area, conference room, and window offices.
      6795-6825 East Tennessee Ave, Denver, CO 80224
      View Details
    • $16 SF/Yr
      65,000 SF

      Oneida Tower Office Space

      Denver Cherry Creek Office Suites
      2121 Oneida St, Denver, CO 80224
      View Details
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    6880 Evans Ave
    Denver, CO 80224-2330
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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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