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Property profile & analytics
OFF-MARKET
Estimated value
$43,080,000
Garden apartment buildings
9600 Girard Ave Denver, CO 80231-5082
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-0880357
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1974
Construction
WOOD
Total area
93,584 SF
Lot
5.33 ac (232,219 SF)
Zoning code
R-2-A
APN
06343-00-016-000
UPID
US13-0880357
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
Current use
Occupant on record · Public records
-
Grammercy Apartments Apartment Complex Apartment Building
-
Reverend Blasphemy Theater & Performing Art Venue Nightclub
-
Heathen Ink Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.22M
Blend (final)
Blend
$43.08M
Owner & transaction history
Grammercy Owner LLC · 3 yrs held
Grammercy Owner LLC
since 2022
Last sale
$45.0M
7 recorded transactions
Zoning & alternative use
R-2-A · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$38.3M
+31.6%
Auto repair, garage
$37.5M
+28.9%
Neighborhood: shopping center
$30.4M
+4.4%
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
Method
Estimation
Statistic approach
$44,110,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$29,090,000
Current use
RESTAURANT
$38,275,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$37,485,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$30,375,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$30,290,000
Change: +4% · Conversion: Moderate
RETAIL STORES
$30,095,000
Change: +3% · Conversion: Difficult
MEDICAL BUILDING
$28,415,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$43.08M
Range $38.77M – $47.39M · ±10% · vs last sale $45.00M (Sep 21 2022)
Last sale anchor
$45.00M
Sep 21 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$460 / SF
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
$181,857
Tax year 2023
Assessed value
$2,346,970
Assessed 2023
Previous assessed
$1,681,370
+39.6% YoY
Effective rate
7.75%
On assessed value
Assessed land
$195,980
Assessed improvement
$2,150,990
Land market value
$2,980,000
Improvement market value
$32,104,400
Total market value
$35,084,400
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
1974
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
13
Stories
2
Units
156
Rooms
46
Bathrooms
8
Total area
93,584 SF
Lot
5.33 ac (232,219 SF)
Zoning code
R-2-A
APN
06343-00-016-000
UPID
US13-0880357
Jurisdiction
DENVER
Zoning & alternative use
R-2-A · Denver, CO
Zoning R-2-A · permitted uses
R-2-A · 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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$29.1M
RESTAURANT
Est. value
$38.3M
AUTO REPAIR, GARAGE
Est. value
$37.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$30.4M
COMMERCIAL (GENERAL)
Est. value
$30.3M
RETAIL STORES
Est. value
$30.1M
MEDICAL BUILDING
Est. value
$28.4M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
13
Units
156
Rooms
46
Bathrooms
8
Lot
5.33 ac
Current owner
From public records · entity-resolved
Grammercy Owner LLC
Entity
Mailing address
7730 3RD AVE SW, CARMEL, IN 46032
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2022
$45,000,000
Grammercy Owner LLC
New Grammercy LLC
Special Warranty Deed
$35,560,000 · United Fidelity Bank Fsb
Feb 25, 2021
—
New Grammercy LLC
—
Deed
related
$24,800,000 · United Fidelity Bank Fsb
Mar 29, 2019
$25,800,000
New Grammercy LLC
Fpa5 The Glen LLC
Warranty Deed
—
Dec 2, 2016
$16,600,000
Fpa5 Glen LLC
Denver Glen III LLC
Grant Deed
—
Dec 2, 2016
—
Fpa5 Glen LLC
Denver Glen III LLC
Quit Claim Deed
related
$10,575,000 · * Other Institutional Lenders
Dec 10, 2014
—
Denver Glen III LLC
Denver Glen III Lllp
Quit Claim Deed
$10,575,000 · Cbre Cap Markets
Aug 30, 2007
—
Denver Glen Lllp III
Denver Glen II Ltd
Quit Claim Deed
related
$5,250,000 · Capmark Bank
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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