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3rd Avenue Market 300-306 Elati St 5,531 SF 100% Leased Office Building Denver, CO 80223 $1,600,000 ($289.28/SF) 6.51% Cap Rate
Investment Highlights
- Century-old historic building offers authentic character and streetscape presence that cannot be replicated through new construction.
- Tenant roster anchored by a Live Nation-affiliated operator, adding brand strength and visibility to the asset.
- Positioned in a supply-constrained, amenity-rich submarket experiencing continued reinvestment.104
- Fully leased at the time of offering, with two distinct, non-competing commercial uses.
- Infill Denver location with long-term redevelopment and value-add optionality, subject to applicable historic and zoning considerations.
Executive Summary
300–306 Elati St. is a historic, character-rich commercial building situated in Denver’s vibrant Baker neighborhood. Built over a century ago, the property blends original architectural detail with a fully leased, diversified tenant roster, offering an investor or owner user a rare combination of irreplaceable urban infill real estate and stable in-place income. The entire property was taken to the studs by previous owner in 2005, with all systems updated and interior renovated.
Located just south of the Denver Health Medical Campus and minutes from Downtown Denver, the Property sits within one of the city’s most walkable and rapidly evolving submarkets. The building spans approximately 5,939 square feet across two stories and is fully occupied by two complementary commercial tenants, each drawing a distinct daytime and evening customer base to the immediate corridor.
Located just south of the Denver Health Medical Campus and minutes from Downtown Denver, the Property sits within one of the city’s most walkable and rapidly evolving submarkets. The building spans approximately 5,939 square feet across two stories and is fully occupied by two complementary commercial tenants, each drawing a distinct daytime and evening customer base to the immediate corridor.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
5,531 SF
Building Class
B
Year Built
1936
Price
$1,600,000
Price Per SF
$289.28
Cap Rate
6.51%
NOI
$104,185
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,766 SF
Slab To Slab
10’
Building FAR
1.59
Lot Size
0.08 AC
Zoning
U-MX-2
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Abaci Financial, LLC
- Finance and Insurance
- -
- -
- -
- Blackbook Gallery
- Retailer
- -
- -
- -
- Echinacea Montessori School
- Educational Services
- -
- -
- -
- Intelligent Investments
- Finance and Insurance
- -
- -
- -
- Under the Umbrella Cafe
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Abaci Financial, LLC | Finance and Insurance | - | - | - | ||
| Blackbook Gallery | Retailer | - | - | - | ||
| Echinacea Montessori School | Educational Services | - | - | - | ||
| Intelligent Investments | Finance and Insurance | - | - | - | ||
| Under the Umbrella Cafe | - | - | - | - |
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Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 5102-21-028 | Improvements Assessment | $68,990 |
| Land Assessment | $68,990 | Total Assessment | $329,970 |
Property Taxes
Parcel Number
5102-21-028
Land Assessment
$68,990
Improvements Assessment
$68,990
Total Assessment
$329,970
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