Side-by-Side Apartment
For Sale
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1190 S Sheridan Boulevard, Denver, CO 80232
Masonry multifamily property with one-bedroom residences and E-MX-3 zoning along Sheridan Boulevard.
Property Size4,800 SF
Price / SF$338.54
Days on Market14
Property Features for 1190 S Sheridan Boulevard
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multifamily
Zoning
E-MX-3
Investment Type
Value Add
Net Operating Income
$106,075
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Building Details
Year Built
1954
Buildings
1
Units
12
Tenancy
Multi
Construction
masonry
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Hunter Schaefer · License #FA100086469
Source:
Crexi
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 10 at 8:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
This 12-unit masonry apartment property was built in 1954 and contains an all 1 bed/1 bath unit mix. The residences are arranged in a side-by-side configuration, creating a consistent layout across the building. The property contains 4,800 square feet and is zoned E-MX-3. Separate meters allow tenants to pay gas and electric charges directly to the utility company.
The property is situated on Sheridan Boulevard in southwest Denver’s Bear Valley neighborhood. South Federal Boulevard retail and dining, the Bear Creek Greenbelt, and US-285 are identified nearby, providing access to recreation, services, and the broader Denver metro area.
The property is situated on Sheridan Boulevard in southwest Denver’s Bear Valley neighborhood. South Federal Boulevard retail and dining, the Bear Creek Greenbelt, and US-285 are identified nearby, providing access to recreation, services, and the broader Denver metro area.
Key Highlights
- 12‑unit masonry apartment building constructed in 1954
- All 1 bed/1 bath units in a side‑by‑side layout
- 4,800 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,881
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,457,620
$1.5M
Cap Rate 7%
$1,041,157
$1.0M
Cap Rate 9%
$809,789
$809.8K
Market Conditions
NOI Build-Up for 4,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.1K $29.40/SF
− Vacancy
−$8.6K −$1.79/SF
EGI
$132.5K $27.61/SF
− OpEx
−$59.6K −$12.42/SF
NOI
$72.9K $15.18/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,457,620
Cap Rate 7%
$1,041,157
Cap Rate 9%
$809,789
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$911.0K – $1.21M
NOI $72,881 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,961 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 80232, CO
22,240
Population
9,594
Households
2.3
Avg Household Size
40
Median Age
37%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,703
Density / Sq Mi
$87,799
Median Household Income
$50,950
Median Earnings
$1,715
Median Rent
$487,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Masonry multifamily property with one-bedroom residences and E-MX-3 zoning along Sheridan Boulevard.
Where is this apartment building located?
The property is located at 1190 S Sheridan Boulevard Denver, CO.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 12‑unit masonry apartment building constructed in 1954; All 1 bed/1 bath units in a side‑by‑side layout; 4,800 square feet of building area
