Residential Portfolio Redevelopment
For Sale
$1,200,000
1144-1150 S Cherokee Street, Denver, CO 80223
Portfolio sale of four properties zoned for light industrial.
Property Size5,145 SF
Days on Market700
Property Features for 1144-1150 S Cherokee Street
General Information
Standard status
Active
Size
5,145 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Overland
Taxes and HOA fees
Annual Taxes
$1,585
Building Details
Building Size
5,145 SF
Year Built
1892
Listing Agency:
Realspace Commercial Real Estate Llc
Listed By:
Michael Corbey · License #040024487
(720) 771-6600
Source:
Guidere
Added: Nov 22, 2024
Changed: Oct 16
Last Checked: Oct 23 at 1:08PM
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 Realspace Commercial Real Estate Llc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a portfolio sale consisting of four individual properties, offered together. The land is zoned I-A (light industrial). The properties can continue to be used for residential purposes after renovations are completed. This offering presents a redevelopment or remodeling opportunity. All properties require cosmetic and some structural repairs to maximize cash flow. The properties can be delivered vacant, ready for project commencement.
Key Highlights
- Portfolio sale of four individual properties.
- Zoned I‑A (light industrial).
- Redevelopment or remodeling opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,120
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,562,400
$1.6M
Cap Rate 7%
$1,116,000
$1.1M
Cap Rate 9%
$868,000
$868.0K
Market Conditions
NOI Build-Up for 5,145 SF
Gross rent
$151.3K $29.40/SF
− Vacancy
−$9.2K −$1.79/SF
EGI
$142.0K $27.61/SF
− OpEx
−$63.9K −$12.42/SF
NOI
$78.1K $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 Rate 5%
$1,562,400
Cap Rate 7%
$1,116,000
Cap Rate 9%
$868,000
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.5K – $1.30M
NOI $78,120 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,649 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Portfolio sale of four properties zoned for light industrial.
Where is this residential income property located?
The property is located at 1144-1150 S Cherokee Street Denver, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Portfolio sale of four individual properties.; Zoned I‑A (light industrial).; Redevelopment or remodeling opportunity.
