Stabilized Multifamily Asset Near City
For Sale
$800,000
2875 N Harrison Street, Denver, CO 80205
Six-unit multifamily property with redevelopment potential in a dynamic Denver neighborhood.
Property Size4,500 SF
Lot Size0.45 Acres
Price / SF$177.78
Days on Market90
Property Features for 2875 N Harrison Street
General Information
Standard status
Active
Size
4,500 SF
Class
C
Total Parking Spaces
1
Lot size
0.45 Acres
Property subtype
Commercial
Zoning
E-MU-2.5
Taxes and HOA fees
Annual Taxes
$7,904
Building Details
Building Size
4,500 SF
Year Built
1953
Units
6
Listing Agency:
Crest Hawk Management Inc
(303) 359-1522
Listed By:
Brandon Schmidt · License #100082575
(303) 359-1522
Source:
Coloradopartners
Added: May 27
Changed: Aug 23
Last Checked: Aug 23 at 6:57AM
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 Crest Hawk Management Inc
Investment Insights
Based on property information with market context.
The property at 2875 N Harrison Street presents an opportunity to acquire a stabilized six-unit multifamily asset. It is located in a dynamic neighborhood of Denver on a 0.45-acre corner lot near City Park. The single-story brick building features individually metered gas and electric, which reduces landlord expenses and supports efficient management. The property is operating at approximately a 7.00% cap rate. The E-MU-2.5 zoning allows for multiple residential redevelopment strategies including urban houses, duplexes, and townhomes. The property is located minutes from City Park, downtown Denver, RiNo, and major redevelopment corridors. The surrounding area features an average household income exceeding $123,000 within a one-mile radius. The property offers a combination of income, location, and long-term potential.
Key Highlights
- Large 0.45‑acre corner lot with E‑MU‑2.5 zoning allows for multiple residential redevelopment strategies.
- Located minutes from City Park, downtown Denver, and RiNo in a rapidly appreciating corridor.
- Currently operating at approximately a 7.00% cap rate with additional upside through rent optimization.
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
$68,326
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
8.54%
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%
$1,366,520
$1.4M
Cap Rate 7%
$976,086
$976.1K
Cap Rate 9%
$759,178
$759.2K
Market Conditions
NOI Build-Up for 4,500 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
$132.3K $29.40/SF
− Vacancy
−$8.1K −$1.79/SF
EGI
$124.2K $27.61/SF
− OpEx
−$55.9K −$12.42/SF
NOI
$68.3K $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%
$1,366,520
Cap Rate 7%
$976,086
Cap Rate 9%
$759,178
Alternative Uses
Best Use
Apartment 5plus
$976.1K
$854.1K – $1.14M
NOI $68,326 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,276 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
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 - Six-unit multifamily property with redevelopment potential in a dynamic Denver neighborhood.
Where is this apartment building located?
The property is located at 2875 N Harrison Street Denver, CO.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Large 0.45‑acre corner lot with E‑MU‑2.5 zoning allows for multiple residential redevelopment strategies.; Located minutes from City Park, downtown Denver, and RiNo in a rapidly appreciating corridor.; Currently operating at approximately a 7.00% cap rate with additional upside through rent optimization.
