Corner Lot Industrial
For Sale
Contact for pricing
1273-1279 S Cherokee St, Denver, CO 80223
Multi-tenant industrial/flex property on a corner lot with loading access, offered primarily as an infill redevelopment site.
Property Size18,642 SF
Price / SF$209.21
Days on Market64
Property Features for 1273-1279 S Cherokee St
General Information
Standard status
Active
Size
18,642 SF
Property subtype
Industrial
Zoning
I-B, UO-2
Lease Type
Gross
Net Operating Income
$127,299
Building Details
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Panorama Commercial Group
(303) 420-5352
Listed By:
Mark Pyms · License #CO er314551
Source:
Crexi
Added: Jun 6
Changed: Aug 7
Last Checked: Aug 8 at 1:41PM
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 Panorama Commercial Group
Investment Insights
Based on property information with market context.
The offering consists of 1273-1279 S Cherokee Street, a multi-tenant industrial/flex property configured as small-bay units. The site includes multiple drive-in and loading points, along with generous yard and parking areas intended to support day-to-day logistics and on-site operations. Zoning is I-B, UO-2, and while the existing improvements are functional, the offering is positioned primarily as a land redevelopment opportunity.
The property sits on a corner lot at Cherokee Street and Louisiana Avenue in Denver’s Santa Fe/Mississippi industrial corridor within the Overland neighborhood. The remarks note convenient access to major highways and Denver’s central business district, and also describe the location as within walking distance of the I-25 & Broadway RTD light rail station. The surrounding area is described as actively transforming, including the Gates District at Broadway Station and additional planned activity in the broader Santa Fe Yards area.
For tenants and investors, the current configuration provides small-bay industrial/flex space with short-term occupancy described as 2–3 years and generating gross income of approximately $17,260 per month. For buyers evaluating redevelopment, the land is presented as the primary value driver, making the site most suitable for infill re-use and future repositioning in a closely connected transit-and-industrial setting.
The property sits on a corner lot at Cherokee Street and Louisiana Avenue in Denver’s Santa Fe/Mississippi industrial corridor within the Overland neighborhood. The remarks note convenient access to major highways and Denver’s central business district, and also describe the location as within walking distance of the I-25 & Broadway RTD light rail station. The surrounding area is described as actively transforming, including the Gates District at Broadway Station and additional planned activity in the broader Santa Fe Yards area.
For tenants and investors, the current configuration provides small-bay industrial/flex space with short-term occupancy described as 2–3 years and generating gross income of approximately $17,260 per month. For buyers evaluating redevelopment, the land is presented as the primary value driver, making the site most suitable for infill re-use and future repositioning in a closely connected transit-and-industrial setting.
Key Highlights
- Corner lot at 1273‑1279 S Cherokee St totaling approx. 35,250 SF (.81 acres) in Denver’s Santa Fe/Mississippi industrial corridor (Overland).
- Zoned I‑B, UO‑2; offered primarily as an infill redevelopment site.
- Existing small‑bay industrial/flex improvements with multiple drive‑in and loading points.
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
$192,639
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
4.94%
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%
$3,852,780
$3.9M
Cap Rate 7%
$2,751,986
$2.8M
Cap Rate 9%
$2,140,433
$2.1M
Market Conditions
NOI Build-Up for 18,642 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
$246.1K $13.20/SF
− Vacancy
−$19.4K −$1.04/SF
EGI
$226.6K $12.16/SF
− OpEx
−$34.0K −$1.82/SF
NOI
$192.6K $10.33/SF
Area
Denver, CO
Vacancy
7.90%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$3,852,780
Cap Rate 7%
$2,751,986
Cap Rate 9%
$2,140,433
Alternative Uses
Best Use
Warehouse
$2.75M
$2.41M – $3.21M
NOI $192,639 @ 7.0% cap · market cap 4.94%
Second Best
Flex RnD
$2.48M
$2.17M – $2.90M
NOI $173,907 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$5.93M
$5.19M – $6.92M
NOI $415,409 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant industrial/flex property on a corner lot with loading access, offered primarily as an infill redevelopment site.
Where is this flex space located?
The property is located at 1273-1279 S Cherokee St Denver, CO.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Corner lot at 1273‑1279 S Cherokee St totaling approx. 35,250 SF (.81 acres) in Denver’s Santa Fe/Mississippi industrial corridor (Overland).; Zoned I‑B, UO‑2; offered primarily as an infill redevelopment site.; Existing small‑bay industrial/flex improvements with multiple drive‑in and loading points.
