Duplex with Rooftop
New
For Sale
$950,000
2365 S Cherokee Street, Denver, CO 80223
Multi-level duplex with flexible living areas, private outdoor space, and a detached two-car garage.
Property Size3,021 SF
Days on Market6
Property Features for 2365 S Cherokee Street
General Information
Standard status
Active
Size
3,021 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,531
Building Details
Building Size
3,021 SF
Year Built
2026
Listing Agency:
Real Broker, LLC DBA Real
Listed By:
Jennifer McManus · License #100068841
(303) 912-8553
Source:
Guidere
Added: Sep 3
Changed: Sep 6
Last Checked: Sep 7 at 7:48AM
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 Real Broker, LLC DBA Real
Investment Insights
Based on property information with market context.
This 2026-built duplex at 2365 S Cherokee Street presents a multi-level configuration with hardwood floors, an open kitchen and living area, a dedicated office, and multiple living zones. The second level includes a primary suite with a spa-inspired bath, a secondary bedroom with an en suite bath, built-in storage, and laundry. A finished basement adds two bedrooms, a full bath, a second living area, and a wet bar.
The upper level provides a bonus room, wet bar, half bath, and access to a west-facing rooftop deck with mountain views and a privacy wall. A detached two-car garage includes an 8-foot-high door and additional storage clearance. The property is 0.5 miles from Evans Light Rail Station and Harvard Gulch Park, 1 mile from S. Pearl Street in Platt Park, and 2.5 miles from Wash Park. Walkable access to SOBO shops and restaurants, the S. Platte River Trail, Downtown Denver, and DTC is also noted.
The upper level provides a bonus room, wet bar, half bath, and access to a west-facing rooftop deck with mountain views and a privacy wall. A detached two-car garage includes an 8-foot-high door and additional storage clearance. The property is 0.5 miles from Evans Light Rail Station and Harvard Gulch Park, 1 mile from S. Pearl Street in Platt Park, and 2.5 miles from Wash Park. Walkable access to SOBO shops and restaurants, the S. Platte River Trail, Downtown Denver, and DTC is also noted.
Key Highlights
- 2026‑built duplex with multi‑level layout and hardwood floors
- Finished basement with two bedrooms, full bath, living area, and wet bar
- Rooftop deck with west‑facing mountain views and privacy wall
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
$50,205
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
5.28%
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%
$1,004,100
$1.0M
Cap Rate 7%
$717,214
$717.2K
Cap Rate 9%
$557,833
$557.8K
Market Conditions
NOI Build-Up for 3,021 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
$76.1K $25.20/SF
− Vacancy
−$4.4K −$1.46/SF
EGI
$71.7K $23.74/SF
− OpEx
−$21.5K −$7.12/SF
NOI
$50.2K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,004,100
Cap Rate 7%
$717,214
Cap Rate 9%
$557,833
Alternative Uses
Best Use
Multifamily LT 5
$717.2K
$627.6K – $836.8K
NOI $50,205 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$655.3K
$573.4K – $764.5K
NOI $45,870 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$961.7K
$841.5K – $1.12M
NOI $67,319 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,086
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multi-level duplex with flexible living areas, private outdoor space, and a detached two-car garage.
Where is this duplex located?
The property is located at 2365 S Cherokee Street Denver, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2026‑built duplex with multi‑level layout and hardwood floors; Finished basement with two bedrooms, full bath, living area, and wet bar; Rooftop deck with west‑facing mountain views and privacy wall
