Duplex with Rooftop
For Sale
$1,084,900
2402 S Cherokee St, Denver, CO 80223
Newly built duplex with rooftop entertaining, four bedrooms, five bathrooms, and dual HVAC systems for year-round comfort.
Property Size3,176 SF
Days on Market105
Property Features for 2402 S Cherokee St
General Information
Standard status
Active
Size
3,176 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,531
Amenities
infrared sauna
cold plunge
rooftop terrace
party room
dual HVAC systems
Building Details
Building Size
3,176 SF
Year Built
2025
Listing Agency:
RE/MAX Professionals
Listed By:
Anthony Grandt · License #FA100025594
(720) 394-8829
Source:
Guidere
Added: Jun 4
Changed: Sep 10
Last Checked: Sep 15 at 9:49AM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
Newly built in 2025, this duplex at 2402 S Cherokee St, Denver, CO 80223 offers a bright, open-concept layout designed for everyday living and entertaining. The home features four bedrooms and five bathrooms, including a primary suite with vaulted ceilings and a five-piece spa-inspired bathroom. The wellness suite includes an infrared sauna and a cold plunge, and the top level provides additional flexibility with a bedroom suited for a home office or guest use plus an expansive party room.
The finished basement adds further livability with a guest suite and a large, versatile entertainment area. Outdoor living is centered on a rooftop setting for relaxing, hosting, and enjoying Colorado sunshine and sweeping mountain views.
Dual HVAC systems with two furnaces and two air conditioners provide enhanced comfort and balanced heating and cooling throughout the home year-round. Steps from the Evans light rail station, the property supports convenient daily access.
The finished basement adds further livability with a guest suite and a large, versatile entertainment area. Outdoor living is centered on a rooftop setting for relaxing, hosting, and enjoying Colorado sunshine and sweeping mountain views.
Dual HVAC systems with two furnaces and two air conditioners provide enhanced comfort and balanced heating and cooling throughout the home year-round. Steps from the Evans light rail station, the property supports convenient daily access.
Key Highlights
- Built in 2025 duplex with four bedrooms and five bathrooms
- Rooftop entertainment space with sweeping mountain views
- Wellness suite features an infrared sauna and cold plunge
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
$52,781
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
4.87%
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%
$1,055,620
$1.1M
Cap Rate 7%
$754,014
$754.0K
Cap Rate 9%
$586,456
$586.5K
Market Conditions
NOI Build-Up for 3,176 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
$80.0K $25.20/SF
− Vacancy
−$4.6K −$1.46/SF
EGI
$75.4K $23.74/SF
− OpEx
−$22.6K −$7.12/SF
NOI
$52.8K $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%
$1,055,620
Cap Rate 7%
$754,014
Cap Rate 9%
$586,456
Alternative Uses
Best Use
Multifamily LT 5
$754.0K
$659.8K – $879.7K
NOI $52,781 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$688.9K
$602.8K – $803.7K
NOI $48,223 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.01M
$884.7K – $1.18M
NOI $70,772 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built duplex with rooftop entertaining, four bedrooms, five bathrooms, and dual HVAC systems for year-round comfort.
Where is this duplex located?
The property is located at 2402 S Cherokee St Denver, CO.
What is the asking price?
The asking price for this property is $1,084,900.
What are key features of this property?
This property features: Built in 2025 duplex with four bedrooms and five bathrooms; Rooftop entertainment space with sweeping mountain views; Wellness suite features an infrared sauna and cold plunge
