New Construction
For Sale
$1,000,000
3838 N Perry St 6-601, Denver, CO 80212
Open-concept design, contemporary finishes, natural light, and energy-efficient construction define this low-maintenance property.
Property Size1,897 SF
Days on Market88
Property Features for 3838 N Perry St 6-601
General Information
Standard status
Active
Size
1,897 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,000
Building Details
Building Size
1,897 SF
Year Built
2026
Listing Agency:
REDT LLC
(303) 549-5054
Listed By:
Sammantha Drake
(303) 549-5054
Source:
Corken
Added: Jun 4
Changed: Aug 28
Last Checked: Aug 29 at 2:14PM
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 REDT LLC
Investment Insights
Based on property information with market context.
This duplex property is part of Thirty Eight West, a new-construction community comprising 25 residences. The development features contemporary architecture, functional floor plans, open-concept living areas, designer finishes, abundant natural light, and energy-efficient construction. The community is planned for anticipated deliveries beginning Summer-Fall 2026 and will be governed by a Party Wall Agreement.
Located in Denver, the property offers access to dining, shopping, parks, entertainment, Downtown Denver, major commuter routes, public transit, and outdoor recreation. The development is designed around low-maintenance homeownership, with management fees currently being finalized and subject to change.
Located in Denver, the property offers access to dining, shopping, parks, entertainment, Downtown Denver, major commuter routes, public transit, and outdoor recreation. The development is designed around low-maintenance homeownership, with management fees currently being finalized and subject to change.
Key Highlights
- Part of Thirty Eight West, a 25‑residence new‑construction community
- Anticipated deliveries beginning Summer‑Fall 2026
- Open‑concept living areas with contemporary architecture and designer finishes
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
$31,526
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
3.15%
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%
$630,520
$630.5K
Cap Rate 7%
$450,371
$450.4K
Cap Rate 9%
$350,289
$350.3K
Market Conditions
NOI Build-Up for 1,897 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
$47.8K $25.20/SF
− Vacancy
−$2.8K −$1.46/SF
EGI
$45.0K $23.74/SF
− OpEx
−$13.5K −$7.12/SF
NOI
$31.5K $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%
$630,520
Cap Rate 7%
$450,371
Cap Rate 9%
$350,289
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.4K
NOI $31,526 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$411.5K
$360.0K – $480.1K
NOI $28,803 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$603.9K
$528.4K – $704.5K
NOI $42,272 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,801
Businesses Nearby
Explore this area
Business Placement
Demographics for 80212, CO
20,397
Population
10,870
Households
1.9
Avg Household Size
38
Median Age
64%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
5,666
Density / Sq Mi
$118,692
Median Household Income
$76,379
Median Earnings
$1,714
Median Rent
$705,300
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 - Open-concept design, contemporary finishes, natural light, and energy-efficient construction define this low-maintenance property.
Where is this duplex located?
The property is located at 3838 N Perry St 6-601 Denver, CO.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Part of Thirty Eight West, a 25‑residence new‑construction community; Anticipated deliveries beginning Summer‑Fall 2026; Open‑concept living areas with contemporary architecture and designer finishes
