Standalone Two-Story Office
For Sale
$1,295,000
520 Cherokee Street, Denver, CO 80204
Standalone two-story building with three office suites, multiple private entrances, and 17 on-site parking spaces near Denver Health.
Property Size5,441 SF
Lot Size0.16 Acres
Price / SF$238.01
Days on Market46
Property Features for 520 Cherokee Street
General Information
Standard status
Active
Size
5,441 SF
Total Parking Spaces
17
Lot size
0.16 Acres
Property subtype
Improved Land
Zoning
C-MX-8
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$24,949
Building Details
Stories
2
Listing Agency:
BLVD Real Estate Group, LLC
(720) 884-7359
Listed By:
Sunitha Alli
Source:
Eliselosassore
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 23 at 8:57AM
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 BLVD Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This standalone two-story office building is currently configured as three separate office suites. The layout includes multiple private entrances, reception and office areas, private rooms, restrooms, and 8 rooms across the building, along with 4 bathrooms and 17 on-site parking spaces.
The property sits adjacent to the Denver Health campus and is located near major central Denver corridors, including Broadway, Lincoln, 6th Avenue, Baker, and Speer. It is situated on a 7,000 SF lot and zoned C-MX-8 mixed-use, supporting flexible use possibilities.
A buyer may continue using the building as professional office space, lease the first-floor suites independently with their own separate entrances, or evaluate residential and live/work conversion options. Any residential or live/work conversion would be subject to buyer verification and required City approvals.
The property sits adjacent to the Denver Health campus and is located near major central Denver corridors, including Broadway, Lincoln, 6th Avenue, Baker, and Speer. It is situated on a 7,000 SF lot and zoned C-MX-8 mixed-use, supporting flexible use possibilities.
A buyer may continue using the building as professional office space, lease the first-floor suites independently with their own separate entrances, or evaluate residential and live/work conversion options. Any residential or live/work conversion would be subject to buyer verification and required City approvals.
Key Highlights
- Standalone two‑story building (1957) with approx. 5,441 SF above grade on a 7,000 SF lot
- Configured as three separate office suites with multiple private entrances for flexible use
- Includes 8 rooms and 4 bathrooms, with reception/office areas, private rooms, and restrooms
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
$79,722
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
6.16%
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%
$1,594,440
$1.6M
Cap Rate 7%
$1,138,886
$1.1M
Cap Rate 9%
$885,800
$885.8K
Market Conditions
NOI Build-Up for 5,441 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
$143.6K $26.40/SF
− Vacancy
−$37.3K −$6.86/SF
EGI
$106.3K $19.54/SF
− OpEx
−$26.6K −$4.88/SF
NOI
$79.7K $14.65/SF
Area
Denver, CO
Vacancy
26.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,594,440
Cap Rate 7%
$1,138,886
Cap Rate 9%
$885,800
Alternative Uses
Best Use
Office B
$1.14M
$996.5K – $1.33M
NOI $79,722 @ 7.0% cap · market cap 6.16%
Second Best
Mixed Use
$1.09M
$958.0K – $1.28M
NOI $76,636 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,245 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
6,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone two-story building with three office suites, multiple private entrances, and 17 on-site parking spaces near Denver Health.
Where is this office building located?
The property is located at 520 Cherokee Street Denver, CO.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Standalone two‑story building (1957) with approx. 5,441 SF above grade on a 7,000 SF lot; Configured as three separate office suites with multiple private entrances for flexible use; Includes 8 rooms and 4 bathrooms, with reception/office areas, private rooms, and restrooms
