Corner Commercial Land
For Sale
$2,800,000
536-520 Cherokee Street, Denver, CO 80204
Two contiguous C-MX-8 parcels offer mixed-use redevelopment flexibility.
Property Size14,062 SF
Price / SF$199.12
Days on Market234
Property Features for 536-520 Cherokee Street
General Information
Standard status
Active
Size
14,062 SF
Property subtype
Land / Improved Land
Taxes and HOA fees
Annual Taxes
$40,000
Amenities
https://youtu.be/DB9m7WTbAy8
Listing Agency:
BLVD Real Estate Group, LLC
(720) 219-1693
Listed By:
Sunitha Alli · License #100109094
(720) 219-1693
Source:
Compass
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 8:16AM
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 commercial land offering includes two contiguous parcels totaling 14,062 square feet, or approximately 0.32 acres, with a corner-lot configuration. The property is zoned C-MX-8, supporting development up to eight stories and potential mixed-use applications that include multifamily, medical office, hospitality, and institutional-support uses.
Located at 520 and 536 Cherokee Street, the site is directly adjacent to the Denver Health main campus and near the Lincoln/Golden Triangle area. The property also sits within the influence area of the proposed Burnham Yard redevelopment and Denver Broncos Stadium District. Walk Score is 93, and both parcels are within Denver 1 school districts.
Located at 520 and 536 Cherokee Street, the site is directly adjacent to the Denver Health main campus and near the Lincoln/Golden Triangle area. The property also sits within the influence area of the proposed Burnham Yard redevelopment and Denver Broncos Stadium District. Walk Score is 93, and both parcels are within Denver 1 school districts.
Key Highlights
- Two contiguous C‑MX‑8 parcels totaling 14,062 square feet
- Approximately 0.32 acres with a corner‑lot configuration
- C‑MX‑8 zoning supports development up to 8 stories
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
$192,493
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
6.87%
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%
$3,849,860
$3.8M
Cap Rate 7%
$2,749,900
$2.7M
Cap Rate 9%
$2,138,811
$2.1M
Market Conditions
NOI Build-Up for 14,062 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
$288.6K $20.52/SF
− Vacancy
−$13.6K −$0.96/SF
EGI
$275.0K $19.56/SF
− OpEx
−$82.5K −$5.87/SF
NOI
$192.5K $13.69/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /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%
$3,849,860
Cap Rate 7%
$2,749,900
Cap Rate 9%
$2,138,811
Alternative Uses
Best Use
Retail
$2.75M
$2.41M – $3.21M
NOI $192,493 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.48M
$3.92M – $5.22M
NOI $313,351 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,040
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 30%
Apparel 5%
Hotels & Casinos 3%
Punch Bowl Social
Dining
21,446 visits/mo
0.5 miles
Wendy's
Dining
16,634 visits/mo
0.4 miles
Sinclair
Shops & Services
10,475 visits/mo
0.4 miles
Santiago's
Dining
10,185 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,759 visits/mo
0.3 miles
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 Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two contiguous C-MX-8 parcels offer mixed-use redevelopment flexibility.
Where is this commercial land located?
The property is located at 536-520 Cherokee Street Denver, CO.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two contiguous C‑MX‑8 parcels totaling 14,062 square feet; Approximately 0.32 acres with a corner‑lot configuration; C‑MX‑8 zoning supports development up to 8 stories
