Duplex with Finished Lower
New
For Sale
$1,600,000
78 S Monroe St, Denver, CO 80209
A remodeled kitchen, private patio and attached garage add practical features to the property.
Property Size3,846 SF
Days on Market4
Property Features for 78 S Monroe St
General Information
Standard status
Active
Size
3,846 SF
Total Parking Spaces
2
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,420
Amenities
hardwood floors
crown molding
remodeled kitchen
fireplace
private patio
spa-inspired 5-piece bath
soaking tub
glass shower
dual vanities
radiant heated floors
private balcony
dedicated laundry room
recreation area
media room
wet bar
400-bottle wine room
EV charging
Building Details
Building Size
3,846 SF
Year Built
2003
Listing Agency:
Kentwood Real Estate Cherry Creek
Listed By:
Gregory Yoshida · License #100006819
(303) 875-4879
Source:
Guidere
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:27PM
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 Kentwood Real Estate Cherry Creek
Investment Insights
Based on property information with market context.
This 2003 duplex includes a finished lower level with recreation and media areas, a guest bedroom, a three-quarter bath, wet bar and climate-controlled 400-bottle wine room. The main living areas feature hardwood floors, crown molding and formal living and dining rooms. A remodeled kitchen has a quartz island, KitchenAid appliances, an induction cooktop and convection and microwave ovens. Upstairs, the primary suite includes a five-piece bath, two walk-in closets and radiant heated floors; two additional bedrooms and a dedicated laundry room complete the level. The home also has a private patio, attached two-car garage with EV charging, Class 4 roof and two independent heating and cooling systems.
The property is in Cherry Creek, near dining, boutiques, Cherry Creek Shopping Center and Cherry Creek Trail.
The property is in Cherry Creek, near dining, boutiques, Cherry Creek Shopping Center and Cherry Creek Trail.
Key Highlights
- Finished lower level with recreation area, media room, guest bedroom, 3/4 bath and wet bar
- Climate‑controlled wine room with 400‑bottle capacity
- Remodeled kitchen with quartz island and KitchenAid appliances
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
$63,915
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
3.99%
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%
$1,278,300
$1.3M
Cap Rate 7%
$913,071
$913.1K
Cap Rate 9%
$710,167
$710.2K
Market Conditions
NOI Build-Up for 3,846 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
$96.9K $25.20/SF
− Vacancy
−$5.6K −$1.46/SF
EGI
$91.3K $23.74/SF
− OpEx
−$27.4K −$7.12/SF
NOI
$63.9K $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%
$1,278,300
Cap Rate 7%
$913,071
Cap Rate 9%
$710,167
Alternative Uses
Best Use
Multifamily LT 5
$913.1K
$798.9K – $1.07M
NOI $63,915 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$834.2K
$730.0K – $973.3K
NOI $58,396 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,702 @ 7.0% cap · market cap 5.36%
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
5,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 80209, CO
27,061
Population
16,045
Households
1.7
Avg Household Size
38
Median Age
80%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
7,732
Density / Sq Mi
$118,759
Median Household Income
$81,604
Median Earnings
$1,981
Median Rent
$971,500
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 - A remodeled kitchen, private patio and attached garage add practical features to the property.
Where is this duplex located?
The property is located at 78 S Monroe St Denver, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Finished lower level with recreation area, media room, guest bedroom, 3/4 bath and wet bar; Climate‑controlled wine room with 400‑bottle capacity; Remodeled kitchen with quartz island and KitchenAid appliances
