New Duplex with Rooftop
For Sale
Contact for pricing
828 Cherry Street, Denver, CO 80220
Newly delivered duplex with two occupied units and rooftop decks, suited for income-focused buyers seeking turn-key housing.
Property Size3,520 SF
Price / SF$431.82
Days on Market64
Property Features for 828 Cherry Street
General Information
Standard status
Active
Size
3,520 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
2025
Listing Agency:
Resolute Inc
Listed By:
Jack Rohr · License #ER100067283
Source:
Crexi
Added: Jun 5
Changed: Jul 10
Last Checked: Aug 5 at 3:42PM
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 Resolute Inc
Investment Insights
Based on property information with market context.
Cherry Street Duplex is a newly constructed architecturally designed duplex offering two townhome-scale rental units within a single building. The property was delivered in December 2025 and is reported as fully occupied at closing. Unit layouts include an approximately 1,770 SF front unit and an approximately 1,750 SF rear unit, each finished with an open-concept living area, designer kitchen features including quartz countertops and integrated appliances, and spa-inspired bathrooms with freestanding soaking tubs. Wide-plank flooring is carried throughout. Select units also include private front and rear yards, supporting a more pet-friendly living experience. Standout exterior amenities include individual rooftop decks for each unit.
The asset is located at 828 Cherry Street in Denver, in an infill neighborhood context described as supply-constrained in the offering materials. The building’s configuration as a single duplex simplifies ownership and management versus larger multi-building properties.
For buyers seeking a stabilized, low-maintenance starting point, the property is positioned as an income-producing asset with zero deferred maintenance and builder warranties referenced in the remarks. With two sizable, separately finished units and outdoor living spaces that include rooftop decks (and yards on select units), the duplex can support tenant appeal through flexible layout options while maintaining a straightforward two-unit structure.
The asset is located at 828 Cherry Street in Denver, in an infill neighborhood context described as supply-constrained in the offering materials. The building’s configuration as a single duplex simplifies ownership and management versus larger multi-building properties.
For buyers seeking a stabilized, low-maintenance starting point, the property is positioned as an income-producing asset with zero deferred maintenance and builder warranties referenced in the remarks. With two sizable, separately finished units and outdoor living spaces that include rooftop decks (and yards on select units), the duplex can support tenant appeal through flexible layout options while maintaining a straightforward two-unit structure.
Key Highlights
- Newly built duplex at 828 Cherry Street, Denver, CO 80220, delivered December 2025 and 100% occupied at closing
- Two income‑producing units: front unit 1,770 SF and rear unit 1,750 SF (townhome‑scale living)
- Class A finishes including open‑concept living areas, designer kitchens with quartz countertops and integrated appliances, and spa‑inspired bathrooms
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
$58,498
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
3.85%
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%
$1,169,960
$1.2M
Cap Rate 7%
$835,686
$835.7K
Cap Rate 9%
$649,978
$650.0K
Market Conditions
NOI Build-Up for 3,520 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
$88.7K $25.20/SF
− Vacancy
−$5.1K −$1.46/SF
EGI
$83.6K $23.74/SF
− OpEx
−$25.1K −$7.12/SF
NOI
$58.5K $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%
$1,169,960
Cap Rate 7%
$835,686
Cap Rate 9%
$649,978
Alternative Uses
Best Use
Multifamily LT 5
$835.7K
$731.2K – $975.0K
NOI $58,498 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$763.5K
$668.1K – $890.8K
NOI $53,446 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.12M
$980.5K – $1.31M
NOI $78,438 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 80220, CO
37,233
Population
17,675
Households
2.1
Avg Household Size
37
Median Age
66%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
7,160
Density / Sq Mi
$101,961
Median Household Income
$61,568
Median Earnings
$1,621
Median Rent
$739,600
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 - Newly delivered duplex with two occupied units and rooftop decks, suited for income-focused buyers seeking turn-key housing.
Where is this duplex located?
The property is located at 828 Cherry Street Denver, CO.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Newly built duplex at 828 Cherry Street, Denver, CO 80220, delivered December 2025 and 100% occupied at closing; Two income‑producing units: front unit 1,770 SF and rear unit 1,750 SF (townhome‑scale living); Class A finishes including open‑concept living areas, designer kitchens with quartz countertops and integrated appliances, and spa‑inspired bathrooms
