Corner Retail-Office
For Sale
Contact for pricing
8389 Cherokee St, Denver, CO 80260
Remodeled corner building with multi-office layout, ADA restrooms, and nine on-site parking spaces on C-1 zoned land.
Property Size3,100 SF
Price / SF$300
Days on Market153
Property Features for 8389 Cherokee St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Office, Retail
Zoning
C-1 (Adams County)
Listing Agency:
Summit Commercial Brokers
Listed By:
Kyle Conarro · License #CO 100098695
(303) 827-9436
Source:
Crexi
Added: Apr 6
Changed: Aug 21
Last Checked: Sep 5 at 1:46AM
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 Summit Commercial Brokers
Investment Insights
Based on property information with market context.
This corner commercial building offers a functional multi-office configuration with a main-level reception area and conference room, plus seven private suites. The lower level includes three large offices, a break room, and an IT room. Two ADA-compliant restrooms support day-to-day operations, and the property was recently remodeled in 2023 and is positioned for move-in readiness.
Located at the intersection of 84th Ave and Cherokee St, the property features prominent frontage along 84th Ave for strong visibility and convenient access from multiple directions. The site sits on a 0.18-acre lot and is zoned C-1 (Adams County), supporting a range of retail, office, and service uses.
The building includes nine on-site parking spaces and currently has two suites leased on a month-to-month basis for in-place income. The remaining space can accommodate owner-user occupancy or additional tenant leasing within the established suite and office layout.
Located at the intersection of 84th Ave and Cherokee St, the property features prominent frontage along 84th Ave for strong visibility and convenient access from multiple directions. The site sits on a 0.18-acre lot and is zoned C-1 (Adams County), supporting a range of retail, office, and service uses.
The building includes nine on-site parking spaces and currently has two suites leased on a month-to-month basis for in-place income. The remaining space can accommodate owner-user occupancy or additional tenant leasing within the established suite and office layout.
Key Highlights
- High‑visibility corner location on 84th Ave & Cherokee St with prominent 84th Ave frontage
- 3,100 SF building on a 0.18‑acre lot, zoned C‑1 (Adams County) for retail, office, and service uses
- Recently remodeled in 2023 and move‑in ready with a functional multi‑office layout
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
$45,421
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
4.88%
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%
$908,420
$908.4K
Cap Rate 7%
$648,871
$648.9K
Cap Rate 9%
$504,678
$504.7K
Market Conditions
NOI Build-Up for 3,100 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
$81.8K $26.40/SF
− Vacancy
−$21.3K −$6.86/SF
EGI
$60.6K $19.54/SF
− OpEx
−$15.1K −$4.88/SF
NOI
$45.4K $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%
$908,420
Cap Rate 7%
$648,871
Cap Rate 9%
$504,678
Alternative Uses
Best Use
Office B
$648.9K
$567.8K – $757.0K
NOI $45,421 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$986.8K
$863.5K – $1.15M
NOI $69,079 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 80260, CO
36,691
Population
12,841
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
4.8 sq mi
ZIP Area
7,644
Density / Sq Mi
$62,929
Median Household Income
$38,674
Median Earnings
$1,532
Median Rent
$188,200
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 units - Remodeled corner building with multi-office layout, ADA restrooms, and nine on-site parking spaces on C-1 zoned land.
Where is this office units located?
The property is located at 8389 Cherokee St Denver, CO.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: High‑visibility corner location on 84th Ave & Cherokee St with prominent 84th Ave frontage; 3,100 SF building on a 0.18‑acre lot, zoned C‑1 (Adams County) for retail, office, and service uses; Recently remodeled in 2023 and move‑in ready with a functional multi‑office layout
