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Property profile & analytics
OFF-MARKET
Estimated value
$40,235,000
Assisted living facilities
2440 Wabash St Denver, CO 80231-3808
Entity Owned
3-yr Hold
Free & Clear
Property ID
US13-2289846
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2019
Construction
FRAME
Total area
84,072 SF
Lot
2.3 ac (100,188 SF)
APN
1973-28-4-34-001
UPID
US13-2289846
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Modena Cherry Creek Nursing Home Retirement Community
-
Solera Senior Living Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$40.24M
Owner & transaction history
Shi IV Cherry Creek Owner LLC · 3 yrs held
Shi IV Cherry Creek Owner LLC
since 2022
Last sale
$41.2M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$34.4M
+78.2%
Auto repair, garage
$33.7M
+74.5%
Neighborhood: shopping center
$27.3M
+41.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Denver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Denver submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$38,405,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$34,385,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$33,675,000
Change: +74% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$27,285,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$27,210,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$27,040,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$26,135,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$25,530,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$40.24M
Range $36.21M – $44.26M · ±10% · vs last sale $41.15M (Nov 15 2022)
Last sale anchor
$41.15M
Nov 15 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$479 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$132,699
Tax year 2023
Assessed value
$1,657,425
Assessed 2023
Previous assessed
$1,618,400
+2.4% YoY
Effective rate
8.01%
On assessed value
Land market value
$9,800,000
Improvement market value
$14,700,000
Total market value
$24,500,000
Applied tax rate
1,903.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2019
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Bathrooms
96
Total area
84,072 SF
Lot
2.3 ac (100,188 SF)
APN
1973-28-4-34-001
UPID
US13-2289846
Jurisdiction
ARAPAHOE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$34.4M
AUTO REPAIR, GARAGE
Est. value
$33.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$27.3M
COMMERCIAL (GENERAL)
Est. value
$27.2M
RETAIL STORES
Est. value
$27.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$26.1M
MEDICAL BUILDING
Est. value
$25.5M
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Bathrooms
96
Lot
2.3 ac
Current owner
From public records · entity-resolved
Shi IV Cherry Creek Owner LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2 SEAPORT LN, BOSTON, MA 02210-2001
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2026
—
Shi-iv Cherry Creek Owner LLC
—
Deed
related
$25,700,000 · Texas Capital Bank
Nov 15, 2022
$41,150,000
Shi IV Cherry Creek Owner LLC
Wabash Owner LLC
Special Warranty Deed
—
Aug 2, 2018
—
Wabash Owner LLC
—
Grant Deed
related
$16,450,000 · Wells Fargo Bk
Nov 1, 2005
$575,000
Denver Campus Of Jewish Education
Mceniry,matthew S
Grant Deed
$575,000 · Guaranty Bk
Feb 23, 2005
—
Mceniry,sean
—
Trustees Deed
related
$130,000 · First American St Bk
—
—
Mceniry,matthew S
—
Deed Of Trust
related
$480,791 · First American St Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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