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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Individual retail properties
500 Cherry St Denver, CO 80246-1304
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US13-2160191
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
60,007 SF
Lot
4.8 ac (209,088 SF)
Zoning code
PUD
APN
1973-18-2-04-018
UPID
US13-2160191
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
-
LifeSpa Cherry Creek Spa & Massage Center Gym & Fitness Center
-
Cherry Creek Sporting (Bike/Boat/Book/etc) Store
-
Professional Rugby Agency Consultant
-
Life Time Gym & Fitness Center
-
Pilates Defined Studio Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.36M
Owner & transaction history
Ltf R & E Co INC 2902 Corp Place · 6 yrs held
Ltf R & E Co INC 2902 Corp Place
since 2019
4 recorded transactions
Zoning & alternative use
PUD · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$1,465,000
Current use
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10%
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
$23 / 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
$249,746
Tax year 2023
Assessed value
$2,951,541
Assessed 2023
Previous assessed
$3,067,910
-3.8% YoY
Effective rate
8.46%
On assessed value
Land market value
$5,226,050
Improvement market value
$5,352,950
Total market value
$10,579,000
Applied tax rate
665.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
16
Total area
60,007 SF
Lot
4.8 ac (209,088 SF)
Zoning code
PUD
APN
1973-18-2-04-018
UPID
US13-2160191
Jurisdiction
ARAPAHOE
Zoning & alternative use
PUD · Denver, CO
Zoning PUD · permitted uses
PUD · Denver, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Denver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$1.5M
GYM, HEALTH SPA Current
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
16
Lot
4.8 ac
Current owner
From public records · entity-resolved
Ltf R & E Co INC 2902 Corp Place
Entity
Mailing address
2902 CORPORATE PL, CHANHASSEN, MN 55317-4560
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2019
$30,000,000
Ltf R & E Co INC 2902 Corp Place
Cherry Street-ccsc LLC
Grant Deed
—
Jul 12, 2005
—
Cherry Street-ccsc LLC
Millice Group Holdings LLC
Quit Claim Deed
$10,000 · Keybank USA
Nov 23, 2004
—
Millice Group Holdings LLC
Cherry Street-ccsc LLC
Grant Deed
related
—
—
—
Cherry Street-ccsc LLC
—
Deed Of Trust
related
$9,000,000 · Miscellaneous Ins Co
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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