650 E 64th Ave & 6331-6341 Washington St, Denver, CO 80216

Description

The property consists currently of 4 buildings anchored by a 7-11 located at the SW corner of 64th and Washington Street. The plan is to keep the 7-11 retail building, while demolishing two of the remaining three buildings. The remaining building, occupied by the Y-Knot Bar has a lease expiring in July 2019. In the interim, ownership plans to lease the vacant land temporarily as a contractor yard. Once the Y-Knot Bar lease expires, ownership plans to demolish the Y-Knot building and redevelop the land into an in-line retail center. Approximately 1.5 million square feet of Class A industrial space has been recently built in this area located within ? mile of the intersection of 64th and Washington. Therefore, this trade area is currently under-served in the retail sector because of these new developments.

Details

Cost PSF
$233.33
Status
Active
Total Cost
$1,400,000
Acquisition Date
Aug, 2017
Acquisition Price
$1,300,000
Market Value PSF
$250.00
Total Project Size
6,000
Add. Capital Costs
$100,000
Current Value
$1,500,000