For Sale
$1,535,000

2344 Colfax AveDenver, CO 80206

Denver storefront, 100% occupied, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 2,440 square foot, multi-tenant retail storefront located at 2344 E. Colfax Avenue in Denver, Colorado. The property, built in 1968 and renovated in 2013, sits on a 9,711 square foot lot and boasts 13 parking spaces. Currently 100% occupied by Subway and Phone Repair and More, this building offers a strong 6.31% cap rate with an asking price of $1,535,000 ($629.10/sq ft). The property features two units under a NNN lease structure. Subway is executing a new 10-year lease at closing, while Phone Repair and More's lease extends to May 2028. The building is situated on a prominent corner of East Colfax and Josephine Street, two major Denver thoroughfares. Its prime location offers convenient access to East High School, City Park, Cherry Creek, and Downtown Denver. The area has seen significant population growth (27.26% since 2010, projected 9.61% growth in the next 5 years), making this a compelling long-term investment. The C-MS-8 zoning permits up to eight stories, presenting future redevelopment potential. This is a truly hands-off investment opportunity with strong existing tenants and significant upside.

Highlights

  • Excellent long-term investment opportunity.
  • Prime location adjacent to East High School and Denver Community Center.
  • 8-story zoning allows for significant future redevelopment potential.

Property Details for 2344 Colfax Ave

Property type
Retail properties, Retail space
Square Feet
2,440 SF
Year Built/Renovated
1968/2013
Buildings
1
Stories
1
Units
2

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.739866072372
Longitude
-104.95902059351
2344 Colfax Ave, Denver, Colorado

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2344 Colfax Ave
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