For Sale
$4,430,000

450 17Th AveDenver, CO 80203

Uptown Denver: Multi-Tenant Retail

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 10,732 square foot, multi-tenant retail condo in Denver's vibrant Uptown neighborhood. Located at 450 E 17th Ave, this Class A property boasts 100% occupancy with three established tenants: Orangetheory Fitness, Rumours Karaoke Cafe, and Toasts n Roasts. All tenants operate under triple net (NNN) leases, providing a stable income stream with a weighted average lease term of 8.4 years. The property features 33 deeded parking spaces, including 12 subsurface and 21 in an adjacent lot. Built in 2006, this single-story building requires minimal deferred maintenance. The property benefits from its prime location in a densely populated and affluent area, with over 9,350 multifamily units within half a mile and another 510 under construction. The strong demographics, service-based tenants, and ongoing development in the area contribute to a compelling investment profile. The property's NOI is $298,570, resulting in a 6.74% cap rate, and the asking price is $4,430,000. The permitted zoning is C-MX-8. This is a rare opportunity to acquire a stabilized, high-performing retail asset in a rapidly growing Denver submarket.

Highlights

  • 100% occupancy with triple-net leases.
  • 8.4-year weighted average lease term.
  • Recent lease extensions demonstrate tenant commitment.
  • Rent increases protect against inflation.
  • 33 deeded parking spaces.
  • Strong demographics: 240,406 residents within 3 miles, $108,779 average annual household income.

Property Details for 450 17Th Ave

Property type
Retail properties, Retail space
Square Feet
10,732 SF
Class
A
Year Built
2006
Buildings
1
Stories
1
Units
4

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.74327044
Longitude
-104.98109517
450 17Th Ave, Denver, Colorado

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450 17Th Ave
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