7401 1St AveDenver, CO 80230

  • Retail properties
  • 13,549 SF
For Sale
$4,800,000 View listing

Property Details for 7401 1St Ave

Year built
2006
Construction
WOOD
Lot size
1.43 AC
Property size (Sq ft)
13,549 SF
Zone code
B-3
Property type
Retail properties
Property subtype
Turn key restaurants
APN
06092-01-003-000
APU
609201003000

Description

This exceptional 13,215-square-foot restaurant property, located at 7401 E 1st Avenue in Denver, Colorado's Lowry neighborhood (zip code 80230), is available for $4,800,000. Built in 2006, this single-building property sits on a substantial 62,074-square-foot lot and is zoned B-3. The property boasts a prime location within the vibrant Lowry community, a mixed-use area offering a high quality of life with easy access to Denver's cultural attractions. Previously home to the Tavern Lowry and Soiled Dove Music Venue, this location comes with a transferrable cabaret license, a significant advantage for any establishment offering live entertainment and alcohol sales. The property is currently vacant, presenting a unique opportunity for a new restaurant or venue concept. Strong area demographics support this venture, with over 336,000 daytime employees and approximately $1.2 billion in consumer spending within a two-mile radius. Fixtures, furniture, and equipment (FF&E) are available for separate purchase. This is a rare chance to acquire a well-situated, established property in a thriving Denver neighborhood. The price per square foot is $363.22.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,738,344
    6.5%
    $3,450,779
    7%
    $3,204,294
  • Comparable approach

    Method
    Valuation
    Relative Method
    $6,697,878
    Geo Method
    $2,820,934
  • Alternative Use

    Use
    Valuation
    Residential
    $2,910,861
    Hospitality
    $2,666,333
    Educational
    $2,218,358
    Medical
    $2,294,650
    Retail
    $3,450,779
7401 1St Ave, Denver, Colorado

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.719
Longitude
-104.901
CBSA code
19740
CBSA name
DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$64,670
$684,390
$150,210
$834,600
-
$2,483,000
$538,400
$3,021,400

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