4930 Colfax AveDenver, CO 80204

Property Details for 4930 Colfax Ave

Year built

1931

Construction

WOOD

Lot size

0.43 AC

Property size (Sq ft)

3,274 SF

Zone code

U-MS-5

Property type

Retail properties

Property subtype

Bars

APN

05062-06-028-000

APU

506206028000

Description

This exceptional 3,325 sq ft retail property, located at 4930 W Colfax Ave in Denver, CO, presents a compelling value-add investment opportunity. Currently operating as a 100% occupied bar and restaurant, the property boasts a strong NOI of $141,600, with a pro-forma NOI projected at $200,000, reflecting a potential cap rate of 8.51%. Built in 1931 and renovated in 2002, this single-story building sits on a sizable lot (approximately 1,850-1,950 sq ft) and is zoned U-MS-5, allowing for significant redevelopment potential. The asking price is $2,350,000, translating to $706.77 per square foot. This prime location in the popular Sloan's Lake area, along the historic "Old Golden Road," offers high visibility and access to a thriving community. The U-MS-5 zoning permits the construction of a five-story building with ground-floor retail, catering to the increasing demand for multi-story commercial developments and double drive-through restaurants in this rapidly gentrifying area. This property presents a unique chance to capitalize on the significant growth and investment opportunities within Denver's Opportunity Zone. The property's current lease is an Absolute NNN, single-tenancy arrangement. The APN is 39-322-00-003.

• CAP approach

  CAP return

  Valuation

  6%

  $884,471

  6.5%

  $816,435

  7%

  $758,118

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,679,019

  Geo Method

  $681,655

• Alternative Use

  Use

  Valuation

  Residential

  $688,693

  Hospitality

  $630,839

  Educational

  $524,851

  Medical

  $542,901

  Retail

  $816,435

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.74

Longitude

-105.051

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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