7700 Colfax AveDenver, CO 80220

Property Details for 7700 Colfax Ave

Year built

1955

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

1,853 SF

Zone code

E-MS-3

Property type

Turn key restaurants

APN

06042-04-023-000

APU

604204023000

Description

This exceptional investment opportunity presents a prime 1,853 square foot restaurant located at 7700 & 7740 E Colfax Ave, Denver, CO 80220. The property boasts a strong net lease structure with two tenants, currently operating at 100% occupancy, generating a substantial NOI of $51,585. The lease commenced February 28, 2014, and expires December 30, 2028, with a remaining term of approximately 4.1 years. The property features 21 parking spaces, a 0.28-acre lot, and benefits from a 7.00% cap rate. The asking price is $735,000, translating to $396.65 per square foot and $60.24 per square foot for land value. The building is zoned E-MS-3 and includes existing grease traps and hoods. Annual rent bumps of 4% are in place. A new roof is currently being installed (2024). The property enjoys high visibility due to its location with easy access to major highways, thoroughfares, and public transportation. Significant upside potential exists through renegotiating below-market billboard rents and future development opportunities. This is a rare chance to acquire a well-positioned, multi-tenant restaurant property in a thriving Denver location.

• CAP approach

  CAP return

  Valuation

  6%

  $511,267

  6.5%

  $471,938

  7%

  $438,228

• Comparable approach

  Method

  Valuation

  Relative Method

  $916,021

  Geo Method

  $385,799

• Alternative Use

  Use

  Valuation

  Residential

  $398,098

  Hospitality

  $364,655

  Educational

  $303,389

  Medical

  $313,823

  Retail

  $471,938

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7399

Longitude

-104.898

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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