1915 Colfax AveDenver, CO 80206

Property Details for 1915 Colfax Ave

Year built

1964

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

12,597 SF

Zone code

C-MS-5

Property type

Office properties

Property subtype

Office buildings

APN

02355-33-009-000

APU

235533009000

Description

This exceptional Denver commercial land parcel, located at 1915 & 1919 E Colfax Ave, presents a unique investment opportunity. The 21,670 square foot lot is zoned C-MS-5, allowing for a five-story development. Currently featuring two existing buildings – a two-story office/retail building and a separate retail/restaurant building – the property offers immediate income potential while redevelopment plans are underway. The site boasts a prime location at the northeast corner of High Street and Colfax Avenue, bordering the desirable Cheesman Park and City Park West neighborhoods. This high-traffic area provides excellent visibility and access to a plethora of nearby shopping and dining options. The existing leases include redevelopment clauses, allowing for flexibility in future development. The asking price is $3,500,000, translating to $161.51 per square foot. This presents a compelling chance to capitalize on the area's growth and create a high-density project, potentially including more affordable housing options. The property's size and zoning make it ideal for a variety of development scenarios. Don't miss this chance to acquire a significant piece of Denver real estate with substantial upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,009,736

  6.5%

  $2,778,218

  7%

  $2,579,774

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,307,820

  Geo Method

  $1,040,764

• Alternative Use

  Use

  Valuation

  Residential

  $3,444,990

  Hospitality

  $3,155,592

  Educational

  $2,625,416

  Medical

  $2,715,708

  Retail

  $4,083,980

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7404

Longitude

-104.964

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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