8400 E Colfax Ave, Denver, CO 80220

Building Details

Year Built

1953

Listing office Hoff & Leigh Show Phone

Listing date Feb 6, 2023

Source Crexi

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All listing content including descriptions, pricing, images are the copyrighted material of Hoff & Leigh

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Overview

This property presents an opportunity on East Colfax. Currently operating as a 25-unit multifamily property utilized for artist housing, it sits on nearly a half acre. The location offers potential for continued use as multifamily, conversion back to a motel, or redevelopment. The property is situated on a visible corner. The current Net Operating Income (NOI) is $202,850.61, with a proforma NOI of $227,150.61. The current capitalization rate is 7.3%, and the proforma capitalization rate is 8.17%. The property size is 8,421 square feet.

Suggested Use

Real Estate Agency HVAC Service Pharmacy Parking Lot & Garage Building Supply Electrical Service Accounting Firm (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Denver

County

Arapahoe

State

Colorado

Longitude

-104.8902443

Latitude

39.7398017

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FAQs

What type of property is this?

Apartment building - 25-unit multifamily property on East Colfax, redevelopment potential.

Where is this apartment building located?

The property is located at 8400 E Colfax Ave Denver, CO.

What is the asking price?

The asking price for this property is $2,780,000.

What are key features of this property?

This property features: High visibility corner location on E Colfax.; Currently operating as a 25‑unit multifamily property with existing income.; **Significant income potential with a current NOI of $202,850.61 and a proforma NOI of $227,150.61.**