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    2344 Colfax Ave Denver, CO 80206

    For Sale
    $1,535,000

    Denver storefront, 100% occupied, high cap rate.

    Property size:
    2,440 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional investment opportunity presents a 2,440 square foot, multi-tenant retail storefront located at 2344 E. Colfax Avenue in Denver, Colorado. The property, built in 1968 and renovated in 2013, sits on a 9,711 square foot lot and boasts 13 parking spaces. Currently 100% occupied by Subway and Phone Repair and More, this building offers a strong 6.31% cap rate with an asking price of $1,535,000 ($629.10/sq ft). The property features two units under a NNN lease structure. Subway is executing a new 10-year lease at closing, while Phone Repair and More's lease extends to May 2028. The building is situated on a prominent corner of East Colfax and Josephine Street, two major Denver thoroughfares. Its prime location offers convenient access to East High School, City Park, Cherry Creek, and Downtown Denver. The area has seen significant population growth (27.26% since 2010, projected 9.61% growth in the next 5 years), making this a compelling long-term investment. The C-MS-8 zoning permits up to eight stories, presenting future redevelopment potential. This is a truly hands-off investment opportunity with strong existing tenants and significant upside.

    Property Features for 2344 Colfax Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,440 SF

    Building Details

    Year Built/Renovated
    1968/2013
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Excellent long‑term investment opportunity.
    • Prime location adjacent to East High School and Denver Community Center.
    • 8‑story zoning allows for significant future redevelopment potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Phone Repair and More ... Mobile Phone Repair Shop Top Cash For Phones ... Cell Phone Store Amazon Hub Counter ... Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.95902059351
    Latitude
    39.739866072372

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    FAQs

    What type of property is this?
    Individual retail property - Denver storefront, 100% occupied, high cap rate.
    Where is this individual retail property located?
    The property is located at 2344 Colfax Ave Denver, CO.
    What is the asking price?
    The asking price for this property is $1,535,000.
    What are key features of this property?
    This property features: Excellent long-term investment opportunity.; Prime location adjacent to East High School and Denver Community Center.; 8-story zoning allows for significant future redevelopment potential.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2344 Colfax Ave Denver, CO 80206
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