450 17Th Ave Denver, CO 80203
- Retail properties
- 10,732 SF
Current Use by Public Records
- Orangetheory Fitness / Physical Fitness Program / Gym
- S.B. Clark Companies / Consultant / Financial Consultant
- Timmins & Associates Llc / Employment Attorney / Labor Relations Attorney
- Oxford Exploration / Oil & Natural Gas Company
- denverlng / Oil & Natural Gas Company / Gas Company
Property Details for 450 17Th Ave
- Year built
- 2006
- Property size
- 10,732 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 10,732 square foot, multi-tenant retail condo in Denver's vibrant Uptown neighborhood. Located at 450 E 17th Ave, this Class A property boasts 100% occupancy with three established tenants: Orangetheory Fitness, Rumours Karaoke Cafe, and Toasts n Roasts. All tenants operate under triple net (NNN) leases, providing a stable income stream with a weighted average lease term of 8.4 years. The property features 33 deeded parking spaces, including 12 subsurface and 21 in an adjacent lot. Built in 2006, this single-story building requires minimal deferred maintenance. The property benefits from its prime location in a densely populated and affluent area, with over 9,350 multifamily units within half a mile and another 510 under construction. The strong demographics, service-based tenants, and ongoing development in the area contribute to a compelling investment profile. The property's NOI is $298,570, resulting in a 6.74% cap rate, and the asking price is $4,430,000. The permitted zoning is C-MX-8. This is a rare opportunity to acquire a stabilized, high-performing retail asset in a rapidly growing Denver submarket.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.981
- Latitude
- 39.7433
