2901 Larimer St Denver, CO 80205
- Retail properties
- 10,766 SF
- 0.29 lot acres
Current Use by Public Records
- Federales Denver / Mexican Restaurant / Bar
Property Details for 2901 Larimer St
- Year built
- 2021
- Lot size
- 0.29 lot acres
- Property size
- 10,766 SF
- Property type
- Retail properties
- Property subtype
- Bars
Description
This exceptional investment opportunity presents a single-tenant, 10,766 square foot restaurant located in Denver's vibrant RiNo neighborhood. The property, built in 2021, boasts a strong 100% occupancy rate with Federales as the tenant under a Net Lease (NNN) agreement. The lease commenced August 10, 2021, and has a remaining term of approximately 13.8 years, extending to August 30, 2038, with two five-year options. Rent increases are structured with a 10% bump every five years of the initial term and a 2% annual increase during each option period. The property features a desirable location on Larimer Street, encompassing 0.287 acres and operating under the permitted zoning of Underlying I-MX-3, Industrial Mixed-Use with overlay DO-7, River North. The asking price is $6,667,000, representing a price per square foot of $619.26 and a 6.00% cap rate, with a current Net Operating Income (NOI) of $400,000. This is a rare opportunity to acquire a high-performing, long-term net lease asset in a rapidly growing Denver market. The property's address is 2901 Larimer St, Denver, CO 80205. APN: 02275-13-051-000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.982
- Latitude
- 39.7617
