1755 Broadway Denver, CO 80210
- Retail space
- 7,192 SF
- 0.22 lot acres
Current Use by Public Records
- Golden Meds / Cannabis Store
Property Details for 1755 Broadway
- Year built
- 1961
- Construction
- STEEL FRAME
- Lot size
- 0.22 lot acres
- Property size
- 7,192 SF
- Zone code
- U-MS-5
- Property type
- Retail space
- APN
- 05226-10-030-000
- APU
- 522610030000
Description
This exceptional mixed-use property at 1755 South Broadway, Denver, CO 80210, presents a compelling investment opportunity. Boasting a 7.01% cap rate and a strong NOI of $195,646, this stabilized asset offers significant potential. The 7,192 square foot building, constructed in 1961 and extensively renovated in 2022, comprises two buildings with two stories each, situated on a 9,373 square foot lot. The property includes 13 tenants across 11 apartment units and 2 retail spaces, currently enjoying 100% occupancy. Nine of the apartment units underwent a complete renovation in Summer 2022, featuring new hot water heaters, flooring, electrical, plumbing, paint, kitchens, and appliances. A new storefront is planned for installation in 2024, further enhancing the property's value. The property also benefits from 12 parking spaces and the recent addition of a coin laundry, generating approximately $200 per month in supplemental income (not included in the NOI). The property is zoned U-MS-5 and allows for rent bumps. This high-visibility location on South Broadway within the rapidly developing Denver MSA makes this a truly remarkable investment prospect.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,490,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,275,000
- 6.5%
- $1,540,000
- 7%
- $1,520,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,260,000
- Geo Method
- $1,285,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,375,000
- Retail
- $1,285,000
- Mixed-Use
- $1,385,000
- Hospitality
- $1,210,000
- Educational
- $1,300,000
- Residential Income
- $1,295,000
- Energy
- $1,325,000
- Income-Based Land
- $1,505,000
- Food Service
- $1,505,000
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.988
- Latitude
- 39.6846
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA