2344 Colfax Ave Denver, CO 80206-1403

2,440 SF 0.22 ac lot Built 1968

Entity Owned ~ Est. High Equity

Property ID

US13-2762379

Google Maps

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 type Retail space

Use group RETAIL STORES (PERSONAL SERVICES)

Year built 1968

Construction WOOD

Total area 2,440 SF

Lot 0.22 ac (9,711 SF)

Zoning code C-MS-8

APN 05012-09-025-000

UPID US13-2762379

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Implied cap rate, NOI & suggested price

Cap vs submarket · NOI estimate · 3 price anchors

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