606 Colfax Ave Denver, CO 80204
- Banks
- 0.31 lot acres
Current Use by Public Records
- Bank of Denver / Bank / Financial Institution
Property Details for 606 Colfax Ave
- Year built
- 1983
- Construction
- WOOD
- Lot size
- 0.31 lot acres
- Zone code
- GTR
- Property type
- Banks
- APN
- 05034-03-037-000
- APU
- 503403037000
Description
This exceptional 13,485 square foot commercial land parcel, located at 606 W Colfax Avenue in Denver, Colorado's vibrant Golden Triangle neighborhood, presents a compelling redevelopment opportunity. Currently zoned D-GT, this site allows for a diverse range of development options, including a mixed-use structure up to 66 feet tall, subject to the State Capitol view plane. The property boasts a highly desirable location, situated near Denver's central business district, with easy access to numerous hotels, restaurants, retail establishments, and government facilities. The high daily traffic count on West Colfax Avenue (38,761 cars per day) provides exceptional visibility and accessibility. The existing 1,226 square foot, single-story building, formerly occupied by a bank, features two drive-thru bays and could be repurposed or demolished to accommodate a new development. This site is ideal for a high-density mixed-use project or a drive-thru retail establishment. The seller is open to considering build-to-suit options for retail redevelopment. The asking price for this remarkable property is $2,200,000. The property was built in 1981 and sits on a 13,485 square foot lot in the 80204 zip code. The seller may consider owner financing. This is a rare chance to acquire a prime piece of real estate in a rapidly growing area of Denver.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $395,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $480,000
- 6.5%
- $515,000
- 7%
- $525,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $475,000
- Geo Method
- $530,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $535,000
- Retail
- $475,000
- Mixed-Use
- $445,000
- Hospitality
- $540,000
- Educational
- $570,000
- Residential Income
- $525,000
- Energy
- $510,000
- Income-Based Land
- $515,000
- Food Service
- $540,000
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.996
- Latitude
- 39.7397
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
