840 Tabor St Lakewood, CO 80401-4700
- Turn key restaurants
- 3,097 SF
- 0.69 lot acres
Nov 01, 2021
Current Use by Public Records
- Turn key restaurants
Property Details for 840 Tabor St
- Year built
- 2004
- Construction
- STEEL FRAME
- Lot size
- 0.69 lot acres
- Property size
- 3,097 SF
- Property type
- Turn key restaurants
- APN
- 49-054-01-063
- APU
- 4905401063
Description
This exceptional turnkey restaurant opportunity is located at 840 Tabor Street in Lakewood, Colorado, 80401. The 3,097 square foot property, built in 2004 and fully renovated in 2023, boasts a prime location with high traffic counts (33,689 vehicles per day on nearby Simms and 6th Ave) and strong demographics (average household income exceeding $100,500 within a 5-mile radius). The single-unit restaurant operates under a 10-year lease and currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $168,000 and an 8.51% cap rate. The asking price is $1,975,000 ($637.71 per square foot). The property is zoned M-G-S and benefits from a significant concentration of potential customers, including over 543 multifamily units and 433 hotel rooms within a half-mile radius. The restaurant features a full bar and a casual, family-friendly atmosphere, specializing in wood-fired pizza and barbecue. Its handcrafted Italian oven and outdoor patio contribute to its unique appeal and strong market position. This is a rare opportunity to acquire a well-established, high-performing restaurant with significant growth potential in a desirable location. The business is poised for continued success given its strong brand recognition, loyal customer base, and prime location within a thriving community.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,355,000
- ML approach
- $1,415,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,518,000
Market price range: $711k - $2.13M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,375,000 Current use
- AUTO REPAIR, GARAGE
- $1,600,000 Change: +16% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,430,000 Change: +4% Conversion: Difficult
- OFFICE BUILDING
- $1,265,000 Change: -8% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.129
- Latitude
- 39.731
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
