UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1981393
Style Traditional
HOA Y/N No
Year Built 1900
Lot Size 8,798 Sqft
Acres 0.2
Property Sub-Type Retail
Property Description
Cash flow today. Redevelopment upside tomorrow.
In the heart of Denver's Art District on Santa Fe, this legacy art gallery gives investors and developers two ways to win: collect income now, or build up to five stories.
Immediate income upside:
· All 30 studio spaces are on month-to-month terms
· Rents average roughly $300 per month below market
· No long-term leases to wait out, so a new owner can move rents to market right away
· No capital improvements required to capture the upside (potential pro forma)
Redevelopment potential:
· Zoning allows for a five-story building, ideal for apartments, condos, or mixed use
· First-floor retail could be converted to retail condos or leased at market rates
· Just blocks from the Denver Broncos Stadium redevelopment
· High-demand area in one of Denver's most vibrant creative districts
Property features:
· Studio space with a retail storefront, currently leased as a showroom and artist studios
· 10 parking spaces in the back
· Basement with ramp access
· Recently updated fire escape that meets all code requirements
Whether you're after a cash-flowing asset or a ground-up development play, this one is hard to find and easy to picture.
Schedule your showing today to explore the possibilities.
Financials available upon request.
Location
State CO
County Denver
Zoning C-MS-5
Exterior
Waterfront Description Public
Private Pool No
Building
Sewer Public Sewer
Water Public
Architectural Style Traditional
Others
Tax ID 5044-21-019
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
NEARBY SCHOOL & BUSINESS
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