650 E 64th Ave & 6331-6341 Washington St Denver CO
Current Performance Details
- Acquisition DateAug, 2017
- Acquisition Price1,300,000
- Add. Capital Costs100,000
- Total Cost1,400,000
- Total Project Size6,000 sf
- StatusUnder Redevelopment
- Current Value$1,500,000
- Market Value PSF-
- The property consists currently of 4 buildings anchored by a 7-11 located at the SW corner of 64th and Washington Street.
- The plan is to keep the 7-11 retail building, while demolishing two of the remaining three buildings.
- The remaining building, occupied by the Y-Knot Bar has a lease expiring in July 2019.
- In the interim, ownership plans to lease the vacant land temporarily as a contractor yard.
- Once the Y-Knot Bar lease expires, ownership plans to demolish the Y-Knot building and redevelop the land into an in-line retail center.
- Approximately 1.5 million square feet of Class A industrial space has been recently built in this area located within ½ mile of the intersection of 64th and Washington. Therefore, this trade area is currently under-served in the retail sector because of these new developments.