3420 32Nd AveDenver, CO 80211

For Sale
$3,750,000

Denver retail investment, 5.82% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
90
This exceptional Denver retail investment opportunity presents three newly constructed, single-story retail condos totaling 6,797 square feet, situated on a 7,057 square foot lot. The property boasts 100% occupancy with three nationally recognized tenants: lululemon, Pure Barre, and Skin Laundry, all operating under long-term, triple-net (NNN) leases. Built in 2008 and renovated in 2010, the property features a modern design with central air conditioning and forced-air heating. Twelve parking spaces are available for tenants and patrons. The property is zoned PUD and benefits from a prime location in Denver's Highlands neighborhood, a highly walkable area with a thriving retail and dining scene. Surrounded by luxury apartments, townhomes, and single-family homes, this investment offers a strong, cash-flowing asset with minimal management requirements. The asking price is $3,750,000, representing a 5.82% cap rate and a pro-forma cap rate of 5.89%. The property's strong tenant mix, desirable location, and solid financial performance make it an attractive investment opportunity. The Net Operating Income (NOI) is $218,153. Individual gas and electric meters, as well as individual water and sewer services, are in place. The property offers dedicated signage opportunities, high ceilings, and flexible layouts. Secure access and surveillance systems enhance the property's security.

Highlights

  • Triple-net leased to Lululemon, Pure Barre, and Skin Laundry.
  • NNN leases with mid-to-long-term terms.
  • Modern building with recent construction.
  • Excellent walkability; strong retail and dining scene.
  • Located in a high-growth residential area with luxury housing.
  • 12 garage parking spaces.

Property Details for 3420 32Nd Ave

Property type
Other retail properties, Individual retail properties
Square Feet
6,797 SF
Year Built/Renovated
2008/2010
Buildings
1
Stories
1
Units
3

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.762118568005
Longitude
-105.03270299384
3420 32Nd Ave, Denver, Colorado

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3420 32Nd Ave
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