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Bankruptcy Auction: Denver Retail Center
Date: 4/24/2018 3:12:46 PM
From: David Levy
Bankruptcy Trustee Auction
Bid Deadline: May 30
Auction Website: www.NRC.com/1805
Multi-tenant Retail Strip Center - 2 Blocks from Light Rail
6451, 6553, 6579 W. Colfax, Lakewood, CO 80214
Prime Value-Add Opportunity - High growth area, 10 min. from downtown Denver.
15-unit strip center across 3 buildings. 42,885 sf net leasable area on 3.49 acres. Tenants include Family Dollar, liquor store, coin laundry restaurants.
Transit Oriented Development Area (TOD)
Minimum Bid: $3,745,000
2017 NOI: $365,055
9.7% Cap Rate
69% occupancy (3 vacant units)
6 leases expire within 2-years
Adjacent shopping center has reportedly grown 20% in 3 years. Next to Casa Bonita restaurant - 500,000 annual visitors.
Broker Co-Op: 1.5%
Sale subject to Trustee and bankruptcy court approval.