Uptown Multi-Tenant Retail Opportunity | 9.2 Years of Weighted Average Lease Term
Blue West Capital is pleased to exclusively offer for sale the multi-tenant retail condo at 450 East 17th Avenue in Denver, CO. The 10,732 square foot property is 100% occupied with Orangetheory Fitness, Rumours Karaoke Cafe, and Toasts N Roasts. All tenants have triple net leases with a total weighted average lease term of 9.2 years. There are 33 total parking spaces deeded to the retail condo, 12 of which are subsurface and 21 are in the adjacent, outdoor parking lot.
The property is centrally located in Uptown which is a dense neighborhood that has seen significant growth through recent development. There are over 9,350 multifamily units within 0.5 miles of the subject property and another 510 units currently under construction. East 17th Avenue is considered “Restaurant Row” with various restaurants bringing additional daytime and nighttime population near the property. This is a dense and affluent neighborhood with over 54,000 residents living within one mile and an annual average household income of $108,779 within three miles. The combination of demographics, service-based tenants, and ongoing development in the area make this a strong investment opportunity.