Denver County
Property Location: 4151 E. Colfax Ave., Denver, “Safe Splash Swim School”
Property Description: 6,513-sf retail building, YOC 1993, masonry
Land Size: 39,693 sf
Sales Price: $2.85M, or $437.59 psf
Reception No.: 2017069867
Grantor: 4151 Denver LLC, Matt Lane, director
Grantee: Dwellings LLC & Mile High Real Estate Enterprises LLC, Tom Jacky, Doug Campbell & Matt Lewallen
Closing Date: 5/26
Financing: $1.99M payable to First National Bank of Arapahoe
Comments: Listed by Rob Edwards and Tom Ethington of Pinnacle Real Estate Advisors LLC. Buyer was represented by Matt Lewallen & Kevin Calame of Pinnacle. Ten-year lease with 7% increases every five years reflects 7% going-in cap rate. Seller purchased the property in June 2013 for $1.45M. The buyer facilitated a 1031 exchange for its apartment building at 1422 Leyden St. in Denver, which sold for $2.16M. It purchased the apartment building in February 2016 for $1.5M.
Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
