Iconic Louisville Blue Parrot Restaurant sold to Boulder County investor for $2.42 million

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Boulder County

Property Location: 636-640 Main St., Louisville

Property Description: 6,464-sf restaurant building, YOC 1988,

Land Size: 20,759 sf

Sales Price: $2.42M, or $374.38 psf

Reception No.: 03572708

Grantor: Blue Parrot Inc., Joan Riggins, president

Grantee: 1882 Ventures LLC, Gregory Maring & Mark Obenholzer

Closing Date: 2/1

Financing: $1.96M payable to seller at 4%, due 1/31/22

Comments: The sale includes 13,105-sf of parking area. The restaurant closed after 98 years of serving Italian food. Local real estate experts indicate the additional cost of the fixtures and personal property amounted to another $150,000. Rumors indicate the building could be redeveloped for three to four tenants, including the Tilt Arcade being the first occupant.

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.

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