Arapahoe County
Property Location: 4509-4545 S. Broadway, Englewood, “Ace Hardware Bldg.”
Property Description: 10,879-sf, YOC 1954, block construction; 4,850-sf retail building, YOC 1957, masonry construction (total of 15,729 sf in two buildings)
Land Size: 34,543sf
Sales Price: $2.6M, or $165.30 per sf
Reception No.: D6073231
Closing Date: 7/7
Grantor: IH Holdings Two LLC, Hugo Weinberger & Ilan Reissner, mgrs.
Grantee: O1 LLC, Melinda Quiat, mgr., 303-759-1000
Financing: $1.63M payable to Guaranty Bank & Trust
Comments: See APN: 2077-10-2-17-015, 016, 017. Rob Edwards & Tom Ethington of Pinnacle Real Estate Advisors listed the property. The seller invested over $250,000 since October 2014, including replacing the roofs, replacing and restriping the parking lot. There is approximately 8.5 years remaining on the lease. Seller’s company is Situs Real Estate, 303-789-3030. The property sold on a 6.5% in-place cap rate, not considering vacancy or reserves.
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.
