Downtown Denver office/retail building yields $5.3 million

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Denver County

Address or Location: 1641 California St., Denver

Improvements: 19,121-sf, three-story office building plus lower-level retail area, YOC 1978, renovated in 2013, brick construction

Land Size: 6,262 sf

Date of Recording: 11/7

Reception No.: 2017151623

Price: $5.3M, or $277.18 psf

Grantor: 1641 California LLC, c/o NAS Properties LLC, Nathan Schnabel, mgr.

Grantee: J&G 1641 LLC, Gregg Orlinsky, mgr., Vail 81657

Financing: Cash

Comments: Listed and sold by Dan Grooters and Riki Hashimoto of NGKF. See APN: 2345-27-009. There was $1 million in TI and building improvements in last four years. The property has a light-rail stop a block away at 18th & California St. The property is a long-term investment for the purchaser and was sold on an 6.3% in-place cap rate.

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 [email protected]

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