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Highland retail center at 32nd & Lowell sells for $5.19 million

Denver County

Property Location: 3496 W. 32nd Ave., Denver

Property Description: 11,929-sf, two-story retail building, YOC 1910, brick

Land Size: 12,600 sf

Sales Price: $5.19M, or $434.66 psf

Reception No.: 2017059934

Grantor: Lowell Properties LLC, Kenneth J. Wolf, mgr.

Grantee: 32nd and Lowell LLC, Tyrone & Megan Rocque, mgr., 303-948-9330

Closing Date: 5/4

Financing: Assume balance of $2.9M payable to Genworth Life Insurance

Comments See APN: 02293-04-059. The second floor consists of renovated apartments. Reliable sources indicate the in-place cap rate is nearly 5.6% based on current income. The Matador restaurant occupies the first floor of 3490-3496 W. 32nd Ave. The property was listed by Todd Silverman & Alexander Bos of NAI Shames Makovsky, 303-534-5005.

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.