Redevelopment site & 7-Eleven on North Washington sell for $1.48M

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Adams County

Address or Location: 6331-41 Washington St., Denver

Improvements: 7-Eleven retail store w/2,585 sf, YOC 1986; 1,421-sf house, YOC 1948; 1,922-sf tavern, “Y-Knott Bar” (lease expires in 2019), YOC 1935; 1,008-sf retail store, YOC 1935

Land Size: 1.78 acres

Date of Recording: 4/3

Reception No.: 2018000027215

Price: $1.48M, or $253.39 psf

Grantor: 7-11 Washington RE LLC, c/o Matrix Group Inc., attn: John C. Webb, 303-333-7500

Grantee: SCI Waterstone Fund 7 LLC

Financing: $1.23M payable to seller, due 11-1-2025

Comments: See APN: 01825-10-1-01-018. Block 1, Palermo Tract No. 2. The property is located on the southwest corner of E. 64thAve. & Washington St. Matrix Group purchased this property in August 2017 for $1.3 million. At the expiration of the lease for the Y-Knott Bar in 2019, all of the existing improvements (except for the 7-Eleven retail building) will be torn down and the site will be redeveloped into new retail space.

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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