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3550 West 38th Avenue, Denver, CO 80211

EL
CO 224431
Lucero Real Estate
Listed by Lucero Real Estate
$8,990,000
17 days on market
Updated 17 days ago

Plaza 38 @ Lowell - 3550 West 38th Avenue- Retail A

Details
Property Type Retail, Office
Sub Type Traditional Office, Shopping Center (+1)
Square Footage 22,041
Net Rentable (SqFt) 19,982
Units 175
Cap Rate 6.87%
NOI $617,700
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options yes
Pro-Forma Cap Rate 0.57%
Pro-Forma NOI $51,475
Price per SqFt $408
Class A
Year Built 2017
Lot Size (SqFt) 122,857
Zoning C-MX5
Parking Spaces 175 spaces
Parking Per SqFt 7.94
Investment Type Institutional
Ground Lease No
Sale Condition 1031 exchange

100% leased

Marketing description

Retail A is well-located retail center containing 8 commercial units which are 100% occupied with quality tenants. 52 surface parking spaces and 123 spaces in the lower-level garage make this center unique as no other in the market area.

Investment highlights

Retail A of Plaza 38 at Lowell retail condo is a 22,041 square feet ground floor mixed retail, office, and commercial space. Its tenants include a physical therapist, real estate and accounting professional office spaces, complimented by a new nationally franchised music school, math tutoring, dental, nail salon and a national bank. It includes 48 full time surface parking spaces and 123 in the lower level.

Retail B can be combined with Retail A at $3,990,000 with a potential seller lease back at a total price of $12,980,000. Plaza 38 Food Hall is a 6-unit food hall with three full kitchens and PCU supported exhaust systems. It also contains an Acai' vendor, Colombian food kitchen and a full-service bar, Bar38. Combined seating is approximately 200 plus two outdoor patios.

Great for owner/user or multi-unit rental food hall.

Listing Contacts

EL
CO 224431
Lucero Real Estate
Listed by Lucero Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$617,700.00
$51,475.00/mo

Valuation Metrics

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DSCR
6.87%
Cap Rate
6.87%
ROI

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Additional Information

Name
EUGENE LUCERO
License
224431
Brokerage Phone
3034583800
Brokerage Address
3550 West 38th Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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