11810 W Colfax Ave - Bar FOR SALE


Lakewood, CO 80215
$750,000 USD
720-425-7360
11810 W Colfax Ave, Lakewood, CO for Sale
$750,000 USD
Bar - FOR SALE
1/4
null | 5.63% Cap Rate

11810 W Colfax Ave
Lakewood, CO 80215


OVERVIEW

Free-standing building with a single tenant on a Modified Gross Lease. The main level serves as the bar, seating, pool tables, and enclosed covered outdoor patio seating. The lower level has walk-in coolers, an office, storage, and restrooms. Loyal clientele long time established. No vacancy in over 50 years! High-traffic West Colfax stable neighborhood, lots of retail and office support. ***The purchase price includes all business goodwill and FF&E. The current operator is also open to a sale and leaseback if the buyer is not interested in the business operations. Current Tenant: GROSS rent- $4,588 monthly or $55,056 Annually Term- 3 years Escalations- ~4% annually EXPENSES: Taxes 2023- $9068 (Property Owner Pays) Insurance- $3790 (Property Owner Pays) Water, Electric, and Gas- Paid by Tenant directly to the provider Trash- Paid by the Tenant directly to the provider CAM- Tenant covers costs directly (snow removal, groundskeeping, trash, Grease bin maintenance...etc) Recent improvements: Furnace- New as of 2 years ago- Property Owner Expense Evaporative Cooler is in good working order for A/C but has not been replaced during their ownership and they do not know the exact age of the unit. They bought the property in September of 2015 The roof has not been replaced during their ownership. Building exterior was painted in the last 5 years. Property Owner expense. Parking lot asphalt work was also completed in the last 5 years. Property owner's expense. Tenant is responsible for keeping up the building exterior and parking lot, but the owner is responsible for major replacements like a new roof, asphalt, exterior painting etc.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$366 USD /SF

CAP RATE

5.63%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Dive Bar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bar

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

Commercial

APN/PARCEL ID

49-051-01-010

ASK ABOUT THIS PROPERTY

Forrest BassettVanWest Real Estate GroupMore Info
720-425-7360

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Forrest BassettVanWest Real Estate GroupMore Info
720-425-7360

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.