56 S Broadway Denver, CO ^$ 1,575,000

56 S Broadway

^$ 1,575,000

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56 S Broadway

Denver, CO, 80209

^$ 1,575,000

Studio Baths0.0 Sq 5,220

Monthly Estimate*

^$ 10,468

Listed by Unique Properties LLC

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Studio

Commercial Property for sale in Denver, CO

for $1,575,000. This 5,220 square foot building was built in 1900 on a lot size of 0.07.

56 S Broadway is a 5,220 SF mixed use retail and multi-family building located in the heart of the South Broadway corridor at Broadway and Archer Place. South Broadway between 6th Avenue and Alameda Avenue is a thriving, highly desired micro-market with unique mix of restaurants, shops and residential living. The property has one retail tenant on the first floor that has been in the property for 26 years and 4 residential apartments on the 2nd floor that consistently stay occupied. The apartments consist of one 1 bedroom/1 bathroom and three urban 1 bedroom/ 1 bathroom (studio apartments with a half wall creating separate living room and bedroom areas while keeping an open layout), all with a historic charm featuring brick walls, hardwood floors, skylights, and clawfoot tubs. The property has been very well cared for and maintained by the current owner that has owned the property for over 25 years.56 S Broadway is a great mixed-use investment property that provides a diverse income stream from in demand retail and residential units. This offering is a value add investment with the opportunity to increase rents, bill back utilities to the residential tenants and to convert the retail tenant’s lease to a NNN lease. 56 S. Broadway is well located in the South Broadway corridor, one of Denver’s most unique streets featuring an eclectic mix of restaurants, shops, and residential living. There is easy access to the property from I-25, the West Wash Park and Historic Baker District neighborhoods, and the newly developed South Broadway two-way bike lanes right outside the front door of the building. The property is within minutes of Downtown Denver, Cherry Creek and the RTD LightRail Station at Broadway and I-25. 56 S. Broadway’s location benefits from an in-demand Retail and Entertainment trade area, a desirable residential leasing market and the high volume of 7 day a week, day and night time foot traffic on South Broadway. *PLEASE DO NOT DISTURB RETAIL TENANT*

Commercial Active

Price

^$ 1,575,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 21,682

Style

Low Rise (1-3)

Lot Size

0.07

Year Built

1900

Town/City

Denver

County/Region

Denver

MLS | Web ID

6251234

Features

General

Sewer Public Sewer

Utilities Cable Available Electricity Available Electricity Connected Internet Access (Wired) Natural Gas Available Natural Gas Connected Phone Available Sewer Connected

Possession Closing/DOD

Roof Membrane

Zoning G-MS-5

Garage Spaces 0

Construction Materials Brick Frame

Exclusions Any and all tenant owned property.

Year Built 1900

Electric 110V

Stories 2

Property SubType Multi-Family

Tax Year 2023

Current Use Multi-Family Retail

Gross Income 142200

County Denver

Operating Expense 55966

Property Type Commercial Sale

Attached Garage N

Building Features Coin Laundry

Status Active

City Denver

NumberOfUnitsTotal 4

Lot Size Units Square Feet

Lot Size Square Feet 3049.2

Carport Spaces 0

Street Name Broadway

Listing Terms Cash Conventional Owner Will Carry

Tax Annual Amount 21682

Leasable Area 5220

Lease Considered Y/N N

Structure Type Low Rise (1-3)

Standard Status Active

Occupancy Type Tenant (Multiple)

Cap Rate 5.48

Exterior

Water Source Public

Total Parking 0

Lot Size Area 3049.2

Building Area Total 5220

Lot Size Acres 0.07

Road Frontage Type Public

Road Responsibility Public Maintained Road

Internal Only

Street Number 1 56

* Excluded Features

List By

Unique Properties Llc

Broker

(303) 321-5888

Phone

Affordability Calculator

$12,275

Per Month

Monthly Principal & Interest: $10,468
Monthly Property Taxes: $1,807
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Denver, CO

Average List Price ^$2,090,765

Percent of Sale Price 33%

About Denver, CO

24,748 Population

9% Since 2002

^$36,940 Median Income

38.83 Median Age

13% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

242254 Elementary School

242425 Middle School

Unknown High School High School

Pricing History

Date	Price	Price Change	Description
5/2/2024	$1,575,000		Listed Price

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56 S Broadway, Denver, CO, 80209 is a Commercial Property for sale at $1,575,000 with 5,220 sqft and a lot size of 0.07. 56 S Broadway is a studio with 0.0 baths and was built in 1900. The property's zip code is 80209 which is in Denver, CO

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate on this web site comes in part from the Internet Data eXchange (IDX) Program of the REcolorado. Real estate listings held by firms other than Weichert Realtors are marked with the IDX logo and detailed information about them includes the Listing Broker’s Firm Name.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 6/4/2024.

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56 S Broadway

Commercial Property for sale in Denver, CO

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