$1,999,950

747 Santa Fe Drive, Denver CO, 80204

Price per sqftN/A

Built in1900

Property typeCommercial

Overview

Active

Listed Nov 29, 2024

Updated 15h ago

BEST GALLERY ON SANTA FE! Cash flow today. Redevelopment upside tomorrow. In the heart of Denver’s Art District on Santa Fe, this legacy art gallery gives investors and developers two ways to win: collect income now, or build up to five stories. Immediate income upside: · All 30 studio spaces are on month-to-month terms · Rents average roughly $300 per month below market · No long-term leases to wait out, so a new owner can move rents to market right away · No capital improvements required to capture the upside (potential pro forma) Redevelopment potential: · Zoning allows for a five-story building, ideal for apartments, condos, or mixed use · First-floor retail could be converted to retail condos or leased at market rates · Just blocks from the Denver Broncos Stadium redevelopment · High-demand area in one of Denver’s most vibrant creative districts Property features: · Studio space with a retail storefront, currently leased as a showroom and artist studios · 10 parking spaces in the back · Basement with ramp access · Recently updated fire escape that meets all code requirements Whether you’re after a cash-flowing asset or a ground-up development play, this one is hard to find and easy to picture. Schedule your showing today to explore the possibilities. Financials available upon request.

Additional information

MLS^® ID: 1981393

Interior Features

Basement: No

Exterior Features

Lot Size: 0.2 Acres

Other Property Details

Taxes: $54,161
Tax Frequency: Annually

Listed by Legacy 100 Real Estate Partners LLC, Jim Weichselbaum, Listing Contact: [email protected],303-888-4900

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