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2245 Kearney St, Denver, CO...

Blue West Capital Sells Park Hill Shops Retail Property In Denver For $3.4M
SOLDRetail

Blue West Capital Sells Park Hill Shops Retail Property In Denver For $3.4M

2245 Kearney St, Denver, CO, 80207

$3,400,000

$371/SF

Building Size

9,160 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

The Park Hill Shops, located at 2245 Kearney St in Denver, CO, is a 9,160-square-foot retail property that was originally built in the 1950s as a movie theater. The asset was recently sold for $3.4 million to a local 1031 exchange investor. The sale was brokered by Robert Edwards and Tom Ethington of Blue West Capital.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $3,400,000.00
  • Market: Denver
  • Seller's Rep: Robert Edwards(Blue West Capital), Tom Ethington(Blue West Capital)
  • Buyer: Undisclosed 1031 Exchange Investor

A Colorado-based real estate investment company was the seller in the transaction. The successful deal was facilitated by the expertise of Robert Edwards and Tom Ethington, who represented the seller, ensuring a smooth transition of ownership for the retail property in Denver.

Players

Robert Edwards

Blue West Capital

Broker

$5.8M

vol

2 deals

Broker
UI
Undisclosed 1031 Exchange InvestorBuyer

Denver Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93