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
Denver Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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