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Lakeridge Offices at Wadsworth Station 7400 W 14th Ave 8,586 SF 15% Leased Office Building Denver, CO 80214 $1,099,000 ($128.00/SF)
Investment Highlights
- Location adjacent Wadsworth Station at West Line of Light Rail. Easy access to interstates, highways, Downtown Denver, W Colfax & Belmar Shopping.
- Located in Jeffco and CO State Enterprise Zone and within Opportunity Zone, and within Lakewood Reinvestment Area (Urban Renewal).
- Upside Potential: Redevelop to multi-family or mixed-use up to 8 stories in M-C-Transit (TOD) zone. Possible 60-65 units.
- Remodeled and Updated in 2018. 8,586 SF OFFICES on .47 acre with fenced parking lot, double-gated. Flexible M-C-T (TOD) zoning, allows many uses.
- Possible Seller Carry Financing up to $500k with low interest rates for 2-3 years.
Executive Summary
New PRICE ENHANCEMENT! Owner/User or Investment Office Building 8,586 SF on 20,497 SF parcel (.47 acre) adjacent to RTD West Line, Light Rail Station at 14th & Wadsworth. Within two blocks of buslines and major retail centers and numerous restaurants on W Colfax Ave (Hwy 40), i.e. Walmart, Home Depot, 40 West Arts District Galleries, etc. Approx 12 minutes to Downtown. Walk score: 79. Bike score: 83.
M-C-T zoning allows many uses including offices, medical, retail, club/lodge, community building, mixed use, adaptive reuse (apartments)....
2-story masonry building with 29 park spaces (3.75/1000) fenced and double gated, asphalt parking lot. YOC: 1964; Renovated/remodeled 2018. Single or multi-tenant. Roof ~10 years old.
Updates: all windows, flooring, electrical panels, heat pump, lighting & restrooms to energy efficient; membrane roof ~2015. Elevator (currently non-working).
Located in an Opportunity Zone and W Colfax Reinvestment Area (Urban Renewal). The property can use a Denver, CO street address.
REDEVELOPMENT - FUTURE/CURRENT UPSIDE POTENTIAL: TOD ZONING for redevelopment to 8 stories multi-family or mixed use, with possible City/State/Federal tax and loan incentives including CHFA - it's reasonable to redevelop to 60-65 units.
Possible Seller Carry Financing: loan up to $500k - low interest rates to be determined for 2-3 years. Competitively priced at $1,099,000 or $128/SF.
M-C-T zoning allows many uses including offices, medical, retail, club/lodge, community building, mixed use, adaptive reuse (apartments)....
2-story masonry building with 29 park spaces (3.75/1000) fenced and double gated, asphalt parking lot. YOC: 1964; Renovated/remodeled 2018. Single or multi-tenant. Roof ~10 years old.
Updates: all windows, flooring, electrical panels, heat pump, lighting & restrooms to energy efficient; membrane roof ~2015. Elevator (currently non-working).
Located in an Opportunity Zone and W Colfax Reinvestment Area (Urban Renewal). The property can use a Denver, CO street address.
REDEVELOPMENT - FUTURE/CURRENT UPSIDE POTENTIAL: TOD ZONING for redevelopment to 8 stories multi-family or mixed use, with possible City/State/Federal tax and loan incentives including CHFA - it's reasonable to redevelop to 60-65 units.
Possible Seller Carry Financing: loan up to $500k - low interest rates to be determined for 2-3 years. Competitively priced at $1,099,000 or $128/SF.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
8,586 SF
Building Class
B
Year Built/Renovated
1964/2018
Price
$1,099,000
Price Per SF
$128.00
Percent Leased
15%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,293 SF
Slab To Slab
11’
Building FAR
0.42
Lot Size
0.47 AC
Opportunity Zone
Yes
Zoning
M-C-T (Lakewood) - Mixed Use-Core-Transit/TOD. High density allowed. Many uses possible: general offices, retail, club/lodge, community bldg, adaptive reuse (apts)....
Parking
29 Spaces (3.38 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Commuter Rail
- Fenced Lot
- Signage
- Kitchen
- Bicycle Storage
- Partitioned Offices
- Drop Ceiling
- Air Conditioning
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 49-021-06-027 | Improvements Assessment | $3,698 |
| Land Assessment | $4,980 | Total Assessment | $8,678 |
Property Taxes
Parcel Number
49-021-06-027
Land Assessment
$4,980
Improvements Assessment
$3,698
Total Assessment
$8,678
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Lakeridge Offices at Wadsworth Station | 7400 W 14th Ave
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