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.
Property details
Property
Type
Retail
MLS type
Commercial Sale
Status
Active
Year built
1900
Lot
0.2 AC / 8,798 SF
MLS #
1981393
Utilities
Water
Public
Sewer
Public Sewer
Financial
Annual tax
$54,161
Parcel
5044-21-019
Location
County
Denver
Ask about this property
Questions on 747 Santa Fe Drive, or want to see it in person?
Listed by Jim Weichselbaum, Legacy 100 Real Estate Partners LLC