Equitable Building

Highlights:

• A rare opportunity to buy a highly visible 1st floor retail/office condominium with mezzanine offices with Stout Street and 17th Avenue street frontage, AT ASK PRICE, RENT EQUIVALENT OF ONLY APPROX. $16.25 S.F. NNN - MUCH LOWER THAN 1ST FLOOR RETAIL RENTS IN THE AREA. It provides a turn-key opportunity of a great location for a financial institution or other commercial user looking for a signature location in Downtown Denver. The Equitable Building is in a class all by itself with ornate finishes, Tiffany stained glass, open curved master stairwell and an array of different office improvements. This Italian Renaissance Revival Edifice is filled with intricate brass details, marble wainscoting, marble mosaic tiles in Byzantine motifs on the vaulted ceilings, and elegant chandeliers on the interior and granite blocks, grey brick, terra cotta banding, and elegant details abound on the exterior. The unit is currently finished out with TWO vaults including a 35-ton circular walk in vault and updated clean white finishes throughout the offices, conference room, hallways and lobby. One of Denver's finest and storied historic properties converted to condominiums in 2011. **Ask broker about unfinished SF not included in this price as well as prominent exterior corner building signage per picture above. * RECENTLY REDUCED

Description:

Equitable Building - Beautiful Ground Floor with New Interior

This 1st floor small hard corner commercial space is located in the heart of the central business district within one block of the 16th Street Mall, across the street from an RTD light rail stop serving light rail up and down Stout street and offering easy access to public transportation in front of the space on 17th Avenue. Employment downtown reached a record high of 133,478 people, which is up 2.5% from 2017. Downtown's residential population has tripled since 2000, with nearly 23,000 people now living downtown. Over $1.35 billion in new development was completed in 2017 and early 2018, with another $2.26 billion under construction or planned. Retail downtown experienced a solid growth year, with retail sales tax collections up 6.4% year-over-year with a total of over 4,000,000 sf of retail space with a 3.3% vacancy rate (down 31% year-over-year). Hotel performance is achieving modern day records with an average 79% occupancy rate and $186 average daily room rate for downtown hotels in 2017. Technology employment is up 74% since 2010 with 626 technology businesses located in Downtown Denver.

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