NNN Investment Condos - Downtown Denver

Highlights

• U-102. Fully fixtured 2,193 SF Ramen restaurant space lease through November 30, 2029
• Two 5 year options
• 12' hood ad 400 amp/3 Phase electrical panel Outdoor patio space fronting California St.
• Rear alley delivery access
• Storage available within the building
• Near 16th & California light rail
• Near the Colorado Convention Center and Denver Center for the Performing Arts
• NNN expense $22.95/SF includes quarterly grease trap cleaning, monthly steam heat, trash, HOA dues for building, but excluding shared bathroom cleaning expense with adjacent tenant.

Description

NNN Investment Condo - Downtown Denver . One fully fixtured restaurant space available. Very near light rail stop at 16th & California.

Investment condo just off the 16th Street Mall, the premier pedestrian and RTD transit mile and a quarter long promenade thought of as Denver's Main Street. The intersection of California and 16th Streets is often defined as the "heart" of this powerful economic engine.
Downtown Denver went from a pre-pandemic average of 250,000 people daily, to a low of 40,000 - 50,000 in March and April 2020. March 2021 marked the start of a sustained increase in downtown activity. In June 2022, downtown enjoyed several days of foot traffic with over 200,000 visitors.
Downtown Denver experienced a decade of employment growth, averaging 3% annual employment increase since 2011. The 2020 global pandemic disrupted our growth trajectory with about 20,000 jobs lost and a negative 14% growth rate. The good news is that Denver has demonstrated resiliency and is positioned for continued growth. While we haven't hit our pre-pandemic employment figures, employment grew by 8% over the last year adding about 10,000 additional jobs from 2020 to 2021. Leisure & hospitality and information sectors had the highest growth rates of 52% and 21% respectively year over year. Although these industries were hit the hardest, the numbers illustrate a return to in-person dining and travel, and that people are coming to enjoy our city and all it has to offer. Employment in the high tech sector continues to be a bright spot, with 20% growth rate in the last year.
Denver continues to attract new development and investment as a top growth market in the U.S. 41 projects have been completed over the past four years in Downtown Denver, bringing more than $3.2B in investment from 2018 to May 2022. These projects added 6,084 new residential units, 2.8 million SF of office space, and 1,434 new hotel rooms to our center city, creating opportunities for future growth and innovation. Completed projects included McGregor Square and Market Station, two transformational mixed-use projects completed in 2021, and the 30-story office building, Block 162. Currently, 14 projects are under construction representing more than $2B in investment, with many more planned for development. In addition to many private sector planned developments, major public sector projects are under way. The 16th Street Mall reconstruction began in 2022 with construction completed by Q4 2024 and the Colorado Convention Center expansion began in 2021 demonstrating Denver's continued investment in the future.
Denver is ranked the 5th most preferred market in the U.S. for real estate investment in 2022.
*Information provided by Downtown Denver Partnership AI/DDP

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