Kyle Malnati with Kentwood Commercial is pleased to announce the sale of a retail/residential property portfolio, ideally situated in Denver’s highly coveted West Wash Park neighborhood.  This prime asset is set on an 8,853 SF lot and features a 3,428 SF retail building along with a 1,642 SF single-family home. Located on a peaceful, tree-lined street just a stone’s throw from bustling Alameda Avenue, near Washington Park. West Wash Park is renowned for its lively atmosphere, brimming with restaurants, specialty shops, bars, services, and parks. U-MS-2 zoning.

Kyle Malnati was the only broker involved in the sale. “This portfolio of properties offered an interesting mix of possibilities to the right buyer. McMahon Cleaners was in operation for over 70 years, Finley’s Pub was a neighborhood favorite for a dozen years, and the residence had been recently renovated. However, both businesses closed down, which created additional complexities to the sale.

We implimented a detailed marketing plan that generated 15 qualified showings and produced THREE competitive offers! The real work began over a lengthy 125-day contract period. We navigated through 4 contract amendments, a notice to terminate, revived the contract, and facilitated a Phase II environmental drilling and soil test before closing. Seller funded an $80,000 escrow for deferred maintenance. Stewart Title will facilitate said escrow to be drawn by Buyer over a 180-day period post-closing.”

The Seller, a couple, owned the properties for 19 years. The husband began working at McMahan Cleaners in the 1980s with his father. The wife worked with the restaurateurs. When the McMahan family retired, the Seller purchased the real estate in 2006. 

The Buyer is a successful, real estate investor that owns several similar projects in the area. They financed the purchase with ANB Bank and their first year of loan payments will be at 6.5% interest-only.