This week we look at another auto body shop being marketed for potential multifamily redevelopment.
The site consist of 14,375 square feet(0.33 acres) with dual frontage along 38th Ave and Meade Street. The asking price for this site is currently $3.1M.
The property is currently being touted by NAPS Construction Associates, a Denver based construction company that specializes in urban first redevelopment.
In shocking Denver fashion, the property was last sold in 2012 for $340,000, and offers a huge investment opportunity for those looking to take advantage of the growing 38th Ave corridor.
According to the public marketing material, the site will come with approvals to develop 36 condos or 44 apartments.
We estimate redevelopment of this site will move quickly considering we recently announced 26 townhomes on the way to 5785 W 38th Avenue along with Denver's beloved Huckleberry Roaster bringing another location to 5990 W 38th Avenue.
We'll be sure to check back with updates when this property sells to a developer.
For more information, contact Paul Stann of NAPS Construction Associates.