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7427 Grandview AVE Arvada, CO 80002
1,306 Sqft Lot
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4373810
Style Traditional
HOA Y/N No
Originating Board recolorado
Year Built 1890
Annual Tax Amount $19,925
Tax Year 2024
Lot Size 1,306 Sqft
Acres 0.03
Property Sub-Type Retail
Property Description
THE RESTAURANT PORTION OF THIS BUILDING IS ACTIVE, THRIVING AND OCCUPIED AND WILL REMAIN ACTIVE AND OCCUPIED, THE BUSINESS IS NOT FOR SALE. PLEASE DO NOT DISTURB THE BUSINESS OR THE APARTMENT TENANTS. SHOWINGS WILL ONLY BE ALLOWED WITH A MUTUALLY EXECUTED CONTRACT OR A LETTER OF INTENT ACCEPTABLE TO THE SELLER. THE LISTING BROKERS WILL ATTEND SAID SHOWINGS. This is a multi-use building with the Grandview Grill Restaurant occupying the main floor and 3 apartments on the upper level (see MLS #4213409). All apartments are on a month to month lease. Apartment #3 will be vacated approx. 5/1/2025. The restaurant is currently leased at $5,040.00 monthly until 11/30/2025 with an escalation to $5,166.00 monthly from 12/1/2025 through 11/20/2026. The restaurant lease is a modified triple-net lease. The current lease on the restaurant gives the tenant the option to renew the lease for an additional term of five (5) years and if the option is exercised, the new term shall run from 12/1/2026 until 11/30/2031 with the rental rate, based on current market rates at that time to be negotiated upon receipt of notice to renew the lease for an additional five years. All leases to be provided upon said mutual executed contract or letter of intent. There are two patios front and to the rear for outdoor seating being used by the restaurant and the square footage includes a 668 sq. ft. basement being used by the restaurant. Upgrades : $22,000 facade grant by the City of Arvada was used to replace windows with custom wood-framed units to match historic, exterior paint, rebuilt front retail facade to match original historic, paint historic cast iron front and refresh outside patio for bar use. Central Air and commercial hot water tank 2008. Plumbing replaced between the floors. Membrane roof 2020. Previous restaurant renters installed a new kitchen, hood system, updated bathrooms, tin ceiling, refreshed paneling, booths, hardwood floors.
Location
State CO
County Jefferson
Zoning Multi-use
Interior
Fireplace N
Exterior
Utilities Available Electricity Connected, Natural Gas Connected
Roof Type Membrane
Garage No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Structure Type Stucco,Wood Siding
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by RE/MAX Alliance • [email protected],303-523-9184