In a little over a decade, nearby East Colfax Ave. and surrounding areas have been brought back to life
Great Investment Opportunity
Just north of East Colfax Avenue in Aurora, CO, near the corner on Kingston Street, is a new investment opportunity that has recently come on the market with 16,117 square feet currently serving as a car wash. This property can benefit the potential investor as both a stream of car wash revenue and a business and investment possibility, especially since this area of Aurora is still in a constant rate of continued exponential growth.
Located nearby on East Colfax Ave. is the large UC Health Anschutz Outpatient Pavilion, UC Health Hospital, and the UC Health Anschutz Medical Campus, considered the largest academic health center in the Rocky Mountain region.
This entire area got its tremendous start from a domino effect when our federal government decommissioned the original Fitzsimons Army Hospital, later called Fitzsimons Army Medical Center, located on 577 acres that opened in 1918 and closed in 1999. From the turn of the century forward, these grounds were redeveloped for civilian use, exploding with activity. With it, the immediate and surrounding areas became highly transformational districts that have not stopped growing.
The seller has completed $50,000 plus improvements on the current property, including installing credit card readers for the convenience of its customers. From the purchase of this property, an investor can immediately start collecting operating income from an established base through this carwash business while possibly even considering a complete redevelopment of the site in the future, which would open up deep tax breaks from this site, existing within a special area referred to as an enterprise zone.
Investment Summary Overview
Property: 1530 Kingston St.
Asking Price: $930,000
Building Size: 2,180 sf
Lot Size: 16,117 sf
Zoning: OA-G
Cap Rate: 8.72%
County: Adams
Enterprise Zone: Yes
Estimated Daily Traffic Count (2022)*
I-70 Bus at Kingston St. E.: 29,139 VPD
I-70 Bus at Ironton St. W.: 29,966 VPD
I-70 Bus at Macon St. W.: 32,713 VPD
Area Demographics (2023)*
Avg. Estimated Population 2010: 25,948 – 1 Mile, 143,736 – 3 Miles, 350,881 – 5 Miles
Avg. Estimated Population 2023: 34,841 – 1 Mile, 182,578 – 3 Miles, 422,175 – 5 Miles
Avg. Household Income: $64,110 – 1 Mile, $83,645 – 3 Miles, $93,331 – 5 Miles
*Traffic & Demographics Source: CoStar Group | 2024
Additional Property Photos
Contact
Lev Cohen
720-232-4118 cell
lev@weststarcommercial.com
Sheldon Hayutin
303-888-8597 cell
sheldon@weststarcommerical.com
Information contained herein, while not guaranteed, is from sources believed reliable. Price, terms, and information subject to change.