The Dive Bar 11810 W Colfax Ave

Free-standing building with a single tenant on a Modified Gross Lease. The main level serves as the bar, seating, pool tables, and enclosed covered outdoor patio seating. The lower level has walk-in coolers, an office, storage, and restrooms. Loyal clientele long time established. No vacancy in over 50 years!
High-traffic West Colfax stable neighborhood, lots of retail and office support.
***The purchase price includes all business goodwill and FF&E. The current operator is also open to a sale and leaseback if the buyer is not interested in the business operations.
Current Tenant:
GROSS rent- $4,588 monthly or $55,056 Annually
Term- 3 years
Escalations- ~4% annually
EXPENSES:
Taxes 2023- $9068 (Property Owner Pays)
Insurance- $3790 (Property Owner Pays)
Water, Electric, and Gas- Paid by Tenant directly to the provider
Trash- Paid by the Tenant directly to the provider
CAM- Tenant covers costs directly (snow removal, groundskeeping, trash, Grease bin maintenance...etc)
Recent improvements:
Furnace- New as of 2 years ago- Property Owner Expense
Evaporative Cooler is in good working order for A/C but has not been replaced during their ownership and they do not know the exact age of the unit. They bought the property in September of 2015
The roof has not been replaced during their ownership.
Building exterior was painted in the last 5 years. Property Owner expense.
Parking lot asphalt work was also completed in the last 5 years. Property owner's expense.
Tenant is responsible for keeping up the building exterior and parking lot, but the owner is responsible for major replacements like a new roof, asphalt, exterior painting etc.