A large redevelopment property in Lakewood is now for sale for $4.5 million. The property, located at 7801-7833 W. Colfax Avenue and 1557 Yarrow Street, encompasses 31,955 square feet of net rentable space situated on an 84,000 square foot lot.
Listed by Marc Lippitt and Justin Herman of Unique Properties Inc., this site is zoned M-G-U, allowing for a variety of business uses, including a car dealership, retail operations, or service-oriented enterprises. The property features an attached drive-thru wash bay and benefits from significant visibility with 300 feet of frontage on Colfax Avenue, the longest continuous main street in the United States.
Additionally, the zoning permits development of structures up to 90 feet in height, presenting further opportunities for future growth. The site includes upgrades such as new HVAC, parking lot lighting, and exterior building lighting. The adjacent property can also be purchased, and one of the buildings is leased until December 2028 for $9,000 plus NNN.
This listing presents a notable investment opportunity in an expansive and versatile space, with future infrastructure improvements planned for stormwater and drainage management.
Source: Property Listing