The Gallery @ 38this an innovative mixed-use property located in the heart of downtown Wheat Ridge in the direct path of redevelopment for the city.
The first floor is comprised of two retail tenants. Books & Brews has recently signed a long term lease for the majority of the main floor. In addition, there is a Tattoo Parlor occupying the remainder of the space at below market rents. Their lease expires at the end of the year which provides a new owner the opportunity for upside in the short term.
The second floor is a redesign of a 3-unit muiti-family apartment that has been turned into a creative Airbnb rental platform. There are currently three master leases for the airbnb units. The property can be purchased as a passive investment with the leases in place or a new owner has the option of taking over the Airbnb business at no additional cost and significantly increasing their return on investment.