Ideal, high visibility location on busy South Santa Fe Drive (72,000 VPD) on a rare signalized intersection at Union Blvd. Comps nearby reflect high value for this area. Opportunity to purchase existing business and FF&E. Utilize this freestanding retail, scrape and build, or buy the business and building to enjoy $200,000 NOI.
Redevelopment: The City of Englewood has indicated that a rezone to Residential will be favorably considered. A parcel nearby sold for a higher $/AC and was scraped to create a now lucrative high-rise. No limit on building height allowance for any structure allowed under I-1 zoning. What pencils for your developer? Present it as a written offer.
Allowed uses:
Office, Car Dealership Tower, Self Storage Tower, or Parking Tower. Other allowed uses include C-Store, Grocery, Gas Station, Cannabis, Live/work, Hookah Lounge, Physical Fitness, Check Cashing, Bank, Brew Pub, Strip Club, Medical Clinic, Hospital, Dry Cleaner, Tattoo Shop, General Retail, Other Adult Use, Parking Facility, Auto Sales and more.
Due to new spacing regulations, this is the only small portion of Englewood remaining for a Cannabis Use. Once another Cannabis use nearby is utilized, this property will no longer be available for Cannabis. This was previously a restaurant with dumb waiter from downstairs to upstairs. Some restaurant infrastructure intact.
Adjacent parcels can also be acquired for assemblage---making a perfect gas station spot to put 7-11 across the street out of business. Total acreage of this parcel is .99AC including a .24 AC easement on east side. GLA of 10,586 SF includes basemen---5,293 SF upstairs and 5,293 SF basement. All information provided to be verified by purchaser.