Pinnacle Announces Record-Breaking Sale in Denver’s Highland Neighborhood
Justin Krieger, Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of a +/-1,950 square foot single story commercial building on a +/- 6,237 square foot lot with a billboard located at 1500 West 38th Avenue in Denver’s Highland neighborhood. The transaction closed on August 8, 2022 for $1,365,000, representing approximately 101% of list price. Justin Krieger represented the seller in the transaction, and Brian Baker and Tanner Fanello of Fuller Real Estate represented the buyer. According to CoStar, the property’s $700 per square foot sale price is a record high for a commercial property on West 38th Avenue in Denver’s Highland neighborhood.
“Despite some market headwinds, buyer response to this opportunity was extremely strong due to the property’s outstanding location on a signalized corner at the entrance to one of Denver’s most desirable neighborhoods, flexible zoning, and renovations completed by the seller.” said Krieger.