3200 W 72nd Ave

Westminster, CO 80030

Property Overview

Address 3200 W 72nd Ave Westminster, CO 80030
Property Type Multi Tenant Retail
Building Size SF 9,241

Centennial Advisers is pleased to present 3200 West 72nd Avenue + 7181 Hooker Street, a prime multifamily redevelopment opportunity in Westminster, CO. This offering includes two parcels: an 8,200 SF freestanding retail building and a 1,041 SF single-family home on 22,216 square feet of Commercial Mixed Use (CMU) Land, priced at $1.3M. Located at the signalized intersection of West 72nd Avenue and Hooker Street, the property offers excellent visibility, ample frontage, and easy access to major transportation routes, including I-25 and US 36, making it ideal for residential or commercial redevelopment.

The highest and best use for the site is mixed use multifamily development, permitted by-right under its CMU zoning. This zoning allows for significant density, building height, and a variety of residential and retail uses, providing flexibility for a variety of redevelopment options. The site is also located within an Opportunity Zone, offering potential tax incentives for redevelopment. Westminster’s submarket is experiencing strong demand for quality rental housing, creating an excellent opportunity for a new multifamily development to meet this need.

With its strategic location in a growing commercial area, the property benefits from high traffic counts and a dense residential and employment base. The surrounding neighborhood features consistent pedestrian activity, schools, retail centers, and other high-traffic locations, ensuring a built-in audience for future development. Whether for multifamily, commercial, or mixed-use projects, 3200 West 72nd Avenue + 7181 Hooker Street is a versatile investment offering significant long-term value and growth potential.

Highlights

Multifamily Redevelopment - The highest and best use for these two parcels is multifamily development, offering strong value potential. This redevelopment opportunity caters to the growing demand for modern residential units.

Strategic Corner Location - Located at the hard corner of Hooker Street and 72nd Avenue, this property enjoys high visibility and easy access. Heavy traffic ensures strong exposure for future tenants or commercial use.

Value Add Through Redevelopment - This site presents an ideal multifamily redevelopment play, maximizing long-term value. The property’s redevelopment will address the local demand for modern housing in a growing area.

Zoning Flexibility And Restrictions - Zoned Commercial Mixed Use (CMU), this property allows multifamily development with approximately 5 stories in height and 36 units per acre. It also offers the flexibility to include commercial uses like retail or small businesses.

Affordable Land Price - At just $58 per square foot, this land is priced well below market rates. This affordability offers a unique opportunity for cost-effective redevelopment.

Strong Demographic Support - The property is surrounded by schools, retail centers, and high-traffic areas, providing a dense and diverse demographic. This location’s growing demand for multifamily housing ensures future development success.