Habitat for Humanity of Metro Denver put its headquarters building at 3245 Eliot Street on the market for sale this week, in a listing managed by CBRE. The 0.95-acre site sits at the corner of West 33rd Avenue and Eliot Street in the popular Highlands neighborhood, just west of Denver’s central business district.
Monica Wiley and Jeff Wood with CBRE Capital Markets are representing Habitat for Humanity of Metro Denver in the sale. The list price is $6.8 million.
Originally built in 1955, the property includes a two-story building totaling 17,070 square feet and an 86-vehicle surface parking lot. Habitat has owned and operated out of the site since 2009.
“We have been planning to sell our current headquarters and relocate for some time now. The office space isn’t meeting our staff needs anymore, and there are a number of ongoing maintenance issues in the aging building. Looking ahead, we have a desire for more flexible and dynamic work space to better accommodate our staff, volunteer and community members’ needs,” said Heather Lafferty, CEO and executive director, Habitat for Humanity of Metro Denver.
“With flexible zoning in place, there are many potential uses for this property that could build on Habitat’s legacy and benefit the surrounding community,” said Jeff Wood, senior associate, CBRE.
The site is approved for multiple commercial uses, up to three stories, including multifamily, hospitality and office. The site’s mixed-use zoning advises that the intended use should promote a safe, active, pedestrian-friendly environment that contributes positively to the neighborhood and its character.
“We are hopeful to find a buyer who will incorporate density and affordability into their development plans so that they can fully maximize the use of this land,” added Lafferty.
The location is one half-block from Federal Boulevard, which sees around 37,000 vehicles per day, and one mile from Interstate 25, the main north-south thoroughfare bordering downtown Denver and providing access to the greater Front Range.
“The Highlands neighborhood is distinct in how it blends some of the best of Denver retail with residential living right on the edge of downtown’s central business district,” said Monica Wiley, senior associate, CBRE.
The building currently serves as the home of Habitat’s regional office and administrative operations. Most of the building’s on-site personnel have worked remotely since the onset of the pandemic and will continue to do so in the near term. More information on Habitat’s plans for its future office presence will be available at a later date. The organization anticipates no disruption to its work as a result of the pending sale.
Denver was recently named one of the most favorable development markets for commercial construction in the U.S., according to CBRE’s inaugural U.S. Development Opportunity Index. The report ranked the top 50 U.S. markets based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast. Denver ranked sixth overall and scored well at the individual property level, ranking third for multifamily development and fourth for retail.
