Golden Triangle parking lots trade for $4.5M – double their 2012 price

Zuni bought the property in 2012 for $2 million. Photo by Burl Rolett.

Zuni bought the property in 2012 for $2 million. Photo by Burl Rolett.

Another surface lot in the booming Golden Triangle has changed hands.

Three entities registered to Denver businessman Panayes Dikeou bought 0.60 acres of land at 12th Avenue and Cherokee Street in the Golden Triangle for $4.54 million.

The acquisition adds to a larger stretch of vacant land the Dikeou family owns north of the site that stretches to 13th Avenue along Cherokee Street.

Most of the property is vacant, surface parking lots aside from a small retail building at the corner of 12th Avenue and Cherokee Street. That building houses restaurant Dulce Vida.

The seller in the deal was Zuni Capital Management, LLC. That group bought the property for $2.08 million in September 2012, according to city records, and more than doubled its money in a nearly four-year hold.

Dikeou’s most recent acquisition is currently shaded by one of the biggest developments in the Golden Triangle pipeline. Eviva Cherokee, a 270-unit apartment tower currently under construction, sits across Cherokee Street.

Zuni bought the property in 2012 for $2 million. Photo by Burl Rolett.

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