A vacant church along South Federal Boulevard has sold for more than double the price it fetched 1 1/2 years ago, and is likely to be demolished.
BTS Expo Hum LLC purchased 700-730 S. Federal Blvd. last week for $1.4 million, according to county records. The entity lists a mailing address that is care of Greenwood Village-based Cadence Capital.
Seller Pawn Stars LLC paid $655,000 for the property in December 2017, netting a 113 percent gain.
The church was built in 1957, according to city records. It was used through late 2017 by Denver Grace Brethren Church, which opted to sell it to Pawn Stars LCC after years of dwindling membership.
Cadence Capital submitted a site-development plan to the city earlier this year, proposing to demolish the church and build a one-story, 6,650-square-foot medical office building on the 0.75-acre property. Online records show the city received a request for a demolition permit this month.
Vectra Bank provided financing for the acquisition and planned construction, records show.