285 E 3rd St

Description

Unique opportunity to acquire or lease this 24,000 SF entertainment building constructed in 2018 as a state-of-the-art motion picture theatre, with full-service restaurant. Its contemporary design, high-quality finishes, and adaptable infrastructure make it well-positioned for a variety of future uses ranging from continued entertainment operations to adaptive reuse as an event venue, retail showroom, educational facility or mixed-use redevelopment. The property is offered at a significant discount to replacement cost in an irreplaceable location within a high profile mixed use development (The Foundry) with access to public parking. This purchase opportunity includes the leasehold interest of the adjacent office building at 320 N. Cleveland Avenue leased from the City of Loveland, with no payment obligations through 04/2027 with two five year options through 04/2037. This 6,150 RSF brick building is currently subleased to Level Engineering, LLC for $14.75/SF NNN through 05/2026, creating a unique opportunity to utilize the building upon sublease termination or offset operating cost with sublease income. The theatre building sits on 0.65 acres in the heart of Downtown Loveland, one block from the vibrant 4th Street corridor, which is undergoing complete renovation for walk-ability. The property benefits from strong pedestrian activity, outdoor entertainment in the Foundry Commons, high visibility, and synergy with the city's growing arts and entertainment scene. Key interior features include seven fully built auditoriums with 551 luxury recliner seats, a full-service bar, large commercial kitchen, concession areas, and extensive back-of-house support spaces such as walk-in coolers, freezer, and ample storage. The facility's layout provides flexibility for live performances, private events, or conversion to experiential retail concepts or education operations.