OFFERING MEMORANDUM PARADISE HILL 15705 W 82ND AVE ARVADA, CO 80007
TRAVIS HODGE ANTHONY BOBAY Senior Advisor Investment Sales Advisor
[email protected] [email protected] 404.259.8171 720.297.6667 TABLE OF CONTENTS
PROPERTY OVERVIEW LOCATION OVERVIEW APPENDIX PROPERTY OVERVIEW PROPERTY DETAILS 15705 W 82ND AVE
SITE DETAILS ALLOWABLE USES
Address: 15705 W 82nd Ave 1 Single Family Residential
City/State/Zip Code: ARVADA, CO 80007 2 Group Living Facility
Parcel ID: 20-253-00-002 3 Daycare
County: Jefferson County 4 Kennel
Zoning Municipality: Jefferson County 5 Greenhouse & Nursery
Zoning: A-1 6 General Farming
Parcel Size: 235,485 SF (5.4 AC)
Existing Building SF: 1,213 SF
Existing Use: Single Family Home
The property is zoned A-1 (Agriculture-One) within Unincorporated Jefferson County. The northern boundary of the property abuts Incorporated City of Arvada allowing developers to choose whether they want to work with Jefferson County or annex the land into City of Arvada. City of Arvada zoning within 1 mile of the property ranges from 1.2 to 24 dwelling units per acre. DEVELOPMENT HIGHLIGHTS
Located Within Rapidly Growing West Arvada
Opportunity to Annex into City of Arvada
Potential to Rezone for Higher Density Surrounded by Strong Demographics
Proximity to Great Schools LOCATION OVERVIEW NEIGHBORHOOD DESCRIPTION
Once considered a commuter town to hubs like Denver and Boulder, Arvada has blossomed into one of Metro Denver’s most popular communities. The city features a lively historic old town area with multiple shops, breweries and restaurants, access to the new Gold Line commuter rail, and 125 miles of hiking, biking and horseback riding trails throughout its vast parks and open space system - a true Colorado lifestyle that continues to attract new residents.
15705 W 82nd Ave lies within the West Arvada neighborhood, recently ranked No. 4 on Redfin’s hottest neighborhoods to watch list for 2020. The site features incredible sweeping views of the foothills and Downtown Denver, and is surrounded by incredibly strong demographics and an abundance of new retail and commercial development. AREA STREET MAP
COAL CREEK CANYON RD
15705 W 82ND AVE
W. 82ND AVE. AREA MAP
80TH AVE
15705 W 82ND AVE WADSWORTH AVE 15705 W 82ND AVE
Arvada 64TH AVE
Old Towne Arvada Harold Luts Sports Complex Old Towne Arvada Station
Arvada Ridge Station WARD RD 52ND AVE 52ND AVE
INDEPENDENCE ST
KIPLING ST Wheat Ridge Ward Station WADSWORTH AVE
Downtown Denver 11.7 miles, 18-minute drive NEIGHBORHOOD MAP
THREE CREEKS ELEMENTARY SCHOOL
FREEDOM STREET FOOD HALL WELTON RESERVOIR COAL CREEK CANYON RD
STANDLEY LAKE
15705 2 82ND AVE INDIANA ST
RALSTON VALLEY PATTRIDGE LEYDEN ROCK HIGH SCHOOL OPEN SPACE OPEN SPACE LEYDEN ROCK OPEN SPACE PEARCE PARK OPEN SPACE 93 BLUNN RESERVOIR
APEX CENTER
WEST WOODS GOLF COURSE
W 64TH AVE PHOTOS 15705 W 82ND AVE APPENDIX DEMOGRAPHICS
POPULATION 1 Mile 3 Mile 5 Mile
2020 Total Population: 1,656 38,792 109,922
2025 Population: 2,025 41,587 114,610
Pop Growth 2020-2025: 22.28% 7.21% 4.26%
Average Age: 47 40 41
HOUSEHOLDS 1 Mile 3 Mile 5 Mile
2020 Total Households: 647 14,415 43,653
HH Growth 2020-2025: 13.54% 7.27% 4.99% 1 MILE Median Household Inc: $162,062 $123,476 $94,539
Avg Household Size: 2.56 2.74 2.58 3 MILE 2020 Avg HH Vehicles: 3 2 2
5 MILE HOUSING 1 Mile 3 Mile 5 Mile
Median Home Value: $719,377 $573,328 $464,431
Median Year Built: 2010 1998 1984 EMPLOYMENT
# OF # OF KEY EMPLOYERS EMPLOYEES DISTANCE BUSINESS ACTIVITIES IN THE AREA EMPLOYERS
Coors Tek Inc 1,000 - 4,999 4.3 mi Automobile Dealers-New Cars 1
Sorin Group USA Inc 500 - 999 2.2 mi Cans (Whls) 1
Apex Park & Recreation Dist 250 - 499 2.1 mi Ceramic Products-Industrial (Mfrs) 1
Sundyne 250 - 499 2.2 mi Churches 1
Sorin Group 250 - 499 2.2 mi Department Stores 1
Faith Bible Chapel 250 - 499 3.2 mi Dry Wall Contractors 1
Ici LLC 250 - 499 3.4 mi Garden Centers 1
Ball Metal Beverage Contnr Crp 250 - 499 4.7 mi Government Offices-State 1
American Baptist Home 250 - 499 4.8 mi Health Equipment & Supls-Manufacturers 1
Wheat Ridge Regional Ctr 250 - 499 4.9 mi Nursing & Convalescent Homes 1
Walmart Garden Center 250 - 499 5.0 mi Physicians & Surgeons Equip & Supls-Mfrs 1
Walmart Supercenter 250 - 499 5.0 mi Pumps-Manufacturers 1
Medved Autoplex 250 - 499 5.0 mi Recreation Centers 1 CITY OF DENVER NOTABLE RANKINGS #2 BEST PLACES TO LIVE (U.S. NEWS & WORLD REPORT 2019)
#1 IN ECONOMIC 4th BEST PLACE IN TOP 10 PLACES & JOB GROWTH AMERICA FOR IN THE U.S. TO TRAVEL (AREA DEVELOPMENT, 2015) BUSINESS & CAREERS (LONELY PLANET, 2016) (FORBES, 2019)
#1 IN ECONOMIC 4TH BEST CITY 6TH FASTEST RANKING FOR BIKE RIDING (USNEWS.COM, 2019) GROWING METRO IN THE U.S. AREA IN THE U.S. (WALK SCORE, 2015) (FORBES, 2016)
3RD HEALTHIEST CITY IN THE NATION #1 IN THE NATION FOR (FORBES, 2016) LARGEST INCREASE IN RESIDENTS WITH COLLEGE DEGREES 7TH BEST STATE (U.S. CENSUS BUREAU, 2014) IN WHICH TO MAKE A LIVING 3RD BEST CITY FOR (FORBES, 2016) COLLEGE GRADS (RENT.COM, 2015) DENVER METRO
Located on the front range of the Rocky Mountains, the Denver Metro is a thriving urban epicenter famous for its breathtaking views, world-class dining, champion sports teams, exhilarating recreation, and eclectic arts and entertainment. It’s no wonder this metropolis is one of the biggest in the nation! ATTRACTIONS SPORTS
Denver Art Museum Basketball: Denver Nuggets Denver Museum of Nature and Science Hockey: Colorado Avalanche Denver Zoo Football: Denver Broncos Denver Aquarium Baseball: Colorado Rockies Six-Flags Elitch Gardens Soccer: Colorado Rapids Hyland Hills Water World Denver Aquarium DENVER GROWTH
Ranked as the top place to live in the U.S. by U.S. News & World Report, the city of Denver is home to over 705,439 residents (as of May 2019). An estimated 2.9 million people live in Denver Metro as a whole, with more people moving to the area each year, as this number is expected to grow by 12.6 percent over the next five years, compared to 3.7 percent nationally. Currently 100+ pe pleare immigrating to the city each day. The Denver Metro accounts for over half of the population in the entire state of Colorado, which is home to an estimated 5.5 million people.
CONSTRUCTION As one of the fastest-growing metros in the nation, Denver is thriving with new construction. This new construction will help accommodate the population growth throughout the metro. Some current projects include:
17th & Peal Apartments, a 315-unit apartment with 9,000 sq. ft. of retail.
Alexan 20th St Station, a 358-unit apartment with street level retail. Block 162, a full block project that included a 680,000 sq. ft. office tower and separate tower hotel.
Tabor Center Tower Two, a 33 story 700,000 sq. ft. office tower would be the largest development in Denver since 1985.
Market Station, Lodo, comprised of nearly a full block off the 16th St Mall in Downtown Denver, the development consists of 80,000 SF retail space, 95,000 SF office space & 225 apartments.
McGregor Square, Lodo, a project located across the street from Coors Field, it features 3 connected structures - an 11-story office building, a 13 story condominium and hotel buildings surrounding a center courtyard. Lower floors will feature retail tenants. EMPLOYERS IN THE DENVER METRO
The Denver metro is a hub for various industries, including aviation, health, business, finance, and technology. Outside of city, state, and school services, major employers in the Denver metro area include:
Denver International Airport Kaiser Permanente Lockheed Martin Liberty Tax Service Health ONE Corporation Western Union Centura Health University of Colorado SCL Health Systems Children’s Hospital Comcast Wells Fargo CenturyLink
In 2017, Amazon opened up a 1 million sq. ft. fulfillment center in Aurora, creating nearly 1,000 full-time jobs. Google is building a $131 million, four-acre, state-of-the art facility in Boulder, potentially bringing more jobs to the area.
Many companies choose to relocate to or expand in the Denver Metro, especially tech and startup companies.
Between 2007-2015, approximately 9,000 companies chose to relocate from California to Denver. These employers are attracted to the innovative culture, economic environment, exceptional talent, and deep sense of social responsibility that characterizes the Denver Metro. Forbes ranks Denver as #1 in the nation for business and careers, and Area Development ranks Denver as #1 in the nation for economic and job growth.
Denver metro is home to many fast-growing startups, with 113 local companies making the Inc. 5000 list of the nation’s fastest-growing private companies for the year 2017. OLDE TOWN ARVADA
Olde Town Arvada is located just eight miles northwest of Downtown Denver, now with a light rail stop on the G line. Olde Town is Arvada’s downtown district featuring a mix of historic charm and modern-day amenities.
This vibrant shopping district features more than 100 one-of-a-kind shops, boutiques, galleries, events, restaurants, breweries, and a winery. Olde Town is listed on the National Register of Historic Places.
Olde Town Arvada also hosts events that the entire family can enjoy. Annual events include a chocolate fair in February, ladies’ day in May, farmers markets June through September, Friday night movies in August, harvest and Halloween celebrations in October, and holiday festivals in December. -
Other events include:
Tartan Festival Easter Egg Hunt Blues & BBQ Festival Sustain Arvada Festival Harvest Festival. BOULDER
Boulder sits 5,430 feet above sea level and is located where the plains meet the Rocky Mountains, just 30 minutes northwest of Denver. The town was founded in 1859 by explorers seeking the riches of gold. Today, Boulder is home to over 103,000 residents, including about 30,000 students who are enrolled at the University of Colorado at Boulder.
The median home price in Boulder is $775,000 at $550 per sq. ft. compared to Denver with a median home price of $470,000 at $345 per sq. ft. The Flatiron Flyer is RTD's brand new bus rapid transit service between Denver, Westminster, Broomfield, Louisville, Superior, and Boulder. With 300 plus days of sunshine per year and moderate weather, Boulder is a great place to work, play, or live.
Today, visitors can enjoy the benefits of a community created by residents that embrace a healthy, culturally enriched lifestyle. Boulder offers a variety of experiences for every type of traveler, including outdoor enthusiasts, intellectuals, and those seeking a relaxing getaway. Activities including strolling, hiking or biking through 300 miles of trails and 45,000 acres of open space, dining at outdoor cafés and restaurants on Pearl Street, visiting national laboratories, and touring the Celestial Seasonings tea factory and the Boulder Dushanbe Teahouse. Boulder is also the site of the Google campus, a $131 million, four-acre, state-of-the art facility.
*Some information sourced from: https://www.bouldercoloradousa.com/about-boulder/ DENVER INTERNATIONAL AIRPORT (DIA) Denver International Airport (DEN), also known as DIA, opened to the public on February 28, 1995 and at 34,000 acres, remains the largest and newest commercial airport in the United States, and the 2nd largest airport in the world by size and the 20th busiest airport in the world. It’s known around the world for its striking tented roof structure and technologically advanced operations. Over the past twenty years, DIA has established itself as the primary employer and economic driver in the Denver metro, supporting nearly 190,000 jobs and generating more than $26 billion in annual revenue. Served a record setting 64.5 Million passengers in 2018.
The airport serves over 170 destinations including 20 international cities in nine countries.
DIA is just 30 minutes from Union Station via the East Rail line. DIA has room to double its current capacity to remain competitive in the growing global aviation marketplace. DIA broke ground in May of 2018 on a $2.0 billion gate expansion project. The project will add 39 gates across all three concourses in the next four years, bringing the total to 150.
The expansion will utilize the airport’s original “telescoping” design by expanding astward and westward at the ends. The expansion is expected to be completed by the end of 2022.
DIA is among the first airports in North America to secure internationally recognized accreditation for measuring and reducing carbon emissions. LIGHT RAIL
The Regional Transportation District (RTD) operates 365 days a year to quickly connect travelers to their destination. As part of RTD, the 58-mile rail system features nine rail lines servicing 62 stations along the Denver metro’s North, East, Southeast, Southwest, and West rail corridors.
Popular destinations include:
Denver International Airport (DIA) Theatre District Convention Center Sports Authority Field at Mile High Pepsi Center 16th Street Mall Park Meadows Mall.
RTD’s rail system has transformed people’s commutes and the communities they live in. The 23-mile stretch from Downtown Denver to DIA is now just a 30-minute ride via light rail. The light rail is also attributed with revitalizing neighborhoods across the Denver metro, including Five Points and West Colfax. An average of 64,000 people utilize the light rail each day, making it eighth-largest system in the country, even though Denver is 21st in the nation in terms of population. CAPSTONE TEAM PARADISE HILL 15705 W 82ND AVE ARVADA, CO 80007
TRAVIS HODGE ANTHONY BOBAY Senior Advisor Investment Sales Advisor [email protected] [email protected] 404.259.8171 720.297.6667
EMILY HAMPSON KIM HOFF Transaction Coordinator Marketing Manager [email protected] [email protected] 719.776.0916 612.669.2068 CONFIDENTIALITY DISCLAIMER
Capstone Apartment Partners has been engaged as the exclusive listing Broker representative of the Owner for the sale of this property. No contact shall be made by any prospective purchaser or agents to the Owner, its executives, staff, personnel, tenants, or related parties.
This Investment Offering Memorandum is a confidential solicitation of interest, and the information provided herein is provided for the sole purpose of considering the purchase of the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property or to terminate discussions with any entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Memorandum or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms acceptable to the Owner. By receipt of this Offering Memorandum, prospective purchaser will be deemed to have acknowledged the foregoing and agrees to release the Owner from any and all liability with respect hereto. The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the purchaser shall be fully and solely responsible. All information contained herein is confidential in nature, and recipient agrees not to photocopy, duplicate, forward, distribute, or solicit third party interest without written permission and consent from Owner or Capstone Apartment Partners.
Neither Capstone Apartment Partners nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise or representation as to the future performance of the Property.
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