5551 Allison St 8150 Reno Dr & 5480 Balsam St 06172021 V2
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OFFERING MEMORANDUM 5551 ALLISON ST, 8150 RENO DR & 5480 BALSAM ST ARVADA, CO 80007 TRAVIS HODGE ANTHONY BOBAY TRINA BURTON Senior Advisor Investment Sales Advisor Broker Associate Sierra Vista Realty, LLC [email protected] [email protected] [email protected] 404.259.8171 720.297.6667 720.209.9002 | 720.772.7171 TABLE OF CONTENTS PROPERTY OVERVIEW LOCATION OVERVIEW APPENDIX PROPERTY OVERVIEW PROPERTY HIGHLIGHTS Located in Qualified Opportunity Zone with Medium-High density residential zoning (24 units/acre). Less than 1/2 mile to Olde Town Arvada shops, restaurants, and commuter rail station. Sits on top of hill with incredible views facing south and west. Exempted from School Land Dedication/Fee-In-Lieu due to proximity to rail. 80002 zip code home values: 16.3% increase in the past year; 8.0% increase forecasted over next 12 months. SITE OVERVIEW SITE OVERVIEW ADDRESS 5551 ALLISON ST, 8150 RENO DR & 5480 BALSAM ST CITY/STATE/ZIP CODE ARVADA, CO 80002 PARCEL ID 3914206032, 3914206031, 3914206030 COUNTY JEFFERSON ZONING MUNICIPALITY CITY OF ARVADA ZONING R24 PARCEL SIZE (SF) 91,012 SF PARCEL SIZE (AC): 2.09 ACRES MAX HEIGHT (FT): 35' ENVIRONMENTAL CONDITION: NO KNOWN CONDITIONS FEMA FLOOD ZONE DESIGNATION: NONE MILL LEVY: 96.499 LIST PRICE: TBD BY MARKET LOCATION OVERVIEW NEIGHBORHOOD DESCRIPTION The citizens of Arvada, CO have a great deal of pride in their city. Located just northwest of Denver, Arvada is a community unlike many others. Arvada consistently competes with the larger metropolitan areas in the areas of business and commerce but retains a small-town charm that other suburbs can’t replicate. With such great assets as the Arvada Center, the Apex Center and a historic shopping district, Olde Town, Arvada is thriving. A highly educated workforce, low crime rate and excellent quality of life have all contributed to the popularity of Colorado’s 8th largest city. The 80002 zip code is home to some of Arvada's hottest neighborhoods such as South Central, Historic Olde Town, and New Town. Townhomes in these neighborhoods are in high demand, with new units starting in the upper-$500k's up to the low-$700k's. Bidding wars have become commonplace as young couples and first-time homebuyers are pouring into neighborhoods within walking/biking distance of Olde Town. The areas robust growth is showing no signs of slowing down, with Zillow projecting an 8% increase in home values over the next year. AREA STREET MAP 5551 ALLISON ST, 8150 RENO DR & 5480 BALSAM ST Reno Dr Allison St Balsam St Carr St AREA MAP Standley Lake 80TH AVE WADSWORTH AVE Northwest Ralston Arvada Valley 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 5551 ALLISON ST, 8150 RENO DR KIPLING ST Wheat Ridge & 5480 BALSAM ST Ward Station WADSWORTH AVE Downtown Denver 11.7 miles, 18-minute drive REGIONAL MAP Broomfield Westminster 5551 ALLISON ST, 81508520 RENO W DR & 5480 BALSAM52ND ST AVE Wheat Ridge Denver Lakewood NEIGHBORHOOD MAP OLDE TOWN ARVADA DENVER BEER CO, ELEVATED SELTZER, 12 VOLT TAVERN, BREAD WINNERS, FLIGHTS WINE, FUZZY'S TACO, CHEAPSKATES SPORTS BAR, HOMEGROWN TAP APEX FIELD & DOUGH, NEW IMAGE HOUSE BREWING, SCHOOL HOUSE KITCHEN, STEUBEN'S OLDE TOWN ARVADA STATION LAWRENCE TERRACE PARK ELEMENTARY DOG PARK SCHOOL RED ROCKS COMMUNITY COLLEGE ARVADA ARVADA CAMPUS CENTERPLACE 5551 ALLISON ST,8150 RENO DR SHOPPING & 5480 BALSAM ST CENTER WADSWORTH BLVD WADSWORTH ARVADA RIDGE STATION ARVADA RIDGE MARKET PLACE GRIFFITH FOUR ACRE STATION PARK LAKE PARK STEELE SCHOOL FOR ARVADA MARKET PLACE EARLY LEARNING KIPLING PKWY FAITH CHRISTIAN HIGH SCHOOL APPENDIX DEMOGRAPHICS POPULATION 1m 3m 5m Population (1990) 12,505 102,654 280,277 Population (2000) 13,931 109,887 314,378 Population (2010) 14,180 107,174 299,899 Population (Current) 15,698 119,020 339,311 Population (5 Yr. Forecast) 15,988 121,677 348,509 Percent Growth (CurrentYr./Previous Yr.) 10.30% 11.23% 13.69% Percent Forecast (5 Yr.Forecast/Current Yr.) 1.86% 2.22% 2.73% INCOME 1m 3m 5m Median Household Income $58,701 $72,976 $74,224 Total Household Income $557,644,725 $4,620,472,250 $13,380,271,110 Average Household Income $75,124 $88,418 $92,126 Per Capita Income $35,523 $38,821 $39,434 Avg Family Income $96,759 $109,838 $112,268 Family Income, Per Capita $32,949 $37,109 $37,884 HOUSEHOLD 1m 3m 5m Households (Current) 7,423 52,257 145,239 Families 3,644 29,598 82,727 Average Size of Household 2.19 2.30 2.34 Median Age of Householder 48 54 51 Median Value OwnerOccupied $186,887 $225,472 $234,723 Median Rent $777 $919 $941 Median Vehicles PerHousehold 2.0 2.0 2.0 Housing Units 7,762 54,338 152,115 Owner Occupied Units 3,199 31,509 84,356 Renter Occupied Units 4,224 20,748 60,883 Vacant Units 339 2,081 6,876 EMPLOYMENT KEY EMPLOYERS # of Employees Business Activity Address City Coors Tek Inc 1000 - 4999 Ceramic Products-Industrial (Mfrs) 16000 Table Mountain Pkwy Golden Lutheran Medical Ctr 1000 - 4999 Hospitals 8300 W 38th Ave Wheat Ridge Personal Assistance Svc Of Co 1000 - 4999 Home Health Service 9197 W 6th Ave Lakewood Public Safety Dept 1000 - 4999 Government Offices-State 700 Kipling St Lakewood Terumo Bct Inc 1000 - 4999 Physicians & Surgeons Equip & Supls-Mfrs 10811 W Collins Ave Lakewood Arvada City Government 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada City Of Arvada 500 - 999 Government Offices-City/Village & Twp 8101 Ralston Rd Arvada Firstbank Holding Co 500 - 999 Holding Companies (Bank) 12345 W Colfax Ave Lakewood Jefferson Center-Mental Health 500 - 999 Mental Health Services 9101 Harlan St Westminster Livanova 500 - 999 Health Equipment & Supls-Manufacturers 14401 W 65th Way Arvada Masters Gaming 500 - 999 Casinos 5475 Harlan St Arvada Motor Vehicle Div 500 - 999 Department Of Motor Vehicles 1881 Pierce St Lakewood Regis University 500 - 999 Schools-Universities & Colleges Academic 3333 Regis Blvd Denver Sunshine Building Mntnc Inc 500 - 999 Janitor Service 7717 W 6th Ave Lakewood American Baptist Home 250 - 499 Nursing & Convalescent Homes 4800 Tabor St Wheat Ridge Apex Park & Recreation Dist 250 - 499 Recreation Centers 13150 W 72nd Ave Arvada Ball Metal Beverage Contnr Crp 250 - 499 Cans (Whls) 4525 Indiana St Golden City Of Wheat Ridge Colorado 250 - 499 Government Offices-City/Village & Twp 7500 W 29th Ave Wheat Ridge Colorado Agricultural Devmnt 250 - 499 Farming Service 700 Kipling St Lakewood Columbine Library-Jefferson 250 - 499 Library Research & Service 5843 W 25th Ave Denver Faith Bible Chapel 250 - 499 Churches 6210 Ward Rd Arvada Ici LLC 250 - 499 Dry Wall Contractors 6275 Simms St Arvada Lutheran Medical Ctr-Emergenc 250 - 499 Clinics 8300 W 38th Ave Wheat Ridge Sundyne 250 - 499 Pumps-Manufacturers 14845 W 64th Ave Arvada Walmart Garden Center 250 - 499 Garden Centers 9400 Ralston Rd Arvada Wanco Inc 250 - 499 Traffic Signs Signals & Equip-Whls 5870 Tennyson St Arvada Wheat Ridge Regional Ctr 250 - 499 Government Offices-State 10285 Ridge Rd Wheat Ridge 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 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.