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.