CONFIDENTIAL OFFERING MEMORANDUM DOWNTOWN DENVER LINCOLN ST INFILL REDEVELOPMENT, INVESTMENT OR OWNER/USER OPPORTUNITY 724-736 LINCOLN ST, DENVER, CO INVESTMENT HIGHLIGHTS INVESTMENT OVERVIEW TOM ETHINGTON - LEAD Managing Partner Investment Sales FINANCIAL ANALYSIS 720.966.1624 [email protected] AERIALS BRANDON GAYESKI - LEAD Associate SITE PLAN Investment Sales 720.966.1627 [email protected] CONTENTS MAPS & DEMOS ROBERT EDWARDS LOCATION OVERVIEW Managing Partner Investment Sales 720.966.1630 [email protected] ZACH WRIGHT Director Net Lease Investment Sales 720.966.1628 [email protected] SHAWN DICKMAN Associate TABLE OF OF TABLE Investment Sales 720.828.8310 [email protected] BRANDON WRIGHT Analyst Investment Sales 720.828.7457 [email protected] 400 S COLORADO BLVD,#420, DENVER, CO 8024 BLUEWESTCAPITAL.COM 724-736 LINCOLN ST, DENVER, CO | 3 3 INVESTMENT HIGHLIGHTS • Located on the border of the Golden Triangle and Capitol Hill, two of Denver’s most dynamic neighborhoods with many large apartment complexes recently built, under construction, or planned. • Prime location with excellent visibility. The site sits on the going-to-work side of Lincoln St (47,000+ VPD), the primary northbound artery to downtown. • Dense demographics with explosive growth. Surrounding population of 244,700+ in a 3 mile radius with 7.29% ’20-’25 projected growth. • Affluent area with average annual household incomes in excess of $103,000 within one mile • Development Site. Attractive D-GT zoning, allows for higher density (up to 175 feet) • Existing short-term lease allows for redevelopment or owner/user opportunity • 1 mile south of the Colorado State Capitol Building and downtown Denver • Rare onsite parking (32 spaces) • Surrounded by abundant dining & retail options such as Trader Joe’s, MAX’s Wine Dive, Tacos Tequila Whiskey, Vesper Lounge, Mizuna, Lowdown Brewery, Sushi Cup, Bones, and many more. CoStar Walk Score of 96 (Walker’s Paradise). • Immediate proximity to Denver Health, the regions level 1 trauma center with 7,000+ employees • Proposed uses: Commercial, Medical, Multi-Family, Office, Restaurant, Retail • Denver ranked #2 best place to live in the U.S. by U.S. News & World Repor 724-736 LINCOLN ST, DENVER, CO | 4 4 INVESTMENT OVERVIEW Infill Redevelopment, Investment or Owner/User Opportunity 724-736 LINCOLN STREET PRICE: $2,689,000 CURRENT NOI: $34,431 BUILDING SIZE: 3,895 SF LAND SIZE: 13,515 SF ZONING: D-GT (Maximum building height of 175 ft ) YEAR BUILT: 1968 ONSITE PARKING: 32 Spaces PROPERTY TAXES: $33,939 The subject property is a 3,895 square foot two tenant building. City Bakery currently occupies 1,947 square feet on a month to month lease. The remaining 1,700 square feet is currently vacant. The property sits on a 13,515 square foot lot, and includes the parking lot to the north with 32 individual parking spaces that are rented on a monthly basis to people who work in the surrounding office buildings. The parking lot on the south side of the build- ing with 17 additional parking spaces and a billboard sign are not on the property. The 17 parking spaces on the property to the south are currently rented by the owner for the use of City Bakery and a future tenant that backfills the vacant space. 724-736 LINCOLN ST, DENVER, CO | 5 5 AERIAL DOWNTOWN DENVER SITE CAPITOL HILL LINCOLN ST (37,000 VPD) BROADWAY (37,950 VPD) E 7th AVE CHERRY CREEK 724-736 LINCOLN ST, DENVER, CO | 6 6 AERIAL MILL CREEK FUTURE 197 UNITS 13-STORY - 418 UNIT WASHINGTON APARTMENT BUILDING PARK COUNTRY CLUB BROMWELL TOWERS 177 UNITS 550 UNITS ASPIRE SITE 178 UNITS BROADWAY GABLES SPEER 221 UNITS SPEER BLVD (52,036 VPD) E 7TH AVE LINCOLN ST (37,000 VPD) 724-736 LINCOLN ST, DENVER, CO | 7 7 AERIAL BOULEVARD APARTMENTS VIA APARTMENTS 200 UNITS SITE SPEER BLVD (52,036 VPD) FUTURE 13-STORY - 418 UNIT GOVERNORS LINCOLN ST ST LINCOLN APARTMENT BUILDING PARK 7TH AVE (37,000 VPD) (37,000 ASPIRE BROADWAY BROADWAY 178 UNITS 6TH AVE GABLES SPEER 221 UNITS N 724-736 LINCOLN ST, DENVER, CO | 8 8 SITE PLAN Alley CITY BAKERY VACANT 1,947 SF 1,700 SF Lincoln Street 724-736 LINCOLN ST, DENVER, CO | 9 9 DEMOGRAPHICS & MAP AREA DEMOGRAPHICS TOTAL POPULATIONPOPULATION RESIDENTIAL COUNT AVERAGE HH INCOME 1 mile 44,715 3 mile 248,787 5 mile 559,738 SITE POPULATIONTOTAL HOUSEHOLDSRESIDENTIAL COUNT AVERAGE HH INCOME 1 mile 28,922 3 mile 128,040 5 mile 254,994 POPULATION RESIDENTIAL COUNTAVERAGEAVERAGE HH INCOME INCOME 1 mile $103,606 3 mile $124,853 5 mile $115,327 724-736 LINCOLN ST, DENVER, CO | 10 10 WHY DENVER COLORADO? #2 BEST PLACE TO LIVE IN THE USA – U.S. NEWS & WORLD REPORT 2020 #7 HEALTHIEST CITIES IN AMERICA – WALLETHUB 2019 #4 BEST CITY TO START A BUSINESS – INC. MAGAZINE 2019 #9 TOP TECH TOWNS – COMPTIA 2019 #2 BIGGEST MILLENNIAL BOOMTOWNS IN AMERICA – BIZ JOURNALS 2018 #8 MOST EDUCATED CITIES IN AMERICA – BLOOMBERG 2019 724-736 LINCOLN ST, DENVER, CO | 11 11 LOCATION OVERVIEW # Top Educational Institutions DENVER is the capital and the most populous city of Colorado 1 University of Denver and is located just east of the front range of the Rocky Mountains. Denver is nicknamed the Mile High City because its elevation is 2 University of Colorado Denver exactly one mile above sea level, making it the highest city in the 3 Metropolitan State University of Denver United States. Denver is ranked as a Beta-world city by the Glo- balization and World Cities Research Network. With an estimated 4 Regis University population of 734,134 in 2018. Denver is the 19th-most populous 5 Johnson & Wales University - Denver U.S. city. The Denver MSA had an estimated 2018 population of 2,932,415 and is the most populous US MSA. In 2016, Denver was named the best place to live in the United States by U.S. News & World Report. Denver is home to the Denver International Airport which is 16th busiest airport in the world. Denver serves as a major hub for United Airlines, is the headquarters for Frontier Airlines and is the fastest-growing focus city for Southwest Airlines. Denver is FORTUNE 500 served by five interstates which include I-25, I-225, I-70, and I-76. DENVER COMPANIES Denver is home to four professional sports teams which include the Denver Broncos, Colorado Avalanche, Colorado Rockies and Denver Nuggets. Denver is the largest city within 500 miles which has made it a natural location for storage and distribution of goods and ser- vices to the Mountain states. Southwestern states as well as Western states. Denver also has a thriving tourism industry due to its proximity to the Rocky Mountains and eleven world-class ski resorts. 724-736 LINCOLN ST, DENVER, CO | 12 12 LOCATION OVERVIEW ■ RiNo (River North Art District) is Denver’s creative hub combining the city’s most progressive exhibition spaces with the city’s coolest live/work spac- es. RiNo is “Where Art Is Made.” ■ Five Points is one of Denver’s oldest and most diverse neighborhoods RiNo offering a fusion of old and new with innovative coffeehouses and craft Highlands breweries, museums, soul food and barbecue institutions. ■ LoDo is the lower downtown area, the oldest and original settlement of the city of Denver. It is a mixed-use historic district, known for its nightlife. ■ Auraria is home to the Auraria Campus, with 3 institutions of higher learn- ing: University of Colorado Denver, Metropolitan State University of Den- LoDo ver, and Community College of Denver. Five Points ■ ▲Lincoln Park is a very lively and diverse neighborhood home to the Art District on Santa Fe. This area consists of many art galleries, street murals City Park and unique restaurants and coffe shops. Auraria ■ Baker▲ , one of Denver’s hippest neighborhoods is known for Broadway, Uptown a busy thoroughfare lined with vintage fashion boutiques, eclectic Asian restaurants, casual brewpubs and late-night hangouts for live music and dancing. Green spaces include Phil Milstein Park, with riverside trails and picnic tables. Civic Center ■ Civic Center, often referred to as the “Golden Triangle” is dominated Congress Park by government buildings, including the Colorado State Capitol with its Lincoln Park Capitol Hill gold-plated dome. Dotted with fountains, statues and a Greek amphithe- ater, Civic Center Park draws crowds in summer for festivals, concerts and popular food trucks. A huge collection of international works fills the Den- ver Art Museum, while the United States Mint runs coin-making tours. SITE ■ Capitol Hill, dotted with stately old mansions, Capitol Hill is a residential district with a bohemian vibe. It is home to the gold-domed Colorado State Cherry Creek Capitol. Offbeat shops with a punk aesthetic line 13th Avenue, and hip bars Speer and late-night coffeehouses keep the area lively after dark. Country Club ■ Speer is one of the best places to live in Colorado. Largely residential, the neighborhood is a hot spot for those who want access to downtown living, Baker without the noise of city life. Quiet streets attract young professionals, and those looking to embark on new careers. Speer offers a lot of bars, restau- rants, coffee shops, and parks. Wash Park DISCLAIMER This confidential Offering Memorandum, has been prepared by Blue Memorandum in not intended to be a promise or representation as to the West Capital, LLC (“Blue West Capital”) for use by a limited number of future performance of the Property. Although the information contained qualified parties. This Offering Memorandum has been provided to you at herein is believed to be accurate, Blue West Capital and the Property your request based upon your assurances that you are a knowledgeable Owner disclaim any responsibility or liability for any inaccuracies.