2490 w main street...no new req’d building addition: 50% of new req’d _historic review setbacks:...
TRANSCRIPT
Confidential Offering Memorandum
2490 W MAIN STREETLITTLETON, CO 80120
Table of Contents
2490 W Main StreetLittleton, CO 80120
Executive Summary
Location Overview
Financial Analysis
Sales Comparables
Josh [email protected]
Lindsey SantaulariaSenior Transaction [email protected]
Connor [email protected]
Barton ThompsonAssociate [email protected]
Bobby RukavinaAssociate [email protected]
Meaghan JenningsTransaction [email protected]
One Broadway, Suite A300Denver, Colorado 80203303.962.9555www.PinnacleREA.com
3
EXECUTIVE SUMMARY
4
2490 W Main StreetLittleton, CO 80120
Units: 7
Year Built: 1901
List Price: $1,595,000
Price/Unit: $227,857
Price/SF: $358.67
Zoning: CA
Building Type: Brick
Building Size: 4,447
Lot Size: 0.08 Acres
Roof: Flat
Heating: Electric/Forced Air
Parking: 4 Off-Street Parking Spaces
Proforma CAP Rate: 4.68%
Property Features
• Highly Desirable Main Street Location in Downtown
Littleton
• Opportunity Exists to Reposition Asset into Mixed-
Use Apartment Project
• Zoned CA
• Rooftop Patio with Third Level Build-Out Permitted
• Substantially Updated in 2011 Including: Newer Roof,
Windows and Sunroofs
• Walk to Light Rail Station & Arapahoe Community
College
Property Overview
5
Property Overview
6
awBUILDING REMODELMAIN STREET LITTLETON
_SITE STATISTICS
Property Area: 3,300 SF
Zone District: CA - Central Area
Use: Business Commercial & Residential
Gross Floor Area: 2,050 SF per FLOOR
Height: 2 Stories _ZONING REVIEW
HEIGHT: 3 Stories max. allowed 40’ Feet max. allowed
SETBACKS: None required
PARKING: B: 1 / 200 sf 10 req’d R: 2 / Unit 2 reg’d existing conditions: no new req’d
building addition: 50% of new req’d
_HISTORIC REVIEW
SETBACKS: NEW / ADDITION: front: 10 ft side: t.b.d.
GENERAL: guidelines to be discussed
_ V
ICIN
ITY
MA
P
MA
IN S
TRE
ET
_3_N
_ANTICIPATED REVIEW PROCESS
Community Planning: CONCEPT MEETING Participants: Planning, Historic, Building Dept, Public Works, Fire Dept
Building Remodel
S NEVADA STREET
MA
IN S
TREE
T
_VIC
INIT
Y M
APN
7
Elevations
awBUILDING REMODELMAIN STREET LITTLETON
_ELEVATIONS
_7_
SIDE ELEVATION FRONT ELEVATION
8
Property Floorplans
First Floor
Second Floor
First Floor Retail
Second FloorOffice/Apt
9
awBUILDING REMODELMAIN STREET LITTLETON
_SURVEY & EXISTING BUILDING
_4_
Survey & Existing Building
10
FINANCIAL ANALYSIS
11
Income & Expenses Analysis
UNIT MIX AND AVERAGE RENT SCHEDULE
UNIT TYPE No. ofUnits
Approx. SF
Pro Forma Rent
MonthlyIncome
Pro Forma Rent/SF
Retail 1 2,000 $5,000 $5,000 $2.50Studio 5 250 $750 $3,750 $3.001 Bed 1 Bath 1 500 $1,500 $1,500 $3.00TOTAL 7 3,750 $10,250
INCOME PRO FORMAGross Potential Rent $123,000
Gross Potential Income $113,000Vacancy/Collection Loss (Estimated) ($6,150)EFFECTIVE GROSS INCOME $116,850
EXPENSES PRO FORMATaxes (Actual - 2018) $19,365Insurance (Actual - 2017) $3,769Utilities (Actual - 2017) $5,370Maint. & Repairs (Estimated: $650/Unit/Yr) $4,550Management Fee (Estimated: 7%) $8,180Administrative (Estimated: $150/Unit/Yr) $1,050TOTAL EXPENSES $42,284Expenses per Unit $6,041Expenses per SF $11.28% OF EGI 36.2%NET OPERATING INCOME $74,567
12
Pricing Analysis
Price: $1,595,000 CASH FLOW INDICATORS
Price/Unit: $227,857 Net Operating Income $74,567
Price/SF: $358.67 Debt Service ($74,882)
Proforma CAP Rate: 4.68% Net Cash Flow -0.08% ($316)
Principal Reduction $18,459
Total Return 4.55% $18,143
Loan Amount: $1,196,250
Down Payment: $398,750
Interest: 4.75% CAP Rate 4.68%
Amortization: 30 Years Price Per Unit $227,857
Monthly Payment: ($6,240) Price Per Foot $358.67
Proposed Financing
Pro FormaInvestment Summary
Value Indicators
13
SALES COMPARABLES
14
Comparable Sales
Del Mar
Old B
righto
n Rd.
Crowfoot Vall
ey Rd.
66 66
52
52
7 7
119
36
287
287
287
Happy Canyo
n
32nd Ave.
DenverFederalCenter
70
70
70
25
25
25
25
25
25
225
225
25
70
270
76
76
76
70
285
287
287
6
85
85
85
85
85
6
36
36
58
72
44
2
52nd Ave. 52nd Ave.
44th Ave.
38th Ave.
32nd Ave. 32nd Ave.
26th Ave. 26th Ave.
20th Ave.
1st Ave.
10th Ave.
Alameda Ave.
Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave.
Florida Ave.
Morriso
n Rd.
Garri
son S
t.Es
tes S
t.
Pier
ce S
t.
Harla
n St.
Kipli
ng S
t.
Wad
swor
th Bl
vd.
Sher
idan B
lvd.
Sher
idan B
lvd.
Fede
ral B
lvd.
Fede
ral B
lvd.
Zuni
St.
Tejon
St.
Lowe
ll Blvd
.Irv
ing S
t.
Pier
ce S
t.
Jewell Ave.
Quincy Ave.
Belleview Ave.
Bowles Ave.
Coal Mine Rd.
Ken Caryl Ave.
Chatfield Ave.
Ute Ave.
Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave.
Ridge Rd.
McInt
yre S
t.
Indian
a St.
Kipli
ng S
t.Ki
pling
St.
Simm
s St.
Wad
swor
th Bl
vd.
Wad
swor
th Bl
vd.
Youn
gfield
Lama
rMa
rshall
Old W
adsw
orth
Blvd
.
Sher
idan
Blvd
.
Fede
ral B
lvd.
Lowe
ll Blvd
.
Simm
s St.
Alkia
re S
t.
Simm
s St.
Main
St.
Quac
ker S
t.
War
d R
d.
72nd Ave. 72nd Ave.
Carr
St.
80th Ave.82nd Ave.
88th Ave. 88th Ave.
84th Ave.
88th Ave.
100th Ave. 100th Ave.
108th Ave.
120th Ave. 120th Ave. 120th Ave.
128th Ave. 128th Ave.
144th Ave. 144th Ave.
152nd Ave.
136th Ave. 136th Ave.
132nd Ave.
160th Ave. 160th Ave.Bridge St.
Rd. 2
Bromley Ln.
168th Ave.
Rd. 4
Rd. 6
Rd. 8
Rd. 10
Rd. 4
Rd. 6
Rd. 8
Rd. 10
Rd. 6
Rd. 8
Rd. 10
Rd. 12
Rd. 3
Rd. 5
Rd.7
Rd. 9
Rd. 1
1
Rd. 1
3
Rd. 1
5
Rd. 1
7
Rd. 1
9
Rd. 2
1
Rd. 3
7
Rd. 3
1
Rd. 2
7Rd. 2
5
Rd. 12
Rd. 14
Rd. 16
Rd. 18
Rd. 20
Rd. 22 Rd. 22
Rd. 24
Rd. 28
Rd. 30
Rd. 30
Rd. 4
168th Ave.
160th Ave.
Dillon Rd.
112th Ave. 112th Ave. 112th Ave.
104th Ave. 104th Ave. 104th Ave.
92nd Ave.
96th Ave.
Westminster
Lakewood
Arvada
Broomfield
Louisville
Superior
Northglenn
Brighton
Thornton
Denver
Littleton
Wheat Ridge
CommerceCity
Cherry HillsVillage
Englewood
Greenwood Village
Parker
SedaliaCastle Rock
Golden
Morrison
Phillipsburg
Fenders
Twin Forks
Tiny Town
Ken CarylRanch
64th Ave.
56th Ave.
64th Ave.64th Ave.
StandleyLake
Barr Lake
Cherry CreekRes.
QuincyRes.
JeffersonAirport
ROCKY MOUNTAIN WILDLIFE REFUGE
FITZSIMMONSARMY
HOSPITAL
LOWRYREDEVELOPMENT
BUCKLEY AIRNATIONAL GUARD
BASE
CENTENNIALAIRPORT
Rocky Flats
58th Ave.
64th Ave. Ralston Rd.Oberon Rd
120th Ave.
93
470
470
470470
470
93
26
75
30
88
26
391
121
177
128
DENVER INTERNATIONALAIRPORT
Unio
n Bl vd
.
Bear Creek
Bear CreekRes.
Marston Res.
Bowles
Ft. Logan
Res.
Bear CreekRes.
Hyatt Lake
Tucker LakeArvada
Res.
SodaLakes
ChatfieldRes.
S.Deer Creek Canyon Rd.
Morrison Rd.
Platte
Can
yon R
d.
S. Golden Rd.
Denver West Blvd.
Washington
C
arr S
t.
Turkey Cree
k Rd.
Santa
Fe D
r.
Kipli
ng P
kwy
19th St.
Valmont Dr.
21st Ave.
17th Ave.
Mountain View Ave.
9th Ave.3rd Ave.
Nelson Rd.
Pike Rd. Pike Rd.Plateau Rd.
Prospect Rd.
Quail Rd.
Oxford Rd.
Niwot Rd.Niwot Rd.Niwot Rd.
CO. 34 Neva Rd.
Mineral Rd.
Lookout Rd.
South Boulder Rd.
Baseline Rd.
Rascal Dr. Emma
Baseline Rd.
S. Boulder Rd.
Arapahoe Ave.Arapahoe Ave.
Jay Rd.
CanyonPearl St.
Isabelle Rd.
Jasper Rd.
Airp
ort R
d.
75th
Ave.
75th
Ave.
75th
Ave.
115th
Ave
.
Coun
ty Lin
e Rd.
Coun
ty Lin
e Rd.79
th Av
e.
73rd
Ave
.
63rd
St.
63rd
St.
31st
St.
95th
Ave.
Caria
WCR
3 1/2
Hove
r Rd.
Fran
cis
Main
St.
Lash
ley S
t.Al
pine S
t.Pa
ce S
t.
Longv
iew D
r.
Somerset
83rd
Ave
.
19th
St.
Broa
dway Fo
lsom
28th
St.
30th
St. 47
th St
.
F
oothi
lls
D
iagon
al High
way (Hwy 1
19)
Boulder
Niwot
Erie
Longmont
95th
Ave.
Monteview Blvd. Monteview Blvd.23rd Ave.
17th Ave. 17th Ave.
11th Ave.8th Ave.6th Ave. 6th Ave.
1st Ave.
Alameda Ave. Alameda Ave.
26th Ave.20th St.16th St. Park Ave.
Speer Blvd.
Brighton
Blvd.
Brighton
Blvd.
Larimer
Champa
Speer
Martin Luther King
Smith Rd.
Smith Rd.
Color
ado B
lvd.
Holly
St.
Mona
co P
kwy.
Queb
ec S
t.
Hava
na S
t.Ha
vana
St.
Potom
acPo
tomac
Dayto
n St.
Dayto
n St.
Peor
ia St
.Pe
oria
St.
Peor
ia St
.
Hava
na S
t.
Sable
Gun C
lub R
d.
Towe
r Rd.
Towe
r Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Towe
r Rd.
Towe
r Rd.
Buck
ley R
d.Ai
rpor
t Blvd
.Ai
rpor
t Blvd
.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Queb
ec S
t.Sy
racu
se S
t.Qu
ebec
St.
Queb
ec S
t.
Yose
mite
St.
4th S
t.
Unive
rsity
Blvd
.Un
iversi
ty Bl
vd.Pr
ince
Wind
erme
re
Broa
dway
Color
ado B
lvd.
Yose
mite
St.
Yose
mite
St.
Dayto
n St.
Hava
na S
t.
Peor
ia St
.
Queb
ec S
t.
York
St.
York
St.
York
St.
Down
ing S
t.
Loga
n St.Br
oadw
ay
Kalm
athKa
lmath
Aurora
Peco
s St.
Huro
n St
.
Broa
dway
Was
hingto
n St.
Dahli
a St.
Was
hingto
n St.
Color
ado B
lvd.
Holly
St.
Lambert Rd.
Jord
an R
d.
Motse
nboc
her
Leetsdale Dr.
Evans Ave. Evans Ave.Iliff Ave. Iliff Ave.
Jewell Ave.Jewell Ave.
Jewell Ave.
Yale Ave.
Dartmouth Ave.
Hampden Ave. Hampden Ave.
Quincy Ave. Quincy Ave. Quincy Ave. Quincy Ave.
Belleview Ave. Belleview Ave. Belleview Ave.
Littleton Blvd.Orchard Rd. Orchard Rd.
Arapahoe Rd. Arapahoe Rd. Arapahoe Rd.
Dry Creek Rd.
County Line Rd.
Lincoln Ave. Lincoln Ave.
Inspiration Dr.Summit
Pine Ln.
Stroh Rd.
MainMcArthur Rd.
Oxford Ave.
Hampden Ave. Hampden Ave.
Yale Ave. Yale Ave.
Moline
N. H
ighlands Ranch Pkwy.
Castle Pines Pkwy.
Mineral Ave.
Ridge Rd.
Riverda
le Rd.
Danie
ls P
ark
Rd.
W. Parker Rd.
Jordan Rd.
Dran
sfelt
Pine
Dr. To
maha
wk R
d.
Flintw
ood R
d.
Hilltop Rd.
Ponderosa Dr.
Smoky Hill Rd.
Crown
Blvd
.
Potom ac St.
Tamarac
470
470
Gartrell WayGartrell Rd
55th
Ave.
Wildcat Reserve Pkwy.
Peco
s St.
85
Luce
nt
Cherry Creek Dr.
Syracuse Way
Del Mar
Old B
righto
n Rd.
Crowfoot Vall
ey Rd.
66 66
52
52
7 7
119
36
287
287
287
Happy Canyo
n
32nd Ave.
DenverFederalCenter
70
70
70
25
25
25
25
25
25
225
225
25
70
270
76
76
76
70
285
287
287
6
85
85
85
85
85
6
36
36
58
72
44
2
52nd Ave. 52nd Ave.
44th Ave.
38th Ave.
32nd Ave. 32nd Ave.
26th Ave. 26th Ave.
20th Ave.
1st Ave.
10th Ave.
Alameda Ave.
Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave.
Florida Ave.
Morriso
n Rd.
Garri
son S
t.Es
tes S
t.
Pier
ce S
t.
Harla
n St.
Kipli
ng S
t.
Wad
swor
th Bl
vd.
Sher
idan B
lvd.
Sher
idan B
lvd.
Fede
ral B
lvd.
Fede
ral B
lvd.
Zuni
St.
Tejon
St.
Lowe
ll Blvd
.Irv
ing S
t.
Pier
ce S
t.
Jewell Ave.
Quincy Ave.
Belleview Ave.
Bowles Ave.
Coal Mine Rd.
Ken Caryl Ave.
Chatfield Ave.
Ute Ave.
Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave.
Ridge Rd.
McInt
yre S
t.
Indian
a St.
Kipli
ng S
t.Ki
pling
St.
Simm
s St.
Wad
swor
th Bl
vd.
Wad
swor
th Bl
vd.
Youn
gfield
Lama
rMa
rshall
Old W
adsw
orth
Blvd
.
Sher
idan
Blvd
.
Fede
ral B
lvd.
Lowe
ll Blvd
.
Simm
s St.
Alkia
re S
t.
Simm
s St.
Main
St.
Quac
ker S
t.
War
d R
d.
72nd Ave. 72nd Ave.
Carr
St.
80th Ave.82nd Ave.
88th Ave. 88th Ave.
84th Ave.
88th Ave.
100th Ave. 100th Ave.
108th Ave.
120th Ave. 120th Ave. 120th Ave.
128th Ave. 128th Ave.
144th Ave. 144th Ave.
152nd Ave.
136th Ave. 136th Ave.
132nd Ave.
160th Ave. 160th Ave.Bridge St.
Rd. 2
Bromley Ln.
168th Ave.
Rd. 4
Rd. 6
Rd. 8
Rd. 10
Rd. 4
Rd. 6
Rd. 8
Rd. 10
Rd. 6
Rd. 8
Rd. 10
Rd. 12
Rd. 3
Rd. 5
Rd.7
Rd. 9
Rd. 1
1
Rd. 1
3
Rd. 1
5
Rd. 1
7
Rd. 1
9
Rd. 2
1
Rd. 3
7
Rd. 3
1
Rd. 2
7Rd. 2
5
Rd. 12
Rd. 14
Rd. 16
Rd. 18
Rd. 20
Rd. 22 Rd. 22
Rd. 24
Rd. 28
Rd. 30
Rd. 30
Rd. 4
168th Ave.
160th Ave.
Dillon Rd.
112th Ave. 112th Ave. 112th Ave.
104th Ave. 104th Ave. 104th Ave.
92nd Ave.
96th Ave.
Westminster
Lakewood
Arvada
Broomfield
Louisville
Superior
Northglenn
Brighton
Thornton
Denver
Littleton
Wheat Ridge
CommerceCity
Cherry HillsVillage
Englewood
Greenwood Village
Parker
SedaliaCastle Rock
Golden
Morrison
Phillipsburg
Fenders
Twin Forks
Tiny Town
Ken CarylRanch
64th Ave.
56th Ave.
64th Ave.64th Ave.
StandleyLake
Barr Lake
Cherry CreekRes.
QuincyRes.
JeffersonAirport
ROCKY MOUNTAIN WILDLIFE REFUGE
FITZSIMMONSARMY
HOSPITAL
LOWRYREDEVELOPMENT
BUCKLEY AIRNATIONAL GUARD
BASE
CENTENNIALAIRPORT
Rocky Flats
58th Ave.
64th Ave. Ralston Rd.
Oberon Rd
120th Ave.
93
470
470
470470
470
93
26
75
30
88
26
391
121
177
128
DENVER INTERNATIONALAIRPORT
Unio
n Bl vd
.
Bear Creek
Bear CreekRes.
Marston Res.
Bowles
Ft. Logan
Res.
Bear CreekRes.
Hyatt Lake
Tucker LakeArvada
Res.
SodaLakes
ChatfieldRes.
S.Deer Creek Canyon Rd.
Morrison Rd.
Platte
Can
yon R
d.
S. Golden Rd.
Denver West Blvd.
Washington
C
arr S
t.
Turkey Cree
k Rd.
Santa
Fe D
r.
Kipli
ng P
kwy
19th St.
Valmont Dr.
21st Ave.
17th Ave.
Mountain View Ave.
9th Ave.3rd Ave.
Nelson Rd.
Pike Rd. Pike Rd.Plateau Rd.
Prospect Rd.
Quail Rd.
Oxford Rd.
Niwot Rd.Niwot Rd.Niwot Rd.
CO. 34 Neva Rd.
Mineral Rd.
Lookout Rd.
South Boulder Rd.
Baseline Rd.
Rascal Dr. Emma
Baseline Rd.
S. Boulder Rd.
Arapahoe Ave.Arapahoe Ave.
Jay Rd.
CanyonPearl St.
Isabelle Rd.
Jasper Rd.
Airp
ort R
d.
75th
Ave.
75th
Ave.
75th
Ave.
115th
Ave
.
Coun
ty Lin
e Rd.
Coun
ty Lin
e Rd.79
th Av
e.
73rd
Ave
.
63rd
St.
63rd
St.
31st
St.
95th
Ave.
Caria
WCR
3 1/2
Hove
r Rd.
Fran
cis
Main
St.
Lash
ley S
t.Al
pine S
t.Pa
ce S
t.
Longv
iew D
r.
Somerset
83rd
Ave
.
19th
St.
Broa
dway Fo
lsom
28th
St.
30th
St. 47
th St
.
F
oothi
lls
D
iagon
al High
way (Hwy 1
19)
Boulder
Niwot
Erie
Longmont
95th
Ave.
Monteview Blvd. Monteview Blvd.23rd Ave.
17th Ave. 17th Ave.
11th Ave.8th Ave.6th Ave. 6th Ave.
1st Ave.
Alameda Ave. Alameda Ave.
26th Ave.20th St.16th St. Park Ave.
Speer Blvd.
Brighton
Blvd.
Brighton
Blvd.
Larimer
Champa
Speer
Martin Luther King
Smith Rd.
Smith Rd.
Color
ado B
lvd.
Holly
St.
Mona
co P
kwy.
Queb
ec S
t.
Hava
na S
t.Ha
vana
St.
Potom
acPo
tomac
Dayto
n St.
Dayto
n St.
Peor
ia St
.Pe
oria
St.
Peor
ia St
.
Hava
na S
t.
Sable
Gun C
lub R
d.
Towe
r Rd.
Towe
r Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Towe
r Rd.
Towe
r Rd.
Buck
ley R
d.Ai
rpor
t Blvd
.Ai
rpor
t Blvd
.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Queb
ec S
t.Sy
racu
se S
t.Qu
ebec
St.
Queb
ec S
t.
Yose
mite
St.
4th S
t.
Unive
rsity
Blvd
.Un
iversi
ty Bl
vd.Pr
ince
Wind
erme
re
Broa
dway
Color
ado B
lvd.
Yose
mite
St.
Yose
mite
St.
Dayto
n St.
Hava
na S
t.
Peor
ia St
.
Queb
ec S
t.
York
St.
York
St.
York
St.
Down
ing S
t.
Loga
n St.Br
oadw
ay
Kalm
athKa
lmath
Aurora
Peco
s St.
Huro
n St
.
Broa
dway
Was
hingto
n St.
Dahli
a St.
Was
hingto
n St.
Color
ado B
lvd.
Holly
St.
Lambert Rd.
Jord
an R
d.
Motse
nboc
her
Leetsdale Dr.
Evans Ave. Evans Ave.Iliff Ave. Iliff Ave.
Jewell Ave.Jewell Ave.
Jewell Ave.
Yale Ave.
Dartmouth Ave.
Hampden Ave. Hampden Ave.
Quincy Ave. Quincy Ave. Quincy Ave. Quincy Ave.
Belleview Ave. Belleview Ave. Belleview Ave.
Littleton Blvd.Orchard Rd. Orchard Rd.
Arapahoe Rd. Arapahoe Rd. Arapahoe Rd.
Dry Creek Rd.
County Line Rd.
Lincoln Ave. Lincoln Ave.
Inspiration Dr.Summit
Pine Ln.
Stroh Rd.
MainMcArthur Rd.
Oxford Ave.
Hampden Ave. Hampden Ave.
Yale Ave. Yale Ave.
Moline
N. H
ighlands Ranch Pkwy.
Castle Pines Pkwy.
Mineral Ave.
Ridge Rd.
Riverda
le Rd.
Danie
ls P
ark
Rd.
W. Parker Rd.
Jordan Rd.
Dran
sfelt
Pine
Dr. To
maha
wk R
d.
Flintw
ood R
d.
Hilltop Rd.
Ponderosa Dr.
Smoky Hill Rd.
Crown
Blvd
.
Potom ac St.
Tamarac
470
470
Gartrell WayGartrell Rd
55th
Ave.
Wildcat Reserve Pkwy.
Peco
s St.
85
Luce
nt
Cherry Creek Dr.
Syracuse Way
Del Mar
Old B
righto
n Rd.
Crowfoot Vall
ey Rd.
66 66
52
52
7 7
119
36
287
287
287
Happy Canyo
n
32nd Ave.
DenverFederalCenter
70
70
70
25
25
25
25
25
25
225
225
25
70
270
76
76
76
70
285
287
287
6
85
85
85
85
85
6
36
36
58
72
44
2
52nd Ave. 52nd Ave.
44th Ave.
38th Ave.
32nd Ave. 32nd Ave.
26th Ave. 26th Ave.
20th Ave.
1st Ave.
10th Ave.
Alameda Ave.
Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave. Mississippi Ave.
Florida Ave.
Morriso
n Rd.
Garri
son S
t.Es
tes S
t.
Pier
ce S
t.
Harla
n St.
Kipli
ng S
t.
Wad
swor
th Bl
vd.
Sher
idan B
lvd.
Sher
idan B
lvd.
Fede
ral B
lvd.
Fede
ral B
lvd.
Zuni
St.
Tejon
St.
Lowe
ll Blvd
.Irv
ing S
t.
Pier
ce S
t.
Jewell Ave.
Quincy Ave.
Belleview Ave.
Bowles Ave.
Coal Mine Rd.
Ken Caryl Ave.
Chatfield Ave.
Ute Ave.
Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave. Colfax Ave.
Ridge Rd.
McInt
yre S
t.
Indian
a St.
Kipli
ng S
t.Ki
pling
St.
Simm
s St.
Wad
swor
th Bl
vd.
Wad
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vd.
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Old W
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.
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idan
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.
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ral B
lvd.
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.
Simm
s St.
Alkia
re S
t.
Simm
s St.
Main
St.
Quac
ker S
t.
War
d R
d.
72nd Ave. 72nd Ave.
Carr
St.
80th Ave.82nd Ave.
88th Ave. 88th Ave.
84th Ave.
88th Ave.
100th Ave. 100th Ave.
108th Ave.
120th Ave. 120th Ave. 120th Ave.
128th Ave. 128th Ave.
144th Ave. 144th Ave.
152nd Ave.
136th Ave. 136th Ave.
132nd Ave.
160th Ave. 160th Ave.Bridge St.
Rd. 2
Bromley Ln.
168th Ave.
Rd. 4
Rd. 6
Rd. 8
Rd. 10
Rd. 4
Rd. 6
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Rd. 10
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1
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7
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1
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7
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1
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7Rd. 2
5
Rd. 12
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Rd. 20
Rd. 22 Rd. 22
Rd. 24
Rd. 28
Rd. 30
Rd. 30
Rd. 4
168th Ave.
160th Ave.
Dillon Rd.
112th Ave. 112th Ave. 112th Ave.
104th Ave. 104th Ave. 104th Ave.
92nd Ave.
96th Ave.
Westminster
Lakewood
Arvada
Broomfield
Louisville
Superior
Northglenn
Brighton
Thornton
Denver
Littleton
Wheat Ridge
CommerceCity
Cherry HillsVillage
Englewood
Greenwood Village
Parker
SedaliaCastle Rock
Golden
Morrison
Phillipsburg
Fenders
Twin Forks
Tiny Town
Ken CarylRanch
64th Ave.
56th Ave.
64th Ave.64th Ave.
StandleyLake
Barr Lake
Cherry CreekRes.
QuincyRes.
JeffersonAirport
ROCKY MOUNTAIN WILDLIFE REFUGE
FITZSIMMONSARMY
HOSPITAL
LOWRYREDEVELOPMENT
BUCKLEY AIRNATIONAL GUARD
BASE
CENTENNIALAIRPORT
Rocky Flats
58th Ave.
64th Ave. Ralston Rd.
Oberon Rd
120th Ave.
93
470
470
470470
470
93
26
75
30
88
26
391
121
177
128
DENVER INTERNATIONALAIRPORT
Unio
n Bl vd
.
Bear Creek
Bear CreekRes.
Marston Res.
Bowles
Ft. Logan
Res.
Bear CreekRes.
Hyatt Lake
Tucker LakeArvada
Res.
SodaLakes
ChatfieldRes.
S.Deer Creek Canyon Rd.
Morrison Rd.
Platte
Can
yon R
d.
S. Golden Rd.
Denver West Blvd.
Washington
C
arr S
t.
Turkey Cree
k Rd.
Santa
Fe D
r.
Kipli
ng P
kwy
19th St.
Valmont Dr.
21st Ave.
17th Ave.
Mountain View Ave.
9th Ave.3rd Ave.
Nelson Rd.
Pike Rd. Pike Rd.Plateau Rd.
Prospect Rd.
Quail Rd.
Oxford Rd.
Niwot Rd.Niwot Rd.Niwot Rd.
CO. 34 Neva Rd.
Mineral Rd.
Lookout Rd.
South Boulder Rd.
Baseline Rd.
Rascal Dr. Emma
Baseline Rd.
S. Boulder Rd.
Arapahoe Ave.Arapahoe Ave.
Jay Rd.
CanyonPearl St.
Isabelle Rd.
Jasper Rd.
Airp
ort R
d.
75th
Ave.
75th
Ave.
75th
Ave.
115th
Ave
.
Coun
ty Lin
e Rd.
Coun
ty Lin
e Rd.79
th Av
e.
73rd
Ave
.
63rd
St.
63rd
St.
31st
St.
95th
Ave.
Caria
WCR
3 1/2
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r Rd.
Fran
cis
Main
St.
Lash
ley S
t.Al
pine S
t.Pa
ce S
t.
Longv
iew D
r.
Somerset
83rd
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.
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dway Fo
lsom
28th
St.
30th
St. 47
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.
F
oothi
lls
D
iagon
al High
way (Hwy 1
19)
Boulder
Niwot
Erie
Longmont
95th
Ave.
Monteview Blvd. Monteview Blvd.23rd Ave.
17th Ave. 17th Ave.
11th Ave.8th Ave.6th Ave. 6th Ave.
1st Ave.
Alameda Ave. Alameda Ave.
26th Ave.20th St.16th St. Park Ave.
Speer Blvd.
Brighton
Blvd.
Brighton
Blvd.
Larimer
Champa
Speer
Martin Luther King
Smith Rd.
Smith Rd.
Color
ado B
lvd.
Holly
St.
Mona
co P
kwy.
Queb
ec S
t.
Hava
na S
t.Ha
vana
St.
Potom
acPo
tomac
Dayto
n St.
Dayto
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Peor
ia St
.Pe
oria
St.
Peor
ia St
.
Hava
na S
t.
Sable
Gun C
lub R
d.
Towe
r Rd.
Towe
r Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Pica
dilly
Rd.
Towe
r Rd.
Towe
r Rd.
Buck
ley R
d.Ai
rpor
t Blvd
.Ai
rpor
t Blvd
.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Cham
bers
Rd.
Queb
ec S
t.Sy
racu
se S
t.Qu
ebec
St.
Queb
ec S
t.
Yose
mite
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4th S
t.
Unive
rsity
Blvd
.Un
iversi
ty Bl
vd.Pr
ince
Wind
erme
re
Broa
dway
Color
ado B
lvd.
Yose
mite
St.
Yose
mite
St.
Dayto
n St.
Hava
na S
t.
Peor
ia St
.
Queb
ec S
t.
York
St.
York
St.
York
St.
Down
ing S
t.
Loga
n St.Br
oadw
ay
Kalm
athKa
lmath
Aurora
Peco
s St.
Huro
n St
.
Broa
dway
Was
hingto
n St.
Dahli
a St.
Was
hingto
n St.
Color
ado B
lvd.
Holly
St.
Lambert Rd.
Jord
an R
d.
Motse
nboc
her
Leetsdale Dr.
Evans Ave. Evans Ave.Iliff Ave. Iliff Ave.
Jewell Ave.Jewell Ave.
Jewell Ave.
Yale Ave.
Dartmouth Ave.
Hampden Ave. Hampden Ave.
Quincy Ave. Quincy Ave. Quincy Ave. Quincy Ave.
Belleview Ave. Belleview Ave. Belleview Ave.
Littleton Blvd.Orchard Rd. Orchard Rd.
Arapahoe Rd. Arapahoe Rd. Arapahoe Rd.
Dry Creek Rd.
County Line Rd.
Lincoln Ave. Lincoln Ave.
Inspiration Dr.Summit
Pine Ln.
Stroh Rd.
MainMcArthur Rd.
Oxford Ave.
Hampden Ave. Hampden Ave.
Yale Ave. Yale Ave.
Moline
N. H
ighlands Ranch Pkwy.
Castle Pines Pkwy.
Mineral Ave.
Ridge Rd.
Riverda
le Rd.
Danie
ls P
ark
Rd.
W. Parker Rd.
Jordan Rd.
Dran
sfelt
Pine
Dr. To
maha
wk R
d.
Flintw
ood R
d.
Hilltop Rd.
Ponderosa Dr.
Smoky Hill Rd.
Crown
Blvd
.
Potom ac St.
Tamarac
470
470
Gartrell WayGartrell Rd
55th
Ave.
Wildcat Reserve Pkwy.
Peco
s St.
85
Luce
nt
Cherry Creek Dr.
Syracuse Way
Building SF: 6,464
Year Built: 1919
Sale Price: $2,570,000
Sale Date: 01/31/2017
Price/SF: $397.59
Zoning: CC
Blue Parrot640 Main StreetLouisville, CO
The Arvada Tavern5707 Wadsworth Blvd
Arvada, CO
Olde Town Plaza5777 Olde Wadsworth Blvd
Arvada, CO
*Property Sold by Pinnacle REA
1 2 3
12
3
*Property Sold by Pinnacle REA
Building SF: 5,200
Year Built: 1920
Sale Price: $1,537,500
Sale Date: 06/16/2017
Price/SF: $295.67
Zoning: B-3
Building SF: 10,844
Year Built: 1938
Sale Price: $3,490,000
Sale Date: 01/05/2018
Price/SF: $321.84
Zoning: OT-OW
15
LOCATION OVERVIEW
16
Location Overview
DOWNTOWN LITTLETON
ARAPAHOE COMMUNITY
COLLEGE
W BOWLES AVENUE
SO
UT
H P
RIN
CE
ST
RE
ET
2490 W MAIN STREET
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
1 mile 6,628
3 mile 39,753
5 mile 118,647
HOUSEHOLDS
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
1 mile $70,593
3 mile $92,501
5 mile $93,181
AVERAGE HH INCOME
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
1 mile 13,372
3 mile 95,591
5 mile 289,983
POPULATION
Traffic Volume
10,140
17
Location Overview
DOWNTOWN LITTLETON -WITHIN WALKING DISTANCE
Historic Downtown Littleton is a charming historic shopping districtwith over 250 eclectic shopping,dining, entertainment and service- oriented businesses. The streets are lined with four-star restaurants and small neighborhood eateries, locally owned boutiques and an award-winning live theater. Featured in 5280 Magazine as one of the Denver Area’s best 10 places to live, shop & work. Community and family friendly events and festivals are held on Main Street throughout the year. There is paid public parking located at Reinke Brothers Costume & Haunted Mansion.
DOWNTOWN LITTLETONShopping & Retail
DiStRict
DOWNTOWN LITTLETON
18
DOWNTOWN LITTLETONDowntown Littleton is located approximately nine-miles south of downtown Denver. There are over 220 businesses in downtown. Main Street is lined with charming art galleries, antique shops, unique clothing boutiques and popular restaurants and bars. Downtown hosts numerous events including: a weekly Farmer’s Market, Mardis Gras celebration, fireworks, concerts and art shows. The 87th annual Western Welcome Week celebration is a community favorite hosting 40 events benefiting local civic and charitable organizations.
SOUTHWEST CORRIDOR LIGHT RAIL LINEThe Southwest Corridor is an 8.7-mile light rail line from I-25/ Broadway to Mineral Avenue in Littleton. There are five stations and approximately 2,600 parking spaces. There is a planned extension from Mineral Avenue to C-470/Lucent Boulevard. The extension will add 2.5 miles of additional light rail and 1,000 more parking spaces.
ARAPAHOE COMMUNITY COLLEGEACC is a 51-acre campus located adjacent to downtown Littleton and currently has over 7,500 full-time students, and 2,500 part-time students. With a track record of over 48 years of operation, Arapahoe Community College is recognized throughout the region as Colorado’s premier community college. They have a highly qualified and dedicated faculty and staff, and a student population that reflects the growing diversity of Colorado.
LITTLETON ADVENTIST HOSPITALLittleton Adventist Hospital is a full-service 231-bed acute care facility. The hospital has been serving the south metro Denver area for more than 20 years. The hospital is currently undergoing a $30 million renovation and expansion. Annually, the hospital has 9,250 admissions and 37,430 emergency room visits. The hospital is home to a Level III NICU, a Level II Trauma Center and a nationally accredited breast center. Littleton Adventist Hospital is one of 15 hospitals in the Centura Health system of care and is part of the Adventist Health System. The U.S. News & World Report ranks Littleton Adventist Hospital as one of the nation’s 1,500 best hospitals for excellence and expertise in urology care.
Location Overview
LITTLETON
19
Disclaimer
This confidential Offering Memorandum, has been prepared by Pinnacle Real Estate Advisors, LLC (“Pinnacle REA”) for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. Pinnacle REA recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property located at 2490 W Main Street in Littleton, Colorado (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statements made in this Offering Memorandum or upon any other materials, statements or information provided by Pinnacle REA or its brokers.
Pinnacle REA makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. Pinnacle REA has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the Pinnacle REA and the Owner of the Property. Pinnacle Real Estate Advisors make no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, Pinnacle REA and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further, Pinnacle REA and the Property Owner disclaim any and all liability for any express or implied representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other
written or oral communication transmitted or made available to you. Pinnacle REA shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request. This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization of Pinnacle REA. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to Pinnacle REA at your earliest convenience.
Investment Contacts:
Josh Newell, Principal303.962.9559 | [email protected]
Lindsey Santaularia, Senior Transaction Manager303.962.9573 | [email protected]
Confidential Offering Memorandum
2490 W MAIN STREETLITTLETON, CO 80120