7899 york street om - loopnet · denver international airport proposal to market denver...

OFFERING MEMORANDUM7899 YORK STREETDENVER, CO 80229

For More Information Contact

ADAM RIDDLECo-Founder/Principal

303.257.7627 | [email protected] |

AUSTIN SMITHInvestment Advisor


Property Overview

Property Photos

Maps

Financials

Location Overview

Demographics

The Nexus People

TABLE OFCONTENTS

OFFERING MEMORANDUM7899 YORK STREET | DENVER, CO 80229

PROPERTYOVERVIEW

PROPERTY OVERVIEWProperty Name:

Address:

Units:

Building SF:

Parking:

Land:

Year Built:

Year Renovated:

York Street Townhomes

7899 York Street

Denver C, O 80229

4

4,440 SF

Off Street

13,473 sq-ft

1986

2017

SYSTEMSGas/Elec Meters: Separate / Separate Water: MasterTrash: Waste Management Roof: PitchedHeating: Furnace Cooling: Wall Units

Purchase Price

Per Unit

Price Per SF

$835,000

$208,750

$188

INVESTMENT SUMMARY

Townhome Style 4 Plex with Large Units

Value Add Opportunity to Renovate Two Units

Large Lot with Ample Off Street Parking

INVESTMENT HIGHLIGHTSClose Proximity to I-25 and I-76

15 Minute Drive to Downtown Denver


PROPERTYPHOTOS


CROCE CIRCLE

E 78TH AVE

YORK ST

PROPERTYAERIAL



Purchase Price:

Units:

Price Per Unit:

Total SF:

Price Per SF:

T12 Cap Rate:

Year 1 Cap Rate:

Year 1 Cash Flows:

5 Year IRR:

$835,000

4

$208,750

4,440

$188

5.62%

6.07%

$8,784

25.48%

INVESTMENT SUMMARY

Loan to Value:

Loan Amount:

Loan Term:

Interest Rate:

Interest Only Period:

Amortization:

20.00%

$167,000

5

4.75%

0

30

DEBT SUMMARY

INVESTMENTSUMMARY



YORK ST

RENT ROLLANALYSIS

Unit Type

2bd/1.5ba

3bd/1.5ba

Unit Amount

2

2

Unit SF

870

1,305

Current Ave. Rent

$1,150

$1,448

Current Rent / SF

$1.32

$1.11

Market Rent

$1,250

$1,550

Market Rent / SF

$1.44

$1.19

UNIT SUMMARY:

$355

$300

$250

$200

$150

$100

$50

$0Earlier Apr-19Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Later

LOSS TO LEASE BURN-OFF

2 Bed

Net Loss to Lease Gain to Lease

May-19Jun-18

3 BedLEASE EXPIRATION SCHEDULE

1

0Earlier Apr-19Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Later

# of

Uni

ts

Jun-18 May-19



FINANCIALS

REVENUE

Gross Potential Revenue

Vacancy

Rental Revenue

Expense Reimbursements

Other Residential Income

Effective Gross Revneue

EXPENSES

Repairs and Maintenance

Utilities

Insurance

Real Estate Taxes

Property Management

Admin and Other

Total Expenses

Expenses Per Unit

Net Operating Income

Cap Rate

Debt Service - Yr 1

Total Cash Flow

Cash on Cash Return

T12

$63,240

($3,162)

$60,078

$0

$1,500

$61,578

($4,000)

($4,479)

($2,778)

($2,859)

$0

($500)

($14,616)

($3,654)

$46,962

5.62%

($41,940)

$5,022

3.04%

Year 1

$67,200

($3,360)

$63,840

$0

$1,500

$65,340

($4,000)

($4,479)

($2,778)

($2,859)

$0

($500)

($14,616)

($3,654)

$50,724

6.07%

($41,940)

$8,784

5.32%

Year 2

$69,216

($3,461)

$65,755

$0

$1,545

$67,300

($4,120)

($4,613)

($2,861)

($2,945)

$0

($515)

($15,054)

($3,764)

$52,246

6.26%

($41,940)

$10,306

6.25%

Year 3

$71,292

($3,565)

$67,728

$0

$1,591

$69,319

($4,244)

($4,752)

($2,947)

($3,033)

$0

($530)

($15,506)

($3,877)

$53,813

6.44%

($41,940)

$11,873

7.20%INC

OM

E

ST

AT

EM

EN

T



Year 4

$73,431

($3,672)

$69,760

$0

$1,639

$71,399

($4,371)

($4,894)

($3,036)

($3,124)

$0

($546)

($15,971)

($3,993)

$55,427

6.64%

($41,940)

$13,487

8.17%

Year 5

$75,634

($3,782)

$71,852

$0

$1,688

$73,541

($4,502)

($5,041)

($3,127)

($3,218)

$0

($563)

($16,450)

($4,113)

$57,090

6.84%

($41,940)

$15,150

9.18%

PROPOSAL TO MARKET

THE CITY OF DENVER’S NOTABLE RANKINGS

#1 BEST PLACES TO LIVE(U.S. NEWS & WORLD REPORT, 2016)

#1 IN ECONOMIC & JOB GORWTH

(AREA DEVELOPMENT, 2015)

AMERICA’S BEST PLACE FOR

BUSINESS & CAREERS (FORBES, 2015 & 2016)

2ND BEST BEER CITY IN AMERICA

(LIVIABILITY, 2014)

7TH BEST STATE IN WHICH TO

MAKE A LIVING (FORBES 2015)

3RD BEST CITY FOR COLLEGE GRADS

(RENT.COM, 2015)

6TH FASTEST GROWING METRO

AREA IN THE U.S. (FORBES, 2016)

2ND BEST TECH STATE

(THE MILKEN INSTITUTE, 2016)

4TH BEST CITYFOR BIKE RIDING

IN THE U.S. (WALK SCORE, 2015)

3RD HEALTHIST CITYIN THE NATION

(FORBES, 2016)

#1 IN THE NATION FOR LARGEST INCREASE IN

RESIDENTS WITH COLLEGE DEGREES

(U.S. CENSUS BUREAU, 2014)

TOP 10 PLACESIN THE U.S. TO TRAVEL

(LONELY PLANET, 2016)


DENVER GROWTH

PROPOSAL TO MARKET

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 693,000 residents (as of July 2016). An estimated 2.9 million people live in the 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+ people are 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.

ConstructionAs 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 & Curtis Street, 360-unit apartment building linked to a 9-story office building and 6 story parking structure.Skyhouse Denver, a 354-unit apartment with street level retail.Block 162, a full block project that included a 606,500-sq. ft. officetower and a separate hotel tower.Tabor Center Tower Two, a 31 story 700,000 sq. ft. office towerwould be the largest developed in Denver since 1985.1144 Fifteenth St, a 40-story office tower with street level retail.

*Some of this information is sourced from denverpost.com


DENVER INTERNATIONAL AIRPORT

PROPOSAL TO MARKET

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. 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 58 Million passengers in 2016.

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. The Denver City Council recently approved a $1.8 billion set of contracts for gate expansion at DIA. The project will add 39 gates across all three concourses in the next four years. The expansion will utilize the airport’s original “telescoping” design by expanding eastward and westward at the ends.

DIA is among the first airports in North America to secure internationally recognized accreditation for measuring and reducing carbon emissions.

*Some of this information was sourced from Denver Post.


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:

Denver Art Museum

Denver Museum of Nature and Science

Denver Zoo

Denver Aquarium

Six-Flags Elitch Gardens

Hyland Hills Water World

Denver Aquarium

SPORTS Basketball: Denver Nuggets

Hockey: Colorado Avalanche

Football: Denver Broncos

Baseball: Colorado Rockies

Soccer: Colorado Rapids

PROPOSAL TO MARKET OFFERING MEMORANDUM7899 YORK STREET | DENVER, CO 80229

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, Lockheed Martin,

Health ONE Corporation, Centura Health, SCL Health Systems, Comcast,

CenturyLink, Kaiser Permanente, Liberty Tax Service, Western Union, University of

Colorado, Children’s Hospital, and Wells Fargo. 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

Several Fortune 500 companies with headquarters in the Denver metro including:

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.

*Some information was sourced from: https://choosecolorado.com/

PROPOSAL TO MARKET OFFERING MEMORANDUM7899 YORK STREET | DENVER, CO 80229

LIGHT RAIL

PROPOSAL TO MARKET

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 revitalizingneighborhoods across the Denver metro, including Five Points and WestColfax. An average of 64,000 people utilize the light rail each day, making iteighth-largest system in the country, even though Denver is 21st in the nationin terms of population.


2017 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

2022 Summary

Population

Households

Families

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Median Age

Median Household Income

Average Household Income

1 Mile

11,159

3,903

2,651

2.86

2,294

1,609

31.4

$46,070

$55,625

1 Mile

11,692

4,083

2,756

2.86

2,371

1,712

31.7

$50,281

$63,137

3 Miles

106,567

34,914

24,556

3.04

19,120

15,794

31.4

$49,340

$59,383

3 Miles

111,150

36,330

25,388

3.04

19,623

16,707

31.8

$53,103

$67,699

5 Miles

276,090

96,174

64,710

2.85

52,814

43,360

32.9

$52,197

$64,470

5 Miles

290,233

100,945

67,410

2.85

54,883

46,061

33.5

$56,494

$73,597

5 MILES

3 MILES

1 MILE

DEMOGRAPHICS



THE NEXUSPEOPLE

ADAM [email protected]

JASON KOCH Co-FounderPrincipal 303.918.8909 [email protected]

WALLIS HUTCHENS Office Manager 828.850.9033 [email protected]

AUSTIN SMITH Investment Advisor303.868.9096 [email protected]

ROBERT GRAYInvestmentAdvisor713.857.3054 [email protected] Springs Office

SEAN HOLAMON InvestmentAdvisor806.789.9799 [email protected]

KEVIN WOOLSEYInvestmentAdvisor303.990.4361 [email protected]

Not your average brokers.As a team, we might not appear as your typical brokerage - and that’s by design. Even though we’ve been in the industry for more

than two decades, we are as enthusiastic, energetic and collaborative as when we first started. At Nexus, there is no internal competition because our purpose is aligned. This reduces internal competition and makes us more productive on a per

broker/agent basis. We love coming to work everyday because we love helping our clients achieve their goals. You might find us in jeans instead of slacks, outside meeting people instead of in our office. We do things differently because we are different.

KIM ROYSales & Operations [email protected]

SHANNON LACKEYExecutive Assistant/Transaction Coordinator 707.332.5907 [email protected]



7899 YORK STREETDENVER, CO 80229

For More Information Contact

ADAM RIDDLECo-Founder/Principal


AUSTIN SMITHInvestment Advisor303.868.9096 |

[email protected] |


7899 york street om - loopnet · denver international airport proposal to market denver...

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