16501 Washington StThornton, CO 80023

Property Details for 16501 Washington St

Year built

2005

Lot size

55.49 AC

Property size (Sq ft)

55,795 SF

Property type

Outlet malls

APN

R0216937

APU

R0216937

Description

This exceptional 4,008-square-foot retail building, situated in Thornton, Colorado's thriving Larkridge Outdoor Shopping Center, presents a unique owner-user opportunity. Built in 2007, this single-story, reinforced concrete structure boasts excellent visibility from Washington Street and a dedicated turn lane leading to a 35-space parking lot—a remarkable 7.12 spaces per 1,000 square feet. The property is conveniently located off I-25, providing easy access to both Downtown Denver and Longmont (named the fastest-growing city in the country in 2019 by SmartAsset), each a 23-minute drive. The building's former tenant, a bank, meticulously maintained the property. This vacant space benefits from a long-term ground lease with the Larkridge developer. The surrounding area has experienced significant growth, with a 46%+ population increase within a 5-mile radius over the past decade and a median annual household income nearing $120,000. The property enjoys high traffic volume due to its proximity to major retailers like Dick's Sporting Goods, Costco, and Home Depot, as well as popular restaurants such as Chili's, Famous Dave's, Chick-fil-A, and Buffalo Wild Wings (many sharing the ample parking lot). The location also benefits from the draw of nearby Colorado National Golf Club and Children's Hospital Colorado North Campus. This is a remarkable opportunity to acquire a well-maintained, high-visibility property in a rapidly expanding market. The property is located at 16501 Washington Street, Thornton, CO 80023, and is part of a center that sees approximately 27,000 vehicles per day.

• CAP approach

  CAP return

  Valuation

  6%

  $19,596,290

  6.5%

  $18,088,882

  7%

  $16,796,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $36,920,748

  Geo Method

  $11,616,653

• Alternative Use

  Use

  Valuation

  Residential

  $15,258,649

  Hospitality

  $13,976,841

  Educational

  $11,628,567

  Medical

  $12,028,492

  Retail

  $18,088,882

Location Insight

City

Thornton

County

Adams

State

Colorado

Latitude

39.9967

Longitude

-104.979

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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