Eastlake Dr Thornton, CO 80241

Property Details for 0 Eastlake Dr

Lot size

11.79 lot acres

Property type

Land

Description

This exceptional 11.79-acre land parcel, located in Thornton, Colorado, presents a remarkable opportunity for multifamily development. Situated in Adams County, with a zip code of 80241, the property boasts a prime location adjacent to the Eastlake/124th Station, providing convenient access to the N-Line Commuter Rail. This transit-oriented development site offers direct rail access to Downtown Denver and other key metropolitan areas, significantly reducing commute times. The property is zoned PD - Mixed Use, allowing for the construction of 340-437 multifamily units, as per the approved Overall Development Plan (ODP). Significant pre-development work has already been completed, streamlining the project approval process. The area's demographics are highly attractive, featuring above-average household incomes, with a median household income within a 3-mile radius of $93,000 and an average household income within the same zip code of $124,000. This translates to a strong rental market, with recently constructed apartments within a half-mile currently commanding market rents of $2.25-$2.55 per square foot. Furthermore, the site benefits from its proximity to numerous retail amenities, including Target, Sprouts, Michaels, Barnes & Noble, and Eastlake Shores Park, enhancing its appeal and providing residents with convenient access to shopping and recreational opportunities. The recent resolution of water supply issues makes this a particularly compelling investment, poised to capitalize on the growing demand for multifamily housing in the expanding Denver metro area. This development opportunity offers significant potential for increased property values and strong returns, making it an ideal investment in a dynamic Colorado community.

Location Insight

City

Thornton

County

Adams

State

Colorado

Longitude

-104.966

Latitude

39.9223