Ground lease through 5/13/2032 with three 10-year options thereafter. Obligation is as follows (annually):
2023 - 2026: $119,790
2027: $127,776
2028 - 2031: $131,769
2032: $43,923
Located as an out-parcel at Larkridge Outdoor Shopping Center – which sees around 27,000 VPD – 16501 Washington Street is a 4,008 SF, reinforced concrete, single-story, freestanding building built in 2007 last serving a single, bank tenant who has taken great care of maintaining the property. The building offers great visibility from Washington Street and has a dedicated turn lane that heads into a 35 space parking lot with an extremely high parking ratio of 7.12/1,000 SF. Being just off I-25 in Thornton, the drive is an equal 23 minutes to both Downtown Denver and Longmont: SmartAsset named Longmont the fastest growing city in the country in 2019. The property is
on a long-term ground lease with the Larkridge Developer – Jordon Perlmutter & Co.
Within a 5-mile radius of 16501 Washington St., the population has increased more than 46% in the past decade with the median annual household income now reaching almost $120,000. Some restaurants nearby include Chili’s (shares the parking lot), Famous Dave’s, Chick-fil-A, and Buffalo Wild Wings. Dick’s Sporting Goods, Costco and Home Depot are the big box retail tenants that drive much of the traffic to Larkridge. The other closest Costco locations being in Superior and Westminster means this Costco location in Larkridge brings in people as far away as Longmont, Lafayette, and Brighton—most of whom have to pass 16501 Washington St on their way. Other notable developments in the area include Colorado National Golf Club and Children's Hospital Colorado North Campus.
