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1900 Eastlake Dr - Eastlake Station

11.79 Acres of Residential Land in Thornton, CO 80241

Investment Highlights

  • Adjacent to Eastlake/124th Rail Station - N Line Commuter Rail providing direct access to Union Station in under 30 minutes
  • Undersupplied submarket from lack of water supply in years prior to 2024
  • Supported by strong demographics - $124k Avg HH Income within same zip code & $93k Median HH Income within 3-mile radius.
  • In-Place Zoning that allows 340-437 total units (Multifamily & Live/Work)
  • 5 minutes from multiple high-end retail and grocery centers
  • Recently constructed (2021-2023) apartments 1/2 mile from Eastlake Station currently achieving $2.25-$2.55/SF market rents

Executive Summary

MMG is pleased to present Eastlake Station South – Planning Area A (PA-A), an 11.79-acre development opportunity adjacent to Eastlake/124th Station (N-Line Commuter Rail) in Thornton, Colorado. The site comes with an approved ODP (Overall Development Plan) that allows 340-437 total multifamily units. With a significant amount of pre-development work already completed, potential Buyers will benefit from an expedited project approval timeline.
Eastlake Station presents a prime opportunity for multifamily development in a rapidly growing Denver suburb. Recently unlocked by the approval of a crucial water supply pipeline, this transit-oriented development site offers direct rail access, connecting residents to Downtown Denver and other key metropolitan areas. The location boasts attractive demographics, with above-average household incomes and a mix of young professionals and families. Proximity to amenities such as Thorncreek Crossing, anchored by Target, Sprouts, Michael’s, Barnes & Noble,, and Eastlake Shores Park, with paved trails surrounding a picturesque lake, enhances the area's appeal.
As Thornton continues to experience significant population growth, this development opportunity is poised to capitalize on the expanding Denver metro area's housing needs. The site's potential for increased property values, coupled with strong market fundamentals, makes it a compelling investment. With the water supply issue resolved, the area is primed for future development, offering investors the chance to meet the increasing demand for multifamily housing in a location that combines suburban charm with urban connectivity. Eastlake Station represents a strategic opportunity to participate in the ongoing growth and transformation of this dynamic Colorado community.

Property Facts

Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 11.79 AC

1 Lot Available

Lot

Lot Size 11.79 AC

In-Place Zoning that allows 340-437 total units (Multifamily & Live/Work)

Description

Adjacent to Eastlake/124th Rail Station - N Line Commuter Rail providing direct access to Union Station in under 30 minutes Undersupplied submarket from lack of water supply in years prior to 2024 5 minutes from multiple high-end retail and grocery centers (Target, Sprouts, Michaels, Barnes & Noble, World Market, King Soopers, Natural Grocers, CVS Pharmacy, Petco) Supported by strong demographics - $124k Avg HH Income within same zip code & $93k Median HH Income within 3-mile radius. Recently constructed (2021-2023) apartments 1/2 mile from Eastlake Station currently achieving $2.25-$2.55/SF market rents

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1573-35-1-15-001
Land Assessment
$320
Improvements Assessment
$8,820
Total Assessment
$9,140

zoning

Zoning Code PD (Mixed Use)
PD (Mixed Use)
  • Listing ID: 32655520

  • Date on Market: 8/1/2024

  • Last Updated:

  • Address: 1900 Eastlake Dr, Thornton, CO 80241

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