Description

We are offering a 1.48-acre infill development site at 16350 East Colfax Avenue in Aurora, Colorado, for $995,000, or about $15 per square foot of land. The 64,469 square foot parcel is zoned R-3 for medium-density multifamily residential use, and water, sewer, gas and electric utilities are available.

The site sits on the East Colfax corridor in the Laredo Highline neighborhood, where traffic counts reach about 28,000 vehicles per day. It has quick access to I-225, I-70 and the 13th Avenue light rail station, so future residents would have easy connections to downtown Denver and the rest of the metro area.

The location is minutes from the University of Colorado Anschutz Medical Campus and the 587-acre Fitzsimons Life Science District, which includes UCHealth University of Colorado Hospital, Children's Hospital Colorado and the VA Medical Center. Buckley Space Force Base is also nearby. These employers create steady demand for workforce rental housing in the immediate area. The parcel's size gives a developer room to plan a meaningful number of units, along with parking and open space, subject to the City of Aurora's approval process.

R-3 zoned infill land of this size is increasingly hard to find in the Denver metro area, and we see this as a strong opportunity for a multifamily developer or a long-term land investor. Contact Van Myers, Dallas Sandberg or Corey Sandberg of Pinnacle Real Estate Advisors for zoning details and to discuss the site.