Sold: Prime Development Site at 2350 Arapahoe Ave in Boulder

Sold: Prime Development Site at 2350 Arapahoe Ave in Boulder

We’re excited to share the successful sale of 2350 Arapahoe Avenue, a .65-acre infill development site located adjacent to the University of Colorado Boulder campus in Boulder.

Set back just off the corner of Arapahoe Avenue and Folsom Street, north of the Newton Court Apartments, the property sits within the university’s North Boulder Creek Master Plan area, an established zone of long-term institutional planning and redevelopment.

The high-profile location, combined with zoning flexibility and proximity to campus, made the site a standout opportunity in Boulder’s increasingly competitive infill market.

A Strategic Sale in a Competitive Market

“When the owners of 2350 Arapahoe approached us, it was clear that CU would be an obvious buyer of this property,” said Todd Walsh of Market Real Estate. “The challenge was reaching an agreement that reflected the parcel’s underlying value and worked for both parties. We were fortunate to generate multiple offers from development groups interested in the opportunity and are proud to have helped our clients achieve a quick and seamless transaction.”

The property was listed at $4.2 million and included an existing restaurant building with a lease in place for El Rincón Cocina y Tequila. The University has indicated it will continue leasing the property to the existing tenant in the near term while evaluating long-term plans for the site.

What the Sale Signals About Boulder’s Market

The swift timeline of this transaction reflects a broader trend we continue to see across Boulder’s commercial real estate landscape: strong demand for well-located infill sites, particularly those offering flexibility of use and proximity to major institutions.

“While the investment community continues to factor risk premiums into valuations for many commercial assets, we’re still seeing strong motivation among developers to secure exceptional sites,” Walsh added. “The level of interest we saw during the marketing of 2350 Arapahoe confirms that buyers remain aggressive when the right opportunity presents itself.”

A Site Rooted in Campus History

The area surrounding 2350 Arapahoe Avenue has long been tied to CU Boulder’s evolution. In the years following World War II, the university developed what became known as Vetsville, a temporary housing village for returning veterans and their families located southwest of today’s Arapahoe Avenue and Folsom Street intersection.

Over time, the area transitioned to permanent housing, culminating in the development of the Newton Court Apartments in the 1970s for married students and faculty. Today, the site’s inclusion in CU Boulder’s North Boulder Creek “Main Street” planning efforts underscores its continued importance within the university’s long-term vision.

(Sources available via CU Boulder Master Plan and CU Coloradan historical archives.)

Looking Ahead

As Boulder continues to evolve and opportunities for infill development become increasingly limited, transactions like 2350 Arapahoe Avenue highlight the enduring value of strategically positioned land near campus and major corridors.

We’re proud to have represented our clients in this transaction and look forward to seeing how this important site contributes to CU Boulder’s future plans and Boulder’s broader urban fabric.