Two-Story Mixed-Use
For Sale
Contact for pricing
110 N Tejon St, Colorado Springs, CO 80903
Ground-floor retail is leased long term, with office space above under short-term leases.
Property Size7,405 SF
Price / SF$243.08
Days on Market239
Property Features for 110 N Tejon St
General Information
Standard status
Active
Size
7,405 SF
Property subtype
RETAIL
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Guy Cox · License #FA.100075843
(719) 357-7494
Source:
Moodyscre
Added: Jan 19
Changed: Sep 5
Last Checked: Sep 14 at 10:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoff & Leigh
Investment Insights
Based on property information with market context.
Located at 110 N. Tejon Street in downtown Colorado Springs, this 7,405-square-foot, two-story mixed-use property combines retail and office space. The ground floor is configured as retail space and carries a long-term lease, while the second floor provides office space with short-term leases.
The property is positioned directly above Savory Spice Shop, placing the building within an established downtown retail setting. Its configuration provides separate retail and office components within the same two-story building, with existing leases across both levels.
The property is positioned directly above Savory Spice Shop, placing the building within an established downtown retail setting. Its configuration provides separate retail and office components within the same two-story building, with existing leases across both levels.
Key Highlights
- 7,405‑square‑foot mixed‑use property in downtown Colorado Springs
- Two‑story building with retail and office components
- Ground‑floor retail space has a long‑term lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,104
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,782,080
$1.8M
Cap Rate 7%
$1,272,914
$1.3M
Cap Rate 9%
$990,044
$990.0K
Market Conditions
NOI Build-Up for 7,405 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$133.3K $18.00/SF
− Vacancy
−$6.0K −$0.81/SF
EGI
$127.3K $17.19/SF
− OpEx
−$38.2K −$5.16/SF
NOI
$89.1K $12.03/SF
Area
Colorado Springs, CO
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,782,080
Cap Rate 7%
$1,272,914
Cap Rate 9%
$990,044
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.49M
NOI $89,104 @ 7.0% cap · market cap 4.95%
Second Best
Mixed Use
$1.18M
$1.03M – $1.38M
NOI $82,640 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.71M
NOI $102,367 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,815
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is leased long term, with office space above under short-term leases.
Where is this mixed-use property located?
The property is located at 110 N Tejon St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 7,405‑square‑foot mixed‑use property in downtown Colorado Springs; Two‑story building with retail and office components; Ground‑floor retail space has a long‑term lease
