Mixed-Use Property with Masonry
New
For Sale
$1,795,000
1102 21st Street, Colorado Springs, CO 80904
MX-M zoning and a finished basement complement the existing building and infill site.
Property Size8,875 SF
Price / SF$202.25
Days on Market3
Property Features for 1102 21st Street
General Information
Standard status
Active
Size
8,875 SF
Property subtype
FlexIndustrial
Site & Location
Neighborhood
Gold Hill Mesa
Listing Agency:
CBRE - Colorado Springs
Listed By:
Justin Burns
(720) 878-6833
Source:
Cbre
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 24 at 2:58PM
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 CBRE - Colorado Springs
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Investment Insights
Based on property information with market context.
An existing masonry building of approximately 8,875 square feet, including a finished basement, occupies a 0.96-acre infill parcel. The property is zoned MX-M (Mixed-Use Medium Scale), and the existing improvements may support continued use or adaptive reuse.
Gold Hill Mesa is adjacent to the site. The property is described as offering access to Downtown Colorado Springs, Old Colorado City, and Manitou Springs. Uses identified for consideration include office, educational, community, healthcare, multifamily, hospitality, and specialty commercial.
Gold Hill Mesa is adjacent to the site. The property is described as offering access to Downtown Colorado Springs, Old Colorado City, and Manitou Springs. Uses identified for consideration include office, educational, community, healthcare, multifamily, hospitality, and specialty commercial.
Key Highlights
- Approximately 8,875 SF masonry building with finished basement
- 0.96‑acre infill site
- MX‑M (Mixed‑Use Medium Scale) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,045
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,980,900
$2.0M
Cap Rate 7%
$1,414,929
$1.4M
Cap Rate 9%
$1,100,500
$1.1M
Market Conditions
NOI Build-Up for 8,875 SF
Gross rent
$170.4K $19.20/SF
− Vacancy
−$11.9K −$1.34/SF
EGI
$158.5K $17.86/SF
− OpEx
−$59.4K −$6.70/SF
NOI
$99.0K $11.16/SF
Area
Colorado Springs, CO
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,980,900
Cap Rate 7%
$1,414,929
Cap Rate 9%
$1,100,500
Alternative Uses
Best Use
Mixed Use
$1.41M
$1.24M – $1.65M
NOI $99,045 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,688 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MX-M zoning and a finished basement complement the existing building and infill site.
Where is this mixed-use property located?
The property is located at 1102 21st Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Approximately 8,875 SF masonry building with finished basement; 0.96‑acre infill site; MX‑M (Mixed‑Use Medium Scale) zoning
