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    Citadel Mall Outparcel Ground Lease Title is generated by Realmo AI

    747-795 E Citadel Dr, Colorado Springs, CO

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    0.5 - 2.4 AC pad site available for ground lease.

    Type:RETAIL
    Property size:
    26,478 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $149/SF
    Added:
    Feb 10, 2025
    Days on Market:
    489
    Last Refresh:
    May 20 at 8:30 pm

    Property Features for 747-795 E Citadel Dr

    General Information

    Standard status
    Active
    Size
    26,478 SF
    Lot size
    2.40 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 747-795 E Citadel Dr Contact us

    We can help!

    Listing Contact
    Patrick McGlinchey
    Patrick McGlinchey

    Listing agent Patrick McGlinchey

    Listing office SRS Real Estate Partners | Denver

    Listing date Feb 10, 2025

    Source Moodyscre

    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 SRS Real Estate Partners | Denver

    HighLights

    • Outparcel to the Citadel Mall with high visibility (96 AC, 2.2M visits/year)
    • Pad site available for ground lease, ranging from 0.5 to 2.4 AC
    • Located across from Citadel Crossing, featuring Lowe's, Petsmart, and Burlington Coat Factory
    • Benefits from strong traffic counts on Academy Blvd & Platte Ave

    Overview

    A 0.5 to 2.4 acre pad site is available for ground lease as an outparcel to the Citadel Mall, a 96-acre shopping mall that receives approximately 2.2 million visits annually. The location benefits from strong traffic counts on Academy Boulevard and Platte Avenue. The site is located across the street from Citadel Crossing, a retail center anchored by Lowe's, PetSmart, and Burlington Coat Factory. The property offers a total size of 26478 square feet.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $476.6k $18.00
    − Vacancy −$21.4k −$0.81
    EGI $455.2k $17.19
    − OpEx −$136.5k −$5.16
    NOI $318.6k $12.03
    26,478 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.55M
    $3.98M – $5.31M (±1% cap)
    NOI $318,610 @ 7.0% cap · market cap 8.07%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $5.23M
    $4.58M – $6.10M (±1% cap)
    NOI $366,032 @ 7.0% cap · market cap 9.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.758
    Latitude
    38.8435

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    FAQs

    What type of property is this?
    Shopping mall - 0.5 - 2.4 AC pad site available for ground lease.
    Where is this shopping mall located?
    The property is located at 747-795 E Citadel Dr Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: Outparcel to the Citadel Mall with high visibility (96 AC, 2.2M visits/year); Pad site available for ground lease, ranging from 0.5 to 2.4 AC; Located across from Citadel Crossing, featuring Lowe's, Petsmart, and Burlington Coat Factory
    (210) 303-3149 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Patrick McGlinchey
    Patrick McGlinchey
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