Colorado Springs Flex/Industrial
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1420 Aviation Way, Colorado Springs, CO
20,922 SF flex/industrial building on 1.63 AC lot.
Property Size20,922 SF
Lot Size1.63 Acres
Price / SF$172.22
Days on Market790
Property Features for 1420 Aviation Way
General Information
Standard status
Active
Size
20,922 SF
Lot size
1.63 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 1420 Aviation Way Contact us- Floor
- 1
- Size
- 1,883 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
1420 Aviation Way
Property Highlights
• Building 20,922 SF
• Lot Size 1.63 AC
• Estimated Triple...
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Listing Agency:
NAI Highland, LLC
(719) 650-1332
Listed By:
Randy Dowis · License #FA.100088508
(719) 650-1332
Source:
Moodyscre
Added: Jun 24, 2024
Changed: Aug 8
Last Checked: Aug 21 at 6:23AM
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 NAI Highland, LLC
Investment Insights
Based on property information with market context.
This 20,922 square foot building is situated on a 1.63-acre lot. The property is zoned BP | CR AO and has 90% occupancy. It is located with access to Aviation Way & Vapor Trail. Estimated triple nets are $4.46 per square foot.
Key Highlights
- Building size: 20,922 SF
- Lot size: 1.63 AC
- 90% Occupancy
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
$230,537
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
6.40%
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%
$4,610,740
$4.6M
Cap Rate 7%
$3,293,386
$3.3M
Cap Rate 9%
$2,561,522
$2.6M
Market Conditions
NOI Build-Up for 20,922 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
$283.7K $13.56/SF
− Vacancy
−$12.5K −$0.60/SF
EGI
$271.2K $12.96/SF
− OpEx
−$40.7K −$1.94/SF
NOI
$230.5K $11.02/SF
Area
Colorado Springs, CO
Vacancy
4.40%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$4,610,740
Cap Rate 7%
$3,293,386
Cap Rate 9%
$2,561,522
Alternative Uses
Best Use
Warehouse
$3.29M
$2.88M – $3.84M
NOI $230,537 @ 7.0% cap · market cap 6.40%
Second Best
Flex RnD
$2.88M
$2.52M – $3.36M
NOI $201,542 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$4.13M
$3.62M – $4.82M
NOI $289,226 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kat Air Services Inc — 1589 Vapor Trail, Colorado Springs, CO 80916
Frequently Asked Questions
What type of property is this?
Flex space - 20,922 SF flex/industrial building on 1.63 AC lot.
Where is this flex space located?
The property is located at 1420 Aviation Way Colorado Springs, CO.
What is the asking price?
The asking price for this property is $3,603,228.
What are key features of this property?
This property features: Building size: 20,922 SF; Lot size: 1.63 AC; 90% Occupancy
