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    1004 S Tejon St Colorado Springs, CO 80903

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    For Sale
    $650,000

    Retail building leased to a marijuana dispensary through April 2027.

    Lot size:
    0.23 Acres

    Property Features for 1004 S Tejon St

    General Information

    Lot size
    0.23 Acres

    Source: Trent Properties Group Agent Amanda Miller Luciano

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Stand-Alone Retail Building For Sale

    This stand-alone retail building is located in southern downtown. The building is leased to a marijuana dispensary that is pursuing its retail license and has been assured the location meets the requirements for approval. The NNN lease goes through April, 2027 at an 8% cap rate. The tenant would like to sign an extension with continuing annual escalations through April, 2030.
    Insight Report Location Intelligence

    Current Use by Public Records

    Feel State Medical ... Cannabis Store NaturaLeaf Medical Supply Store Williams Soul Food ... Southern Restaurant (Us)

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Law Firm Gym & Fitness

    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
    -104.8245853
    Latitude
    38.8196558

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    FAQs

    What type of property is this?
    Retail space - Retail building leased to a marijuana dispensary through April 2027.
    Where is this retail space located?
    The property is located at 1004 S Tejon St Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Stand-alone retail building in southern downtown.; - Existing NNN lease in place through April 2027, providing immediate income.; - 8% cap rate offers a strong investment return.
    (719) 650-9913
    Request Owner's contact information
    1004 S Tejon St Colorado Springs, CO 80903
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    Colorado Springs, CO 80903
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1004 S Tejon St Colorado Springs, CO 80903
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