Colorado Springs Commercial
For Sale
$599,000
707 E Moreno Avenue, Colorado Springs, CO 80903
3,409 SF space on a 17,110 SF lot.
Property Size3,409 SF
Lot Size0.39 Acres
Price / SF$175.71
Days on Market593
Property Features for 707 E Moreno Avenue
General Information
Standard status
Active
Size
3,409 SF
Lot size
0.39 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,843
Building Details
Year Built
1980
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES SYNERGY REALTY GROUP
(719) 418-5000
Listed By:
CHARLES D'ALESSIO · License #40034206
Source:
Corcoran
Added: Dec 27, 2024
Changed: Aug 8
Last Checked: Aug 10 at 5:39AM
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 BERKSHIRE HATHAWAY HOMESERVICES SYNERGY REALTY GROUP
Investment Insights
Based on property information with market context.
This commercial property in Colorado Springs offers a 3,409 SF space on a 17,110 SF lot. The property is zoned C-5 and CR, providing versatile potential for various entrepreneurial ventures such as an office, salon, or café. The location offers high visibility, convenient access, and a dynamic surrounding area, making it suitable for establishing and growing a business in a thriving market.
Key Highlights
- Prime commercial location in Colorado Springs with high visibility and convenient access.
- Versatile C‑5 and CR zoning allows for a wide range of business types.
- Substantial 3,409 SF space on a 17,110 SF lot provides ample room for business operations and potential expansion.
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
$47,126
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
7.87%
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%
$942,520
$942.5K
Cap Rate 7%
$673,229
$673.2K
Cap Rate 9%
$523,622
$523.6K
Market Conditions
NOI Build-Up for 3,409 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
$65.5K $19.20/SF
− Vacancy
−$2.6K −$0.77/SF
EGI
$62.8K $18.43/SF
− OpEx
−$15.7K −$4.61/SF
NOI
$47.1K $13.82/SF
Area
Colorado Springs, CO
Vacancy
4.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$942,520
Cap Rate 7%
$673,229
Cap Rate 9%
$523,622
Alternative Uses
Best Use
Specialty Retail
$673.2K
$589.1K – $785.4K
NOI $47,126 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$586.0K
$512.8K – $683.7K
NOI $41,020 @ 7.0% cap · market cap 6.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,019
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
Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 3,409 SF space on a 17,110 SF lot.
Where is this commercial land located?
The property is located at 707 E Moreno Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime commercial location in Colorado Springs with high visibility and convenient access.; Versatile C‑5 and CR zoning allows for a wide range of business types.; Substantial 3,409 SF space on a 17,110 SF lot provides ample room for business operations and potential expansion.
