Free-Standing Industrial Building with
For Sale
Contact for pricing
123 N Union Blvd, Colorado Springs, CO 80909
Remodeled industrial facility with fenced yard access and divisible suites suited to a range of light industrial uses.
Property Size3,000 SF
Price / SF$325
Days on Market364
Property Features for 123 N Union Blvd
General Information
Standard status
Active
Size
3,000 SF
Property subtype
FLEX_R_AND_D
Zoning
MX-L
Site & Location
Neighborhood
Knob Hill
Fenced Yard
Yes
Properties For Sale
at 123 N Union Blvd Contact us123 N Union Boulevard AVAILABLE, Now
Size
2,113 SF
Type
OFFICE
Lease Type
PLUS_UTILITIES
FOR LEASE OR SALE: 123 North Union is a 6,468 square feet free-standing industrial building with a fenced yard. It’s zoned MX-L.
The building is in the process of being totally remodeled to a new shell condition. The entire ground floor is approximately 5,000 square feet plus there is an approximate 1,500 square feet mezzanine. As part of the remodeling, it’s been divided into 2 equally sized spaces known as Suite 100 & Suite 110. The mezzanine is intended for Suite 110. The available lease space (Suite 100 – the south suite) is $3,500 per month. Approximately ½ of the fenced yard behind the building comes as part of the lease space. The building’s roof was newly installed in 2023. There was a 10 year transferrable warranty at installation. Environmental Solutions provided a Phase 1 inspection in 2015, saying, “The assessment has revealed no evidence of a recognized environmental condition in connection with the property.”
The asking sale price is $975,000. The asking lease rates is $2,500 – $3,500 a month + utilities
For a private showing and all the confidential financial details, call Tim Leigh: 719-337-9551, Brian Canady: 719-433-1102 or Holly Trinidad: 719-337-0999
Contact us 123 N. Union Boulevard AVAILABLE, Now
Floor
Bldg
Size
3,000 SF
Type
FLEX_R_AND_D
Lease Type
PLUS_UTILITIES
Sublease
No
For Sale/Lease: A 6,400 SF centrally located, free-standing industrial building with a fenced yard.
The building has approximately 2,400 SF of front area with large display windows and 2,000 SF of warehouse; plus, there is a 2,000 SF of mezzanine. (But, wait, there is more! There is a fenced yard in the back of the building).
The building’s roof was newly installed in 2023. It came with a 10 year transferable warranty. There is a clean Phase 1 inspection report.
The asking price is $975,000 delivered in a shell condition.
The “for lease space” is approximately 3,000 SF. The asking rent is only $3,500/Month + Utilities
For a private showing and all the confidential financial details, call Tim Leigh: 719-337-9551 or Holly Trinidad: 719-337-0999
Contact us
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Tim Leigh · License #EA314631
(719) 337-9551
Source:
Moodyscre
Added: Nov 5, 2025
Changed: Oct 25
Last Checked: Nov 1 at 7:21AM
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 Hoff & Leigh
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Investment Insights
Based on property information with market context.
123 North Union Boulevard presents a free-standing industrial building totaling 6,468 square feet with a fenced yard. The property is being totally remodeled to a new shell condition. The ground floor is approximately 5,000 square feet plus an approximately 1,500 square foot mezzanine, and the layout has been divided into two equally sized spaces known as Suite 100 and Suite 110. The mezzanine is intended for Suite 110, while the available space for leasing is Suite 100 (the south suite).
The building is zoned MX-L. Approximately half of the fenced yard behind the building is included with the lease space. The roof was newly installed in 2023, with a 10-year transferrable warranty at installation. A Phase 1 environmental inspection performed in 2015 reported that the assessment revealed no evidence of a recognized environmental condition in connection with the property.
This configuration can work well for operators that want a free-standing industrial building with a newly remodeled interior shell and access to outdoor space. Suite 100’s ground-floor footprint can support a variety of warehouse and light industrial requirements, with the mezzanine area planned for Suite 110 as part of the broader division. Lease terms referenced are $3,500 per month plus utilities, with private showings and confidential financial details available through the listed contacts.
The building is zoned MX-L. Approximately half of the fenced yard behind the building is included with the lease space. The roof was newly installed in 2023, with a 10-year transferrable warranty at installation. A Phase 1 environmental inspection performed in 2015 reported that the assessment revealed no evidence of a recognized environmental condition in connection with the property.
This configuration can work well for operators that want a free-standing industrial building with a newly remodeled interior shell and access to outdoor space. Suite 100’s ground-floor footprint can support a variety of warehouse and light industrial requirements, with the mezzanine area planned for Suite 110 as part of the broader division. Lease terms referenced are $3,500 per month plus utilities, with private showings and confidential financial details available through the listed contacts.
Key Highlights
- 6,468 SF free‑standing industrial building with a fenced yard and MX‑L zoning
- Currently being totally remodeled to new shell condition; divided into Suite 100 and Suite 110
- Suite 100 available with ~5,000 SF on the ground floor plus ~1,500 SF mezzanine intended for Suite 110
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,057
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,140
$661.1K
Cap Rate 7%
$472,243
$472.2K
Cap Rate 9%
$367,300
$367.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$40.7K $13.56/SF
− Vacancy
−$1.8K −$0.60/SF
EGI
$38.9K $12.96/SF
− OpEx
−$5.8K −$1.94/SF
NOI
$33.1K $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 Rate 5%
$661,140
Cap Rate 7%
$472,243
Cap Rate 9%
$367,300
Alternative Uses
Best Use
Warehouse
$472.2K
$413.2K – $551.0K
NOI $33,057 @ 7.0% cap · market cap 3.39%
Second Best
Flex RnD
$412.8K
$361.2K – $481.7K
NOI $28,899 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,598
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Flex space - Remodeled industrial facility with fenced yard access and divisible suites suited to a range of light industrial uses.
Where is this flex space located?
The property is located at 123 N Union Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 6,468 SF free‑standing industrial building with a fenced yard and MX‑L zoning; Currently being totally remodeled to new shell condition; divided into Suite 100 and Suite 110; Suite 100 available with ~5,000 SF on the ground floor plus ~1,500 SF mezzanine intended for Suite 110
