Flex-Style Mixed-Use Commercial
For Sale
$895,000
3672 East Bijou Street, Colorado Springs, CO 80909
Clean flex-style mixed-use building plus small free-standing space on an MX-L zoned lot near Academy.
Property Size5,950 SF
Lot Size0.62 Acres
Price / SF$150.42
Days on Market1678
Property Features for 3672 East Bijou Street
General Information
Standard status
Active
Size
5,950 SF
Lot size
0.62 Acres
Property subtype
Flex, Retail
Zoning
C6
Building Details
Building Size
5,950 SF
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Tim Leigh · License #EA314631
(719) 337-9551
Source:
Hoffleigh
Added: Feb 10, 2022
Changed: Aug 16
Last Checked: Sep 15 at 4:08AM
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
Investment Insights
Based on property information with market context.
The property at 3672 East Bijou Street offers a clean, flex-style, mixed-use commercial building with approximately 5,000 square feet of space. In addition, there is a small, free-standing building of approximately 950 square feet, bringing the total offering to approximately 5,950 square feet. The arrangement supports flexible tenant needs where offices, light industrial activity, or other mixed-use requirements may work within the same commercial setting.
The buildings are located on a 27,000 square foot lot zoned MX-L. The location is described as having easy access to Academy, which can be helpful for day-to-day customer or employee travel depending on how the space is utilized.
This offering is available for sale or lease and may appeal to tenants or buyers looking for a straightforward flex-style setup with two distinct structures on a single lot. The MX-L zoning and mixed-use character of the property can be a practical fit for users that want the convenience of a primary building plus an additional free-standing space for storage, overflow, or a secondary function, subject to applicable zoning and lease terms.
The buildings are located on a 27,000 square foot lot zoned MX-L. The location is described as having easy access to Academy, which can be helpful for day-to-day customer or employee travel depending on how the space is utilized.
This offering is available for sale or lease and may appeal to tenants or buyers looking for a straightforward flex-style setup with two distinct structures on a single lot. The MX-L zoning and mixed-use character of the property can be a practical fit for users that want the convenience of a primary building plus an additional free-standing space for storage, overflow, or a secondary function, subject to applicable zoning and lease terms.
Key Highlights
- Clean flex‑style, mixed‑use commercial building totaling approximately 5,000 SF
- Additional small, free‑standing building of approximately 950 SF (total approximately 5,950 SF)
- Located on a 27,000 SF MX‑L zoned lot
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
$71,596
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
8.00%
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%
$1,431,920
$1.4M
Cap Rate 7%
$1,022,800
$1.0M
Cap Rate 9%
$795,511
$795.5K
Market Conditions
NOI Build-Up for 5,950 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
$107.1K $18.00/SF
− Vacancy
−$4.8K −$0.81/SF
EGI
$102.3K $17.19/SF
− OpEx
−$30.7K −$5.16/SF
NOI
$71.6K $12.03/SF
Area
Colorado Springs, CO
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,431,920
Cap Rate 7%
$1,022,800
Cap Rate 9%
$795,511
Alternative Uses
Best Use
Retail
$1.02M
$895.0K – $1.19M
NOI $71,596 @ 7.0% cap · market cap 8.00%
Second Best
Flex RnD
$818.8K
$716.5K – $955.3K
NOI $57,316 @ 7.0% cap · market cap 6.40%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,258
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Flex space - Clean flex-style mixed-use building plus small free-standing space on an MX-L zoned lot near Academy.
Where is this flex space located?
The property is located at 3672 East Bijou Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Clean flex‑style, mixed‑use commercial building totaling approximately 5,000 SF; Additional small, free‑standing building of approximately 950 SF (total approximately 5,950 SF); Located on a 27,000 SF MX‑L zoned lot
