Storage Condo Units with Roll-Up
For Sale
$175,000
2510 Canada Drive, Colorado Springs, CO 80922
Fenced, controlled-access storage condos with roll-up doors, sprinkler systems, and pre-plumbing for private bathrooms.
Property Size1,189 SF
Price / SF$147.18
Days on Market1479
Property Features for 2510 Canada Drive
General Information
Standard status
Active
Size
1,189 SF
Property subtype
Flex, Industrial
Warehouse & Industrial
Drive-In Doors
70
Sprinkler System
Yes
Additional Details
Fenced Yard
Yes
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Tim Leigh · License #EA314631
(719) 337-9551
Source:
Hoffleigh
Added: Sep 1, 2022
Changed: Aug 14
Last Checked: Sep 16 at 1:36PM
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.
This presale project consists of 70 storage commercial condo and man-cave units, planned for delivery by year’s end. Unit sizes range from 810 to 1,190 square feet, with each unit featuring a roll-up door measuring 12' x 16' and a 3' wide man-door. Each unit is designed with an epoxy floor, 125 amp electric service, and a gas furnace. Safety and convenience upgrades include a sprinkler system, a wash sink, and pre-plumbing for a bathroom.
The property is located at the intersection of Peterson and Constitution at 2510 Canada Drive in Colorado Springs. The full project is planned to be fenced with controlled access. On-site amenities include three common bathrooms, plus a dump station and a vehicle wash bay.
These units are well-suited for buyers seeking self-storage or flex-style storage space with built-in utility features such as gas heat, sprinklers, and pre-plumbing for in-unit bathrooms. The controlled-access layout and drive-up roll-up doors support day-to-day loading and unloading, while the planned dump station and vehicle wash bay add practical value for RV and other vehicle-focused storage needs.
The property is located at the intersection of Peterson and Constitution at 2510 Canada Drive in Colorado Springs. The full project is planned to be fenced with controlled access. On-site amenities include three common bathrooms, plus a dump station and a vehicle wash bay.
These units are well-suited for buyers seeking self-storage or flex-style storage space with built-in utility features such as gas heat, sprinklers, and pre-plumbing for in-unit bathrooms. The controlled-access layout and drive-up roll-up doors support day-to-day loading and unloading, while the planned dump station and vehicle wash bay add practical value for RV and other vehicle-focused storage needs.
Key Highlights
- 70 storage commercial real estate condo/man‑cave units with delivery planned by year’s end
- Unit sizes range from 810 SF to 1,190 SF
- Each unit includes a 12' x 16' roll‑up door plus a 3' wide man‑door
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
$13,101
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
7.49%
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%
$262,020
$262.0K
Cap Rate 7%
$187,157
$187.2K
Cap Rate 9%
$145,567
$145.6K
Market Conditions
NOI Build-Up for 1,189 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
$16.1K $13.56/SF
− Vacancy
−$709 −$0.60/SF
EGI
$15.4K $12.96/SF
− OpEx
−$2.3K −$1.94/SF
NOI
$13.1K $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 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%
$262,020
Cap Rate 7%
$187,157
Cap Rate 9%
$145,567
Alternative Uses
Best Use
Warehouse
$187.2K
$163.8K – $218.4K
NOI $13,101 @ 7.0% cap · market cap 7.49%
Second Best
Flex RnD
$163.6K
$143.2K – $190.9K
NOI $11,454 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$234.8K
$205.5K – $274.0K
NOI $16,437 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
70
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 80922, CO
29,392
Population
11,355
Households
2.6
Avg Household Size
34
Median Age
41%
College-Educated
96%
High-School Grad
5.8 sq mi
ZIP Area
5,068
Density / Sq Mi
$107,457
Median Household Income
$51,165
Median Earnings
$1,952
Median Rent
$407,000
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?
Self storage facility - Fenced, controlled-access storage condos with roll-up doors, sprinkler systems, and pre-plumbing for private bathrooms.
Where is this self storage facility located?
The property is located at 2510 Canada Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 70 storage commercial real estate condo/man‑cave units with delivery planned by year’s end; Unit sizes range from 810 SF to 1,190 SF; Each unit includes a 12' x 16' roll‑up door plus a 3' wide man‑door
