Retail Building with Parking
For Sale
Contact for pricing
2-14 E Bijou St, Colorado Springs, CO 80903
Multi-tenant retail building plus an adjacent parking lot at a corner near I-25 entrance to downtown.
Property Size7,640 SF
Lot Size0.33 Acres
Price / SF$354.38
Days on Market40
Property Features for 2-14 E Bijou St
General Information
Standard status
Active
Size
7,640 SF
Lot size
0.33 Acres
Property subtype
RETAIL
Zoning
FBZ-COR
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Olive Real Estate Partners, Inc.
(719) 660-2001
Listed By:
Ingrid Richter · License #EA.001318416
(719) 660-2001
Source:
Moodyscre
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 31 at 2:36AM
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 Olive Real Estate Partners, Inc.
Investment Insights
Based on property information with market context.
This two-parcel corner assemblage combines a 7,640 SF multi-tenant retail building with an adjacent 5,625 SF parking lot. The property is offered with in-place income from the retail building and additional development flexibility through the nearby parking parcel.
The assemblage is positioned for easy access to and from I-25 with visibility at the Downtown Colorado Springs entrance. It is located between Hilton Garden Inn and a city parking garage, near Tejon Street’s dining, retail, and entertainment corridor, as well as Acacia Park.
Zoned FBZ-COR (Form Based Zone – Corridor), the site allows mixed-use development. The property also lies within both an Opportunity Zone and an Enterprise Zone, with the Opportunity Zone incentive expiring October 2026 and Enterprise Zone programs including state income tax credits and sales and use tax exemptions for specific business investments.
The assemblage is positioned for easy access to and from I-25 with visibility at the Downtown Colorado Springs entrance. It is located between Hilton Garden Inn and a city parking garage, near Tejon Street’s dining, retail, and entertainment corridor, as well as Acacia Park.
Zoned FBZ-COR (Form Based Zone – Corridor), the site allows mixed-use development. The property also lies within both an Opportunity Zone and an Enterprise Zone, with the Opportunity Zone incentive expiring October 2026 and Enterprise Zone programs including state income tax credits and sales and use tax exemptions for specific business investments.
Key Highlights
- 14,250 SF, 2‑parcel corner assemblage at the I‑25 entrance to Downtown Colorado Springs
- 7,640 SF multi‑tenant retail building at 8‑14 E Bijou St with current income of about $100,000/yr
- Adjacent 5,625 SF parking lot at 2 E Bijou St for immediate development potential
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
$91,932
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
3.40%
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%
$1,838,640
$1.8M
Cap Rate 7%
$1,313,314
$1.3M
Cap Rate 9%
$1,021,467
$1.0M
Market Conditions
NOI Build-Up for 7,640 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
$137.5K $18.00/SF
− Vacancy
−$6.2K −$0.81/SF
EGI
$131.3K $17.19/SF
− OpEx
−$39.4K −$5.16/SF
NOI
$91.9K $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%
$1,838,640
Cap Rate 7%
$1,313,314
Cap Rate 9%
$1,021,467
Alternative Uses
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $91,932 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,615 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,834
Businesses Nearby
112k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 18%
Hotels & Casinos 9%
Electronics 2%
McDonald's
Dining
25,596 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
16,776 visits/mo
0.5 miles
Taco Bell
Dining
10,363 visits/mo
0.5 miles
Carl's Jr.
Dining
9,767 visits/mo
0.2 miles
Wendy's
Dining
8,827 visits/mo
0.4 miles
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 Retail in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant retail building plus an adjacent parking lot at a corner near I-25 entrance to downtown.
Where is this retail space located?
The property is located at 2-14 E Bijou St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,707,500.
What are key features of this property?
This property features: 14,250 SF, 2‑parcel corner assemblage at the I‑25 entrance to Downtown Colorado Springs; 7,640 SF multi‑tenant retail building at 8‑14 E Bijou St with current income of about $100,000/yr; Adjacent 5,625 SF parking lot at 2 E Bijou St for immediate development potential
