Automotive Flex Bay
For Sale
Contact for pricing
2235-2255 Spectra Dr, Colorado Springs, CO 80904
Private automotive bays offer finished concrete floors, a restroom, and a large 14-foot overhead door.
Property Size1,152 SF
Price / SF$347.22
Days on Market860
Property Features for 2235-2255 Spectra Dr
General Information
Standard status
Active
Size
1,152 SF
Property subtype
INDUSTRIAL
Additional Details
Business Included
No
Drive-In Doors
1
Amenities
mezzanine
stairway
finished concrete flooring
restroom
gated community
Listing Agency:
Thrive Commercial Partners
(719) 530-4400
Listed By:
Logan Harrison · License #100053803
(719) 314-6833
Source:
Moodyscre
Added: May 8, 2024
Changed: Sep 5
Last Checked: Sep 13 at 11:55AM
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 Thrive Commercial Partners
Investment Insights
Based on property information with market context.
This for-sale automotive flex suite is designed as a private bay within a dedicated automotive development. Each bay includes finished concrete flooring throughout, a spacious restroom, and a huge 14-foot overhead door for vehicle access. An optional 340-square-foot mezzanine above the garage floor is available, along with a stairway to reach the upper area.
The property is located at 2235-2255 Spectra Dr in Colorado Springs, within Colorado’s newest “My Car Barn” gated community development geared toward automotive enthusiasts.
Suites are currently offered starting at 1,152 square feet, with private-bay configurations intended to support vehicle storage and hands-on use in an organized, gated setting.
The property is located at 2235-2255 Spectra Dr in Colorado Springs, within Colorado’s newest “My Car Barn” gated community development geared toward automotive enthusiasts.
Suites are currently offered starting at 1,152 square feet, with private-bay configurations intended to support vehicle storage and hands-on use in an organized, gated setting.
Key Highlights
- Private automotive bays in Colorado’s My Car Barn development, with units starting at 1,152 SF
- Suite amenities include finished concrete flooring throughout and a spacious restroom
- Large 14‑foot overhead door for vehicle access
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
$13,862
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
3.47%
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%
$277,240
$277.2K
Cap Rate 7%
$198,029
$198.0K
Cap Rate 9%
$154,022
$154.0K
Market Conditions
NOI Build-Up for 1,152 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
$20.7K $18.00/SF
− Vacancy
−$933 −$0.81/SF
EGI
$19.8K $17.19/SF
− OpEx
−$5.9K −$5.16/SF
NOI
$13.9K $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%
$277,240
Cap Rate 7%
$198,029
Cap Rate 9%
$154,022
Alternative Uses
Best Use
Retail
$198.0K
$173.3K – $231.0K
NOI $13,862 @ 7.0% cap · market cap 3.47%
Second Best
Flex RnD
$158.5K
$138.7K – $185.0K
NOI $11,097 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$227.5K
$199.1K – $265.4K
NOI $15,925 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
Median Home Value
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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 - Private automotive bays offer finished concrete floors, a restroom, and a large 14-foot overhead door.
Where is this flex space located?
The property is located at 2235-2255 Spectra Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Private automotive bays in Colorado’s My Car Barn development, with units starting at 1,152 SF; Suite amenities include finished concrete flooring throughout and a spacious restroom; Large 14‑foot overhead door for vehicle access
