NNN-Leased Gas
New
For Sale
$1,125,000
3945 Palmer Park Blvd, Colorado Springs, CO 80909
An Alta tenant occupies the property under an absolute triple-net lease.
Property Size2,403 SF
Price / SF$468.16
Days on Market3
Property Features for 3945 Palmer Park Blvd
General Information
Standard status
Active
Size
2,403 SF
Property subtype
Auto Service - Gas-Conv
Lease Type
Absolute Net
Additional Details
Cap Rate
5.75%
Amenities
14.5 years remaining on Absolute NNN Lease
Potential bonus depreciation
Tenant operates 140+ locations
Attractive Low Price Point
Building Details
Building Size
2,403 SF
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Adam Lewis · License #License(s) CO: ER100091205
(303) 328-2000
Source:
Marcusmillichap
Added: Oct 4
Changed: Oct 5
Last Checked: Oct 5 at 3:02PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This gas station at 3945 Palmer Park Blvd in Colorado Springs is leased to Alta under an absolute NNN structure.
Key Highlights
- Leased to Alta
- Absolute NNN lease
- 3945 Palmer Park Blvd, Colorado Springs, CO 80909
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,219
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,380
$664.4K
Cap Rate 7%
$474,557
$474.6K
Cap Rate 9%
$369,100
$369.1K
Market Conditions
NOI Build-Up for 2,403 SF
Gross rent
$46.1K $19.20/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$44.3K $18.43/SF
− OpEx
−$11.1K −$4.61/SF
NOI
$33.2K $13.82/SF
Area
Colorado Springs, CO
Vacancy
4.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,380
Cap Rate 7%
$474,557
Cap Rate 9%
$369,100
Alternative Uses
Best Use
Specialty Retail
$474.6K
$415.2K – $553.7K
NOI $33,219 @ 7.0% cap · market cap 2.95%
Second Best
Retail
$413.1K
$361.4K – $481.9K
NOI $28,915 @ 7.0% cap · market cap 2.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 35%
Leisure 5%
Apparel 2%
McDonald's
Dining
27,743 visits/mo
0.3 miles
Taco Bell
Dining
13,114 visits/mo
0.2 miles
Wendy's
Dining
10,433 visits/mo
0.3 miles
Sinclair
Shops & Services
10,198 visits/mo
0.5 miles
7-Eleven
Shops & Services
8,829 visits/mo
0.5 miles
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 Retail in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - An Alta tenant occupies the property under an absolute triple-net lease.
Where is this gas station located?
The property is located at 3945 Palmer Park Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Leased to Alta; Absolute NNN lease; 3945 Palmer Park Blvd, Colorado Springs, CO 80909
