Prime Commercial Event
For Sale
$1,800,000
14275 S State Highway 115, Colorado Springs, CO 80926
Versatile commercial property near Colorado Springs with event potential.
Property Size6,027 SF
Lot Size7.52 Acres
Price / SF$298.66
Days on Market223
Property Features for 14275 S State Highway 115
General Information
Standard status
Active
Size
6,027 SF
Lot size
7.52 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,497
Building Details
Year Built
1973
Listing Agency:
GREAT WESTERN RANCH AND LAND, LLC
(719) 659-7598
Listed By:
MANUEL TRUJILLO · License #100075311
(877) 497-2624
Source:
Corcoran
Added: Jan 24
Changed: Sep 3
Last Checked: Sep 2 at 5:59PM
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 GREAT WESTERN RANCH AND LAND, LLC
Investment Insights
Based on property information with market context.
The White Horse property, located minutes south of Colorado Springs along Highway 115, offers a commercial opportunity. The property includes over 7 acres of land within CR zoning, suitable for business, recreational, and event-oriented uses. The expansive building provides over 6,000 square feet and is configured with a commercial kitchen, open dining area, multiple restrooms, a bar area, and a large ballroom-style space. This makes it adaptable for continued restaurant use, event hosting, or venue development. The grounds feature a pond and open space with potential for RV parking, campers, and possibly tiny homes, subject to zoning and approvals. Formerly operated as a restaurant, this property offers potential for a wedding venue, special events destination, or a mixed-use commercial concept. It combines location, acreage, and infrastructure.
Key Highlights
- Prime location minutes south of Colorado Springs on Highway 115.
- Over 7 acres of CR‑zoned land suitable for various commercial uses.
- 6,000+ sq ft building with commercial kitchen, dining area, bar, restrooms, and ballroom.**
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
$83,317
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
4.63%
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%
$1,666,340
$1.7M
Cap Rate 7%
$1,190,243
$1.2M
Cap Rate 9%
$925,744
$925.7K
Market Conditions
NOI Build-Up for 6,027 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
$115.7K $19.20/SF
− Vacancy
−$4.6K −$0.77/SF
EGI
$111.1K $18.43/SF
− OpEx
−$27.8K −$4.61/SF
NOI
$83.3K $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 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%
$1,666,340
Cap Rate 7%
$1,190,243
Cap Rate 9%
$925,744
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,317 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80926, CO
1,517
Population
729
Households
2.1
Avg Household Size
48
Median Age
38%
College-Educated
99%
High-School Grad
78.1 sq mi
ZIP Area
19
Density / Sq Mi
$138,950
Median Household Income
$55,217
Median Earnings
$780
Median Rent
$579,100
Median Home Value
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Versatile commercial property near Colorado Springs with event potential.
Where is this conventional restaurant located?
The property is located at 14275 S State Highway 115 Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location minutes south of Colorado Springs on Highway 115.; Over 7 acres of CR‑zoned land suitable for various commercial uses.; 6,000+ sq ft building with commercial kitchen, dining area, bar, restrooms, and ballroom.**
