Mixed-Use Property with
New
For Sale
$590,000
1532 W Colorado Ave, Colorado Springs, CO 80904
A remodeled upstairs residence complements vacant ground-floor commercial space zoned MX-M.
Property Size3,488 SF
Price / SF$287.80
Days on Market2
Property Features for 1532 W Colorado Ave
General Information
Standard status
Active
Size
3,488 SF
Property subtype
Commercial
Zoning
MX-M
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/2BA + office
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,333
Amenities
washer/dryer hookups
Building Details
Building Size
3,488 SF
Year Built
1968
Buildings
1
Stories
2
Units
3
Listing Agency:
Pink Realty
Listed By:
Monica Breckenridge · License #100039396
(719) 888-7465
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:09PM
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 Pink Realty
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Investment Insights
Based on property information with market context.
This mixed-use property pairs approximately 2,050 square feet of vacant retail space on the main level with a remodeled 1,453-square-foot apartment above. The residence has two bedrooms, a separate office, two bathrooms, washer and dryer hookups, and large closets. Existing drive-through lanes serve the commercial portion, and the site includes an illuminated monument sign.
The property occupies the corner of West Colorado Avenue and 16th Street in Old Colorado City. A nearby segment southeast of 17th Street recorded approximately 11,420 vehicles per day in 2025 AADT data. The property is zoned MX-M.
The property occupies the corner of West Colorado Avenue and 16th Street in Old Colorado City. A nearby segment southeast of 17th Street recorded approximately 11,420 vehicles per day in 2025 AADT data. The property is zoned MX-M.
Key Highlights
- Approximately 2,050 square feet of vacant ground‑floor retail space
- Remodeled 1,453‑square‑foot apartment with two bedrooms, a separate office, and two bathrooms
- Existing drive‑through lanes and illuminated monument sign
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,668
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,360
$493.4K
Cap Rate 7%
$352,400
$352.4K
Cap Rate 9%
$274,089
$274.1K
Market Conditions
NOI Build-Up for 2,050 SF
Gross rent
$36.9K $18.00/SF
− Vacancy
−$1.7K −$0.81/SF
EGI
$35.2K $17.19/SF
− OpEx
−$10.6K −$5.16/SF
NOI
$24.7K $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 Rate 5%
$493,360
Cap Rate 7%
$352,400
Cap Rate 9%
$274,089
Alternative Uses
Best Use
Retail
$352.4K
$308.4K – $411.1K
NOI $24,668 @ 7.0% cap · market cap 4.18%
Second Best
Mixed Use
$326.8K
$286.0K – $381.3K
NOI $22,878 @ 7.0% cap · market cap 3.88%
Theoretical Best
Specialty Retail
$404.8K
$354.2K – $472.3K
NOI $28,339 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Conoco
Shops & Services
4,021 visits/mo
0.1 miles
7-Eleven
Shops & Services
3,712 visits/mo
0.1 miles
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
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - A remodeled upstairs residence complements vacant ground-floor commercial space zoned MX-M.
Where is this mixed-use property located?
The property is located at 1532 W Colorado Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Approximately 2,050 square feet of vacant ground‑floor retail space; Remodeled 1,453‑square‑foot apartment with two bedrooms, a separate office, and two bathrooms; Existing drive‑through lanes and illuminated monument sign
