Well-Maintained Retail Strip
For Sale
Contact for pricing
17-21 North Circle Drive, Colorado Springs, CO 80909
Retail strip center with three tenants and combined annual rent of $82,560.
Property Size5,920 SF
Lot Size0.49 Acres
Price / SF$143.58
Days on Market101
Property Features for 17-21 North Circle Drive
General Information
Standard status
Active
Size
5,920 SF
Lot size
0.49 Acres
Property subtype
Retail
Zoning
MX-M-CU
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$35,396
Building Details
Year Built
1977
Tenancy
Multi
Listing Agency:
Hoff & Leigh Colorado Springs
Listed By:
Tim Leigh · License #CO EA314631
(719) 337-9551
Source:
Crexi
Added: Jul 8
Changed: Oct 10
Last Checked: Oct 16 at 6:51AM
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 Hoff & Leigh Colorado Springs
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a 5,920-square-foot retail strip center described by the El Paso County Tax Assessor. The center is well maintained and has three tenants generating $6,880 per month, totaling $82,560 in combined annual rent. The property’s reported operating expenses include taxes, insurance, utilities, and maintenance (including snow removal, trash service, and misc.), along with property management estimated at 10%. The resulting reported net operating income is $35,525.
The site consists of a 21,257-square-foot lot and is zoned MX-M-CU, which allows for a variety of uses, with the property primarily zoned for retail. The asking price is $850,000, reflecting $143.58 per square foot based on the assessor-stated building size.
The site consists of a 21,257-square-foot lot and is zoned MX-M-CU, which allows for a variety of uses, with the property primarily zoned for retail. The asking price is $850,000, reflecting $143.58 per square foot based on the assessor-stated building size.
Key Highlights
- 5,920 SF retail strip center described by the El Paso County Tax Assessor
- Three tenants with combined rent of $6,880 per month ($82,560 annual)
- Net operating income of $35,525 based on provided annual taxes, insurance, utilities, and maintenance/property management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,235
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,424,700
$1.4M
Cap Rate 7%
$1,017,643
$1.0M
Cap Rate 9%
$791,500
$791.5K
Market Conditions
NOI Build-Up for 5,920 SF
Gross rent
$106.6K $18.00/SF
− Vacancy
−$4.8K −$0.81/SF
EGI
$101.8K $17.19/SF
− OpEx
−$30.5K −$5.16/SF
NOI
$71.2K $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%
$1,424,700
Cap Rate 7%
$1,017,643
Cap Rate 9%
$791,500
Alternative Uses
Best Use
Retail
$1.02M
$890.4K – $1.19M
NOI $71,235 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,838 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,259
Businesses Nearby
201k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 55%
Shops & Services 25%
Dining 16%
Electronics 3%
Walmart
Superstores
110,386 visits/mo
0.3 miles
Dollar Tree
Shops & Services
16,652 visits/mo
0.4 miles
Wendy's
Dining
12,657 visits/mo
0.4 miles
Wells Fargo
Shops & Services
9,471 visits/mo
0.4 miles
Loaf 'N Jug
Shops & Services
9,259 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with three tenants and combined annual rent of $82,560.
Where is this strip mall located?
The property is located at 17-21 North Circle Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,920 SF retail strip center described by the El Paso County Tax Assessor; Three tenants with combined rent of $6,880 per month ($82,560 annual); Net operating income of $35,525 based on provided annual taxes, insurance, utilities, and maintenance/property management
