1824 W Colorado Ave, Colorado Springs, CO
Restored Victorian with flexible layout for retail, office, or residential.
- Added:
- Jul 24, 2024
- Days on Market:
- 690
- Last Refresh:
- May 20 at 8:41 pm
Property Features for 1824 W Colorado Ave
General Information
- Standard status
- Active
- Size
- 3,219 SF
- Lot size
- 0.17 Acres
- Property subtype
- RETAIL
Properties For Sale
at 1824 W Colorado Ave Contact usListing agent Sarah J Humbargar License #FA100084770 (719) 339-0712
Listing office Shift Real Estate (719) 339-0712
Listing date Jul 24, 2024
Source Moodyscre
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 Shift Real Estate
HighLights
- MX‑M zoning allows for a variety of uses.
- Restored Victorian residence built in 1888 with modern updates.
- Includes a separate 1 bedroom + loft ADU (cottage) currently leased through May 2025, offering immediate income potential.
- Recent renovations include a new kitchen/break room (2024), new sewer line (2023), newer boiler (2020), roof (2017), and foundation improvements (2024).
- Main building offers a flexible layout suitable for commercial, income generating, or live/work arrangements.
- Professionally designed, low‑maintenance outdoor living space with courtyard fountain and mature landscaping.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.9k | $18.00 |
| − Vacancy | −$2.6k | −$0.81 |
| EGI | $55.3k | $17.19 |
| − OpEx | −$16.6k | −$5.16 |
| NOI | $38.7k | $12.03 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Sweetwater a Flower Market — 2419 W Colorado Ave, Colorado Springs, CO 80904
- Privé Events — 2708 West Colorado Ave, Unit C, Colorado Springs, CO 80904
- Club Flower — 2752 Colorado Ave, Colorado Springs, CO 80904
- Design Works A Floral Studio — 2725 Ore Mill Rd, Colorado Springs, CO 80904
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.853
- Latitude
- 38.8419