Fully-Leased Neighborhood Shopping
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2107 Templeton Gap Rd, Colorado Springs, CO 80907
Stabilized, 100% fully-leased neighborhood center with 11 local tenants and 14,730 SF in Colorado Springs.
Property Size14,730 SF
Price / SF$268.16
Days on Market572
Property Features for 2107 Templeton Gap Rd
General Information
Standard status
Active
Size
14,730 SF
Property subtype
RETAIL
Listing Agency:
Trent Properties Group
(719) 630-1600
Listed By:
Amanda Miller Luciano · License #FA.100049326
(719) 650-9913
Source:
Moodyscre
Added: Feb 18, 2025
Changed: Aug 16
Last Checked: Sep 13 at 11:29AM
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 Trent Properties Group
Investment Insights
Based on property information with market context.
T-Gap Marketplace is a stabilized neighborhood shopping center that is 100% fully-leased and supported by 11 local tenants. The property totals 14,730 SF and is positioned to serve day-to-day neighborhood demand with a diversified tenant mix.
Tenants listed include Joey's Pizza, Salon 21, All Proper Tattooing, Pride N Joy Pet Grooming, Wildflower Studio, Whistle Pig Brewing, Sasquatch Cookies, Hot Asana Yoga, Rohr Coffee, and Reed Chiropractic.
The center is located in the Patty Jewett area just northeast of Downtown Colorado Springs, with the subject property at 2107 Templeton Gap Rd, Colorado Springs, CO 80907.
Tenants listed include Joey's Pizza, Salon 21, All Proper Tattooing, Pride N Joy Pet Grooming, Wildflower Studio, Whistle Pig Brewing, Sasquatch Cookies, Hot Asana Yoga, Rohr Coffee, and Reed Chiropractic.
The center is located in the Patty Jewett area just northeast of Downtown Colorado Springs, with the subject property at 2107 Templeton Gap Rd, Colorado Springs, CO 80907.
Key Highlights
- Stabilized neighborhood shopping center, 100% fully‑leased
- 11 local tenants listed
- 14,730 SF shopping center
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
$177,246
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
4.49%
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%
$3,544,920
$3.5M
Cap Rate 7%
$2,532,086
$2.5M
Cap Rate 9%
$1,969,400
$2.0M
Market Conditions
NOI Build-Up for 14,730 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
$265.1K $18.00/SF
− Vacancy
−$11.9K −$0.81/SF
EGI
$253.2K $17.19/SF
− OpEx
−$76.0K −$5.16/SF
NOI
$177.2K $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 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%
$3,544,920
Cap Rate 7%
$2,532,086
Cap Rate 9%
$1,969,400
Alternative Uses
Best Use
Retail
$2.53M
$2.22M – $2.95M
NOI $177,246 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.39M
NOI $203,628 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 72%
Home Improvements & Furnishings 20%
Shops & Services 8%
Safeway
Groceries
24,929 visits/mo
0.4 miles
Ace Hardware Bon
Home Improvements & Furnishings
6,968 visits/mo
0.5 miles
The UPS Store
Shops & Services
2,928 visits/mo
0.5 miles
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
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
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Frequently Asked Questions
What type of property is this?
Shopping center - Stabilized, 100% fully-leased neighborhood center with 11 local tenants and 14,730 SF in Colorado Springs.
Where is this shopping center located?
The property is located at 2107 Templeton Gap Rd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Stabilized neighborhood shopping center, 100% fully‑leased; 11 local tenants listed; 14,730 SF shopping center
