Single-Tenant Auto
New
For Sale
$2,875,000
2124 E Boulder St, Colorado Springs, CO 80909
Colorado Springs property with a single automotive repair occupant and proximity to the Colorado Springs Airport.
Property Size14,583 SF
Price / SF$197.15
Days on Market3
Property Features for 2124 E Boulder St
General Information
Standard status
Active
Size
14,583 SF
Property subtype
Retail
Building Details
Building Size
14,583 SF
Year Built
1985
Buildings
7
Tenancy
Single
Listing Agency:
Legacy Real Estate Advisors
(248) 892-9691
Listed By:
Rami Gulli · License #MI ##6501453450
(248) 892-9691
Source:
Legacycrea
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 5:28AM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This Colorado Springs commercial property is configured for one automotive repair occupant associated with Caliber Collision. Built in 1985, the improvements include 7 buildings totaling 14,583 SF. The listing identifies a corporate guarantee for the landlord.
Located at 2124 E Boulder St, the property is near Colorado Springs Airport. Demographic information places 14,400+ residents within a 1-mile radius and projects +7.6% population growth from '22 - '27. Caliber Collision is identified as the tenant and is reported to operate 1,200+ locations.
Located at 2124 E Boulder St, the property is near Colorado Springs Airport. Demographic information places 14,400+ residents within a 1-mile radius and projects +7.6% population growth from '22 - '27. Caliber Collision is identified as the tenant and is reported to operate 1,200+ locations.
Key Highlights
- Single‑tenant automotive repair property occupied by Caliber Collision
- 7 buildings totaling 14,583 SF
- Built in 1985
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
$175,477
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
6.10%
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%
$3,509,540
$3.5M
Cap Rate 7%
$2,506,814
$2.5M
Cap Rate 9%
$1,949,744
$1.9M
Market Conditions
NOI Build-Up for 14,583 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
$262.5K $18.00/SF
− Vacancy
−$11.8K −$0.81/SF
EGI
$250.7K $17.19/SF
− OpEx
−$75.2K −$5.16/SF
NOI
$175.5K $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%
$3,509,540
Cap Rate 7%
$2,506,814
Cap Rate 9%
$1,949,744
Alternative Uses
Best Use
Retail
$2.51M
$2.19M – $2.92M
NOI $175,477 @ 7.0% cap · market cap 6.10%
Second Best
Industrial
$1.89M
$1.65M – $2.21M
NOI $132,331 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$2.88M
$2.52M – $3.36M
NOI $201,595 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,047
Businesses Nearby
102k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
Dutch Bros. Coffee
Dining
16,897 visits/mo
0.3 miles
Burger King
Dining
15,207 visits/mo
0.3 miles
Starbucks
Dining
15,191 visits/mo
0.2 miles
Maverik Adventures First Stop
Shops & Services
13,282 visits/mo
0.3 miles
Taco Bell
Dining
12,355 visits/mo
0.3 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Colorado Springs property with a single automotive repair occupant and proximity to the Colorado Springs Airport.
Where is this auto shop located?
The property is located at 2124 E Boulder St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Single‑tenant automotive repair property occupied by Caliber Collision; 7 buildings totaling 14,583 SF; Built in 1985
