Storefront Retail
New
For Sale
$1,400,000
2339 E Platte Pl, Colorado Springs, CO 80909
MX-L zoning supports commercial and mixed-use use potential near Academy Boulevard and Interstate 25.
Property Size7,680 SF
Days on Market6
Property Features for 2339 E Platte Pl
General Information
Standard status
Active
Size
7,680 SF
Property subtype
Retail
Zoning
MX-L
Additional Details
Highway Access
Yes
Building Details
Building Size
7,680 SF
Year Built
1949
Listing Agency:
Pinnacle Real Estate Advisors
Listed By:
Ellie Stanton · License #100110206
(719) 373-7313
Source:
Pinnaclerea
Added: Sep 22
Last Checked: Sep 26 at 4:14AM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
Built in 1949, this storefront property is positioned for either single-tenant or multi-tenant occupancy. The asset carries MX-L zoning, supporting commercial and mixed-use use potential. Its configuration is suited to an owner-user seeking a property with flexible occupancy possibilities.
The property is located near Academy Boulevard and Interstate 25, with access to surrounding commercial corridors. Nearby businesses represent retail, office, automotive, and service-oriented uses, creating an established commercial setting.
The property is located near Academy Boulevard and Interstate 25, with access to surrounding commercial corridors. Nearby businesses represent retail, office, automotive, and service-oriented uses, creating an established commercial setting.
Key Highlights
- MX‑L zoning with commercial and mixed‑use use potential
- Built in 1949
- Suitable for single‑tenant or multi‑tenant occupancy
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
$92,413
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
6.60%
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%
$1,848,260
$1.8M
Cap Rate 7%
$1,320,186
$1.3M
Cap Rate 9%
$1,026,811
$1.0M
Market Conditions
NOI Build-Up for 7,680 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
$138.2K $18.00/SF
− Vacancy
−$6.2K −$0.81/SF
EGI
$132.0K $17.19/SF
− OpEx
−$39.6K −$5.16/SF
NOI
$92.4K $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%
$1,848,260
Cap Rate 7%
$1,320,186
Cap Rate 9%
$1,026,811
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,413 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,168 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,032
Businesses Nearby
100k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 36%
Dutch Bros. Coffee
Dining
16,897 visits/mo
0.4 miles
Burger King
Dining
15,207 visits/mo
0.5 miles
Starbucks
Dining
15,191 visits/mo
0.4 miles
Maverik Adventures First Stop
Shops & Services
13,282 visits/mo
0.4 miles
Taco Bell
Dining
12,355 visits/mo
0.5 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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - MX-L zoning supports commercial and mixed-use use potential near Academy Boulevard and Interstate 25.
Where is this storefront property located?
The property is located at 2339 E Platte Pl Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: MX‑L zoning with commercial and mixed‑use use potential; Built in 1949; Suitable for single‑tenant or multi‑tenant occupancy
