Flexible Mixed-Use Industrial
For Sale
Contact for pricing
2502 E Bijou St, Colorado Springs, CO 80909
Flexible MX-L property with reception, warehouse area, overhead garage door, and fenced paved outdoor storage/parking.
Property Size3,678 SF
Lot Size0.38 Acres
Price / SF$231.10
Days on Market227
Property Features for 2502 E Bijou St
General Information
Standard status
Active
Size
3,678 SF
Class
C
Lot size
0.38 Acres
Property subtype
Industrial, Office
Zoning
MX-L
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$56,950
Additional Details
Cap Rate
6.7%
Fenced Yard
Yes
Drive-In Doors
1
Building Details
Year Built
1961
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Peak Commercial Properties
Listed By:
Jason Castro · License #ER.100092537
(719) 759-9935
Source:
Crexi
Added: Jan 21
Changed: Sep 2
Last Checked: Sep 3 at 8:32AM
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 Peak Commercial Properties
Investment Insights
Based on property information with market context.
2502 E Bijou Street is a flexible mixed-use industrial property with a reception area and warehouse space, supported by an overhead garage door. The county assessor lists 3,678 square feet, with an additional 1,248 square feet of functional basement space that is not included in the recorded square footage.
A 0.38-acre site surrounds the building with fenced and paved outdoor storage or parking, adding practical utility for a range of day-to-day operations. The property is zoned MX-L, which provides long-term flexibility across a broad set of allowable uses.
The existing configuration and improvements support a variety of operational needs, including retail, office, auto repair, construction sales and services, self storage, and other allowable uses.
A 0.38-acre site surrounds the building with fenced and paved outdoor storage or parking, adding practical utility for a range of day-to-day operations. The property is zoned MX-L, which provides long-term flexibility across a broad set of allowable uses.
The existing configuration and improvements support a variety of operational needs, including retail, office, auto repair, construction sales and services, self storage, and other allowable uses.
Key Highlights
- Tenant in place with 6.7% cap rate.
- Zoned MX‑L for long‑term flexibility with a wide range of uses.
- 3,678 SF per county assessor, plus an additional 1,248 SF functional basement space not included in recorded SF.
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
$40,527
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
4.77%
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%
$810,540
$810.5K
Cap Rate 7%
$578,957
$579.0K
Cap Rate 9%
$450,300
$450.3K
Market Conditions
NOI Build-Up for 3,678 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
$49.9K $13.56/SF
− Vacancy
−$2.2K −$0.60/SF
EGI
$47.7K $12.96/SF
− OpEx
−$7.2K −$1.94/SF
NOI
$40.5K $11.02/SF
Area
Colorado Springs, CO
Vacancy
4.40%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$810,540
Cap Rate 7%
$578,957
Cap Rate 9%
$450,300
Alternative Uses
Best Use
Warehouse
$579.0K
$506.6K – $675.5K
NOI $40,527 @ 7.0% cap · market cap 4.77%
Second Best
Office B
$517.2K
$452.6K – $603.4K
NOI $36,205 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$726.4K
$635.6K – $847.4K
NOI $50,845 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible MX-L property with reception, warehouse area, overhead garage door, and fenced paved outdoor storage/parking.
Where is this flex space located?
The property is located at 2502 E Bijou St 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: Tenant in place with 6.7% cap rate.; Zoned MX‑L for long‑term flexibility with a wide range of uses.; 3,678 SF per county assessor, plus an additional 1,248 SF functional basement space not included in recorded SF.
