Building Details

Building Size 16,413 SF

Listing Agency: Cushman & Wakefield | Colorado Springs Commercial

Listed By: Patrick Kerscher · License #4045627 Show Phone

Source: Cushmanwakefield

Added: Apr 2 Changed: Oct 21 Last Checked: Oct 20 at 5:26PM

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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 Cushman & Wakefield | Colorado Springs Commercial

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This commercial real estate is a retail property located in Colorado Springs, Colorado. The property is intended for use as a shopping center or retail space.

Key Highlights

• Retail property for sale.
• Located in Colorado Springs, Colorado.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$197,498

Cap Rate

6.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,949,960 $3.9M

Cap Rate 7%

$2,821,400 $2.8M

Cap Rate 9%

$2,194,422 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,413 SF

Gross rent

$295.4K $18.00/SF

− Vacancy

−$13.3K −$0.81/SF

EGI

$282.1K $17.19/SF

− OpEx

−$84.6K −$5.16/SF

NOI

$197.5K $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 Rate 5%

$3,949,960

Cap Rate 7%

$2,821,400

Cap Rate 9%

$2,194,422

Alternative Uses

Best Use

Retail

$2.82M

$2.47M – $3.29M (±1% cap)

NOI $197,498 @ 7.0% cap · market cap 6.07%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.24M

$2.84M – $3.78M (±1% cap)

NOI $226,893 @ 7.0% cap · market cap 6.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Yellow Mountain Tea ... Restaurant Merlin's Realm (Bike/Boat/Book/etc) Store Yeden CBD Department Store Whimsy Well Gym & Fitness Center Watergirls Wellness Physician

Suggested Use

Top Pick Dental Office Law Firm Catering Service Home Appliance Store (Bike/Boat/Book/etc) Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,347

Businesses Nearby

113k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 74% Shops & Services 20% Apparel 6%

Rudy's Country Store & Bar-B-Q Dining

34,323 visits/mo 0.4 miles

McDonald's Dining

18,618 visits/mo 0.4 miles

Taco Bell Dining

11,829 visits/mo 0.4 miles

Wendy's Dining

9,943 visits/mo 0.5 miles

Conoco Shops & Services

6,613 visits/mo 0.4 miles

Demographics for 80904, CO

20,986

Population

11,578

Households

1.8

Avg Household Size

47

Median Age

45%

College-Educated

96%

High-School Grad

11.2 sq mi

ZIP Area

1,874

Density / Sq Mi

$69,566

Median Household Income

$44,494

Median Earnings

$1,417

Median Rent

$413,400

Median Home Value

Market

Vacancy Rate% for Retail in Colorado Springs, CO

5.9% 2020

5.5% 2021

5% 2022

6.3% 2023

6.4% 2024

6.2% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Shopping center - Retail property for sale in Colorado Springs, Colorado.

Where is this shopping center located?

The property is located at 2616 W Colorado Ave Colorado Springs, CO.

What is the asking price?

The asking price for this property is $3,254,385.

What are key features of this property?

This property features: Retail property for sale.; Located in Colorado Springs, Colorado.