Old Colorado Square Retail
For Sale
Contact for pricing
2616 W Colorado Ave, Colorado Springs, CO 80904
For sale retail shopping center totaling 16,413 square feet, owned by the same party since 1994.
Property Size16,413 SF
Price / SF$192.19
Days on Market359
Property Features for 2616 W Colorado Ave
General Information
Standard status
Active
Size
16,413 SF
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield | Colorado Springs Commercial
(719) 321-8162
Listed By:
Patrick Kerscher · License #4045627
(719) 321-8162
Source:
Moodyscre
Added: Aug 19, 2025
Changed: Aug 11
Last Checked: Aug 11 at 12:51AM
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
Investment Insights
Based on property information with market context.
Old Colorado Square is a retail shopping center featuring storefront-style space. The property is for sale and has been owned by the same party since 1994, reflecting long-term, consistent ownership.
The center is positioned in the Old Colorado City area, which the seller describes as a historic and walkable neighborhood supported by local shops and restaurants. The surrounding district is also described as benefiting from steady year-round foot traffic from both residents and visitors.
With 16,413 square feet of total retail area, the property may be suited for buyers seeking a dedicated neighborhood retail asset within the Old Colorado City retail environment.
The center is positioned in the Old Colorado City area, which the seller describes as a historic and walkable neighborhood supported by local shops and restaurants. The surrounding district is also described as benefiting from steady year-round foot traffic from both residents and visitors.
With 16,413 square feet of total retail area, the property may be suited for buyers seeking a dedicated neighborhood retail asset within the Old Colorado City retail environment.
Key Highlights
- Retail shopping center for sale totaling 16,413 SF
- Owned by the same party since 1994
- Located in Old Colorado City, Colorado Springs
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
$197,498
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
6.26%
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%
$3,949,960
$3.9M
Cap Rate 7%
$2,821,400
$2.8M
Cap Rate 9%
$2,194,422
$2.2M
Market Conditions
NOI Build-Up for 16,413 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
$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 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%
$3,949,960
Cap Rate 7%
$2,821,400
Cap Rate 9%
$2,194,422
Alternative Uses
Best Use
Retail
$2.82M
$2.47M – $3.29M
NOI $197,498 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.24M
$2.84M – $3.78M
NOI $226,893 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - For sale retail shopping center totaling 16,413 square feet, owned by the same party since 1994.
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 $3,154,385.
What are key features of this property?
This property features: Retail shopping center for sale totaling 16,413 SF; Owned by the same party since 1994; Located in Old Colorado City, Colorado Springs
