Multi-Building Shopping
For Sale
$3,154,385
2616 W Colorado Avenue, Colorado Springs, CO 80904
Commercial, Colorado Springs, CO
Property Size16,413 SF
Lot Size0.69 Acres
Price / SF$192.19
Days on Market134
Property Features for 2616 W Colorado Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Standard status
Active
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
36547
Building Details
Year built
1982
Listing Agency:
McGraw Pikes Peak Group
(719) 634-0500
Listed By:
Chuck Armstrong
(719) 231-3545
Added: Jun 9
Changed: Aug 28
Last Checked: Oct 20 at 1:06AM
MLS# 8155017
Copyright © 2026 elevateMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This shopping center at 2616 W Colorado Avenue in Colorado Springs comprises five buildings totaling 16,413 square feet on a 30,000-square-foot site. Construction dates are 1951, 1951, 1975, 1981, and 1982. The property is zoned Colorado Springs Commercial MX-M and offers mostly open floor plans, with private bathrooms in most units.
The center includes 43 off-street parking spaces and is near a City Lot. Existing anchors include Jake & Telly's Greek restaurant and Yellow Mountain Tea House, adding established commercial activity within the property. The multi-building configuration supports a range of retail, restaurant, and other commercial space arrangements within the center.
The center includes 43 off-street parking spaces and is near a City Lot. Existing anchors include Jake & Telly's Greek restaurant and Yellow Mountain Tea House, adding established commercial activity within the property. The multi-building configuration supports a range of retail, restaurant, and other commercial space arrangements within the center.
Key Highlights
- 16,413 square feet across 5 buildings
- 30,000‑square‑foot site per assessor
- Zoned Colorado Springs Commercial MX‑M
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,893
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,537,860
$4.5M
Cap Rate 7%
$3,241,329
$3.2M
Cap Rate 9%
$2,521,033
$2.5M
Market Conditions
NOI Build-Up for 16,413 SF
Gross rent
$315.1K $19.20/SF
− Vacancy
−$12.6K −$0.77/SF
EGI
$302.5K $18.43/SF
− OpEx
−$75.6K −$4.61/SF
NOI
$226.9K $13.82/SF
Area
Colorado Springs, CO
Vacancy
4.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,537,860
Cap Rate 7%
$3,241,329
Cap Rate 9%
$2,521,033
Alternative Uses
Best Use
Specialty Retail
$3.24M
$2.84M – $3.78M
NOI $226,893 @ 7.0% cap · market cap 7.19%
Second Best
Retail
$2.82M
$2.47M – $3.29M
NOI $197,498 @ 7.0% cap · market cap 6.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Colorado Springs, CO
Similar Off Market Nearby
- Shop Old Colorado City — 21st - 28th Street on, Colorado Ave, Colorado Springs, CO 80904
- Old Town Plaza — 2501 W Colorado Ave, Colorado Springs, CO 80904
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- Coinstar Kiosk - Bitcoin ATM — Safeway, 3275 W Colorado Ave, Colorado Springs, CO 80904
Frequently Asked Questions
What type of property is this?
Shopping center - Five-building commercial center with open layouts, private bathrooms, established restaurant anchors, and dedicated off-street parking.
Where is this shopping center located?
The property is located at 2616 W Colorado Avenue 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: 16,413 square feet across 5 buildings; 30,000‑square‑foot site per assessor; Zoned Colorado Springs Commercial MX‑M
