2616 W Colorado Avenue, Colorado Springs, CO 80904
Five buildings with mostly open layouts, private bathrooms, and 43 off-street parking spaces, anchored by established restaurant operators.
- Added:
- Jun 30, 2026
- Days on Market:
- 8
- Last Refresh:
- Jul 1 at 3:01 am
Property Features for 2616 W Colorado Avenue
General Information
- Standard status
- Active
- Size
- 16,413 SF
- Lot size
- 0.69 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1982
Listing office Park Avenue Propeties of Colorado Springs (719) 548-9900
Listing date Jun 30, 2026
Source Parkavenuepropertiesco.idxbroker
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HighLights
- 5‑building commercial property totaling 16,413 SF, built in phases from 1951 to 1982
- Zoned Colorado Springs Commercial MX‑M
- 30,000 SF site with 43 off‑street parking spaces
- Mostly open floor plans, with most units featuring a private bathroom
- Anchored by established tenants Jake & Telly’s Greek restaurant and Yellow Mountain Tea House
Overview
The site is approximately 30,000 square feet and is zoned Colorado Springs Commercial MX-M. The offering includes 43 off-street parking spaces, with additional parking described as nearby city lot availability.
With anchoring by Jake & Telly’s Greek restaurant and Yellow Mountain Tea House, the center presents an existing restaurant-oriented tenant mix. For buyers evaluating an owner-operator or redevelopment plan, the combination of multiple buildings, mostly open interiors, private bathroom availability in most units, and on-site parking can help streamline tenant fit across varied storefront and dining uses within the MX-M zoning framework.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $315.1k | $19.20 |
| − Vacancy | −$12.6k | −$0.77 |
| EGI | $302.5k | $18.43 |
| − OpEx | −$75.6k | −$4.61 |
| NOI | $226.9k | $13.82 |
Alternative Uses
Current Use by Public Records
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- Shop Old Colorado City — 21st - 28th Street on, Colorado Ave, Colorado Springs, CO 80904
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.86452
- Latitude
- 38.848781
