Side-by-Side Duplex with
New
For Sale
$650,000
2626 W Pikes Peak Ave, Colorado Springs, CO 80904
Two private residences combine flexible room layouts, fireplaces, laundry, outdoor decks, and mountain views.
Property Size2,656 SF
Price / SF$244.73
Days on Market4
Property Features for 2626 W Pikes Peak Ave
General Information
Standard status
Active
Size
2,656 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR + den/office, 2BA
Multifamily Units
2
Amenities
gas fireplace
in-unit laundry
private entrances
decks
updated flooring
breakfast-bar seating
dual sinks
walk-in shower
mountain views
Building Details
Year Built
1995
Buildings
1
Construction
stucco
Listed By:
Area Specialist
(719) 454-8001
Source:
Ashfordrealtygroup
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 1 at 6:11PM
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 Area Specialist
Investment Insights
Based on property information with market context.
Built in 1995, this side-by-side duplex contains two 1,328-square-foot residences totaling 2,656 finished square feet. Each unit includes two bedrooms, a non-conforming third bedroom or office, two bathrooms, an open living and dining area, a gas fireplace, in-unit laundry, and an attached two-car garage. Private entrances and decks extend each unit’s living area toward the landscaped hillside.
The property has four total garage spaces, a stucco exterior, updated flooring, generous storage, and functional kitchens with breakfast-bar seating. Large windows bring natural light into both homes and frame mountain views. One residence also includes an updated kitchen and a primary bathroom with dual sinks and a walk-in shower.
The property has four total garage spaces, a stucco exterior, updated flooring, generous storage, and functional kitchens with breakfast-bar seating. Large windows bring natural light into both homes and frame mountain views. One residence also includes an updated kitchen and a primary bathroom with dual sinks and a walk-in shower.
Key Highlights
- Two 1,328‑square‑foot units with 2,656 finished square feet total
- Each unit includes two bedrooms plus a non‑conforming 3rd bedroom or office
- Two bathrooms, in‑unit laundry, gas fireplace, and attached two‑car garage per unit
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
$34,787
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
5.35%
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%
$695,740
$695.7K
Cap Rate 7%
$496,957
$497.0K
Cap Rate 9%
$386,522
$386.5K
Market Conditions
NOI Build-Up for 2,656 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
$52.6K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.7K $18.71/SF
− OpEx
−$14.9K −$5.61/SF
NOI
$34.8K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /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%
$695,740
Cap Rate 7%
$496,957
Cap Rate 9%
$386,522
Alternative Uses
Best Use
Multifamily LT 5
$497.0K
$434.8K – $579.8K
NOI $34,787 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$460.6K
$403.0K – $537.3K
NOI $32,239 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$524.5K
$459.0K – $612.0K
NOI $36,717 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two private residences combine flexible room layouts, fireplaces, laundry, outdoor decks, and mountain views.
Where is this duplex located?
The property is located at 2626 W Pikes Peak Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two 1,328‑square‑foot units with 2,656 finished square feet total; Each unit includes two bedrooms plus a non‑conforming 3rd bedroom or office; Two bathrooms, in‑unit laundry, gas fireplace, and attached two‑car garage per unit
