Flex Space with
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2811 North Prospect Street, Colorado Springs, CO 80907
LI-zoned flex property combining warehouse functionality with showroom space along North Prospect Street.
Property Size4,924 SF
Price / SF$202.88
Days on Market47
Property Features for 2811 North Prospect Street
General Information
Standard status
Active
Size
4,924 SF
Class
C
Property subtype
Industrial
Zoning
LI
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1972
Buildings
1
Tenancy
Single
Listing Agency:
Avenue Transactions
Listed By:
Caleb David · License #ER100054639
Source:
Crexi
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 30 at 11:03PM
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 Avenue Transactions
Investment Insights
Based on property information with market context.
This 4,924-square-foot flex property combines warehouse space with a showroom in a building constructed in 1972. The LI zoning designation supports its industrial-oriented positioning, while the existing configuration serves both operational and customer-facing functions.
The property is located at 2811 North Prospect Street in Colorado Springs, within the Fillmore Industrial Submarket. Access to the Fillmore Street interchange on I-25 is nearby, with North Nevada Avenue also minutes away. The corridor provides connections across Colorado Springs and toward the Denver metro area and Pueblo.
The property is located at 2811 North Prospect Street in Colorado Springs, within the Fillmore Industrial Submarket. Access to the Fillmore Street interchange on I-25 is nearby, with North Nevada Avenue also minutes away. The corridor provides connections across Colorado Springs and toward the Denver metro area and Pueblo.
Key Highlights
- 4,924‑square‑foot flex property with warehouse and showroom space
- LI zoning designation
- Constructed in 1972
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
$59,250
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
5.93%
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%
$1,185,000
$1.2M
Cap Rate 7%
$846,429
$846.4K
Cap Rate 9%
$658,333
$658.3K
Market Conditions
NOI Build-Up for 4,924 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
$88.6K $18.00/SF
− Vacancy
−$4.0K −$0.81/SF
EGI
$84.6K $17.19/SF
− OpEx
−$25.4K −$5.16/SF
NOI
$59.3K $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%
$1,185,000
Cap Rate 7%
$846,429
Cap Rate 9%
$658,333
Alternative Uses
Best Use
Retail
$846.4K
$740.6K – $987.5K
NOI $59,250 @ 7.0% cap · market cap 5.93%
Second Best
Warehouse
$775.1K
$678.2K – $904.3K
NOI $54,257 @ 7.0% cap · market cap 5.43%
Theoretical Best
Specialty Retail
$972.4K
$850.9K – $1.13M
NOI $68,069 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
Median Home Value
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - LI-zoned flex property combining warehouse functionality with showroom space along North Prospect Street.
Where is this flex space located?
The property is located at 2811 North Prospect Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 4,924‑square‑foot flex property with warehouse and showroom space; LI zoning designation; Constructed in 1972
