Restaurant Opportunity on Academy
For Sale
$950,000
310 South Academy Boulevard Colorado, Colorado Springs, CO 80910
Turn-key restaurant with fully equipped kitchen and enclosed patio.
Property Size5,855 SF
Price / SF$162.25
Days on Market323
Property Features for 310 South Academy Boulevard Colorado
General Information
Standard status
Active
Size
5,855 SF
Class
D
Total Parking Spaces
28
Property subtype
Shopping Center - Restaurant
Zoning
MX_M AO
Building Details
Building Size
5,855 SF
Year Built
1979
Listing Agency:
RE/MAX
(719) 570-9000
Listed By:
Rob Rolley · License #FA40047227
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:34AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This establishment, previously operated as Pueblo Viejo for approximately 10 years, presents a turn-key restaurant opportunity. The building encompasses approximately 5,855 square feet and is situated on a 1.15-acre lot. The dining area accommodates seating for 180 patrons and includes an oversized enclosed patio. The kitchen is fully equipped, featuring two oversized walk-in coolers. The property is located on South Academy Boulevard in Colorado Springs, Colorado.
Key Highlights
- Turnkey restaurant opportunity.
- Large dining area with seating for 180.**
- Oversized enclosed patio.
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
$80,940
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
8.52%
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%
$1,618,800
$1.6M
Cap Rate 7%
$1,156,286
$1.2M
Cap Rate 9%
$899,333
$899.3K
Market Conditions
NOI Build-Up for 5,855 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
$112.4K $19.20/SF
− Vacancy
−$4.5K −$0.77/SF
EGI
$107.9K $18.43/SF
− OpEx
−$27.0K −$4.61/SF
NOI
$80.9K $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 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%
$1,618,800
Cap Rate 7%
$1,156,286
Cap Rate 9%
$899,333
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,940 @ 7.0% cap · market cap 8.52%
Second Best
Retail
$1.01M
$880.7K – $1.17M
NOI $70,453 @ 7.0% cap · market cap 7.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 43%
Electronics 9%
Home Improvements & Furnishings 3%
Conoco
Shops & Services
8,848 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
8,387 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,795 visits/mo
0.5 miles
Baskin-Robbins
Dining
6,693 visits/mo
0.5 miles
Burger King
Dining
5,609 visits/mo
0.1 miles
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Turn key restaurant - Turn-key restaurant with fully equipped kitchen and enclosed patio.
Where is this turn key restaurant located?
The property is located at 310 South Academy Boulevard Colorado Colorado Springs, CO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity.; Large dining area with seating for 180.**; Oversized enclosed patio.
