Corner Retail NNN Pharmacy
311 S Nevada Ave Colorado Springs, CO 80903
For Sale
Contact for pricing
Recently remodeled corner building in Downtown Colorado Springs, operating under a short-term NNN lease with Ivywild Pharmacy.
Property Size2,081 SF
Price / SF$281.11
Days on Market239
Property Features for 311 S Nevada Ave
General Information
Standard status
Active
Size
2,081 SF
Property subtype
RETAIL
Listing Agency:
Thrive Commercial Partners
(719) 535-0500
Listed By:
Sam Cameron · License #CO-040041260
(719) 535-0500
Source:
Moodyscre
Added: Dec 2, 2025
Changed: Jul 25
Last Checked: Jul 28 at 1:44PM
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 Thrive Commercial Partners
Investment Insights
Based on property information with market context.
This recently remodeled corner retail building is offered for sale as an NNN property. The property is currently leased on a short-term NNN basis to Ivywild Pharmacy.
Located at the corner of Nevada Ave. and Vermijo Ave. in Downtown Colorado Springs, the building sits between the well-trafficked downtown strip and the S. Nevada shopping and dining corridor. It is also within walking distance of multiple new apartment buildings, supporting consistent local demand.
The building totals 2,081 square feet and is configured for retail pharmacy use under the existing lease.
Located at the corner of Nevada Ave. and Vermijo Ave. in Downtown Colorado Springs, the building sits between the well-trafficked downtown strip and the S. Nevada shopping and dining corridor. It is also within walking distance of multiple new apartment buildings, supporting consistent local demand.
The building totals 2,081 square feet and is configured for retail pharmacy use under the existing lease.
Key Highlights
- Recently remodeled corner building for sale at the intersection of Nevada Ave. and Vermijo Ave. in Downtown Colorado Springs
- Located between the downtown strip and the S. Nevada shopping and dining corridor
- Walking distance to multiple new apartment buildings
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 | $40.0k | $19.20 |
| − Vacancy | −$1.6k | −$0.77 |
| EGI | $38.4k | $18.43 |
| − OpEx | −$9.6k | −$4.61 |
| NOI | $28.8k | $13.82 |
2,081 SF · lease $19.20/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$411.0K
$359.6K – $479.5K
NOI $28,768 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$357.7K
$313.0K – $417.4K
NOI $25,041 @ 7.0% cap · market cap 4.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Ivywild Pharmacy — 311 S Nevada Ave, Colorado Springs, CO 80903
- TLC Pharmacy — 555 E Costilla St, Colorado Springs, CO 80903
- Tammy J. Lopez, PharmD — 27 E Vermijo Ave, Colorado Springs, CO 80903, United States
- Misty R. Meister, PharmD — 27 E Vermijo Ave, Colorado Springs, CO 80903, United States
- Life Boostr — 329 e cimarron st, colorado springs, co 80903
Frequently Asked Questions
What type of property is this?
Drug store - Recently remodeled corner building in Downtown Colorado Springs, operating under a short-term NNN lease with Ivywild Pharmacy.
Where is this drug store located?
The property is located at 311 S Nevada Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Recently remodeled corner building for sale at the intersection of Nevada Ave. and Vermijo Ave. in Downtown Colorado Springs; Located between the downtown strip and the S. Nevada shopping and dining corridor; Walking distance to multiple new apartment buildings
