Auto Shop with Drive-Through
New
For Sale
$565,000
313 Bonfoy Avenue, Colorado Springs, CO 80909
A remodeled customer area and fenced yard with two gated entrances complement the service layout.
Property Size1,500 SF
Lot Size0.34 Acres
Price / SF$376.67
Days on Market4
Property Features for 313 Bonfoy Avenue
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.34 Acres
Property subtype
Auto Repair
Zoning
MX-L
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Service Bays
2
Amenities
Remodeled Office & Customer Area
Building Details
Building Size
1,500 SF
Buildings
1
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Holly Trinidad · License #ER.100022369
(719) 337-0999
Source:
Hoffleigh
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:18PM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
This freestanding auto shop contains approximately 1,500 SF on a roughly 0.34-acre site. The service area has two drive-through bays and eight grade-level doors measuring 10’ × 8’. A remodeled office and customer area round out the building, while the fenced yard has dual gated access.
The property is at 313 Bonfoy Avenue in Colorado Springs and is zoned MX-L.
The property is at 313 Bonfoy Avenue in Colorado Springs and is zoned MX-L.
Key Highlights
- Approximately 1,500 SF freestanding auto shop on a 0.34‑acre site
- Two drive‑through service bays
- Eight grade‑level doors, each 10’ × 8’
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
$18,050
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
3.19%
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%
$361,000
$361.0K
Cap Rate 7%
$257,857
$257.9K
Cap Rate 9%
$200,556
$200.6K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$25.8K $17.19/SF
− OpEx
−$7.7K −$5.16/SF
NOI
$18.0K $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%
$361,000
Cap Rate 7%
$257,857
Cap Rate 9%
$200,556
Alternative Uses
Best Use
Retail
$257.9K
$225.6K – $300.8K
NOI $18,050 @ 7.0% cap · market cap 3.19%
Second Best
Industrial
$194.5K
$170.2K – $226.9K
NOI $13,612 @ 7.0% cap · market cap 2.41%
Theoretical Best
Specialty Retail
$296.2K
$259.2K – $345.6K
NOI $20,736 @ 7.0% cap · market cap 3.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,303
Businesses Nearby
96k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
Dutch Bros. Coffee
Dining
16,897 visits/mo
0.1 miles
Burger King
Dining
15,207 visits/mo
0.1 miles
Starbucks
Dining
15,191 visits/mo
0.1 miles
Maverik Adventures First Stop
Shops & Services
13,282 visits/mo
0.1 miles
Taco Bell
Dining
12,355 visits/mo
0.1 miles
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - A remodeled customer area and fenced yard with two gated entrances complement the service layout.
Where is this auto shop located?
The property is located at 313 Bonfoy Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Approximately 1,500 SF freestanding auto shop on a 0.34‑acre site; Two drive‑through service bays; Eight grade‑level doors, each 10’ × 8’
