Warehouse with Fenced
For Sale
Contact for pricing
323 Iowa avenue colo, Colorado Springs, CO 80909
3,024 SF warehouse with fenced yard for sale.
Property Size3,024 SF
Lot Size0.18 Acres
Price / SF$211.64
Days on Market177
Property Features for 323 Iowa avenue colo
General Information
Standard status
Active
Size
3,024 SF
Lot size
0.18 Acres
Property subtype
Industrial, Retail
Zoning
MX-L
Investment Type
Owner/User
Listing Agency:
CBRE - Colorado Springs
Listed By:
Andrew Oyler · License #CO FA.040020773
Source:
Crexi
Added: Mar 9
Changed: Aug 31
Last Checked: Aug 31 at 6:16PM
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 CBRE - Colorado Springs
Investment Insights
Based on property information with market context.
This 3,024 square foot commercial property is located just north of Highway 24 and east of downtown. The property, situated on an 8,000 square foot lot, is zoned MX-L. The configuration includes a small office area and mostly warehouse space. It features two drive-in doors and a fenced yard. This property can be used as flex space, industrial property, warehouse, office unit, office property, retail space, or general commercial real estate.
Key Highlights
- Convenient location just north of Hwy 24 and east of downtown.
- Large 3,024 SF building suitable for various uses.
- 8,000 SF lot with a fenced yard, providing secure outdoor space.
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
$29,130
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
4.55%
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%
$582,600
$582.6K
Cap Rate 7%
$416,143
$416.1K
Cap Rate 9%
$323,667
$323.7K
Market Conditions
NOI Build-Up for 3,024 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
$47.2K $15.60/SF
− Vacancy
−$2.4K −$0.78/SF
EGI
$44.8K $14.82/SF
− OpEx
−$15.7K −$5.19/SF
NOI
$29.1K $9.63/SF
Area
Colorado Springs, CO
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$582,600
Cap Rate 7%
$416,143
Cap Rate 9%
$323,667
Alternative Uses
Best Use
Flex RnD
$416.1K
$364.1K – $485.5K
NOI $29,130 @ 7.0% cap · market cap 4.55%
Second Best
Industrial
$392.0K
$343.0K – $457.4K
NOI $27,441 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$597.2K
$522.6K – $696.7K
NOI $41,804 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,412
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Susanna's Comfort Cuisine Food Trailer — 1130 E Willamette Ave, Colorado Springs, CO 80903
Frequently Asked Questions
What type of property is this?
Flex space - 3,024 SF warehouse with fenced yard for sale.
Where is this flex space located?
The property is located at 323 Iowa avenue colo Colorado Springs, CO.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Convenient location just north of Hwy 24 and east of downtown.; Large 3,024 SF building suitable for various uses.; 8,000 SF lot with a fenced yard, providing secure outdoor space.
