Warehouse with Fenced
For Sale
$680,000
323 Iowa Avenue, Colorado Springs, CO 80909
3,024 SF warehouse with fenced yard for sale.
Property Size3,024 SF
Lot Size0.18 Acres
Price / SF$224.87
Days on Market219
Property Features for 323 Iowa Avenue
General Information
Standard status
Active
Size
3,024 SF
Lot size
0.18 Acres
Property subtype
Industrial
Site & Location
Neighborhood
Knob Hill
Listing Agency:
CBRE - Colorado Springs
Listed By:
Andy Oyler
(719) 321-7977
Source:
Cbre
Added: Mar 27
Changed: Oct 25
Last Checked: Oct 30 at 11:02AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$29,130
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
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
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 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 4.28%
Second Best
Industrial
$392.0K
$343.0K – $457.4K
NOI $27,441 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$597.2K
$522.6K – $696.7K
NOI $41,804 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Colorado Springs, CO
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 Colorado Springs, CO.
What is the asking price?
The asking price for this property is $680,000.
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.
