Retail Space at Signalized
For Sale
Contact for pricing
350 N Union Blvd, Colorado Springs, CO 80909
Established retail configuration with on-site parking and convenient ingress and egress.
Property Size15,518 SF
Price / SF$257.77
Days on Market52
Property Features for 350 N Union Blvd
General Information
Standard status
Active
Size
15,518 SF
Property subtype
Retail
Zoning
MX-M HR
Site & Location
Corner Location
Yes
Traffic Count
60,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
Cushman & Wakefield Colorado Springs Commercial
Listed By:
Patrick Kerscher · License #CO 4045627
(719) 418-4065
Source:
Crexi
Added: Aug 20
Changed: Sep 25
Last Checked: Oct 9 at 7:57PM
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 Cushman & Wakefield Colorado Springs Commercial
Investment Insights
Based on property information with market context.
This 15,518-square-foot retail space occupies the former Walgreens location at 350 N Union Boulevard in Colorado Springs. The property includes an established retail configuration, on-site parking, and access from a signalized intersection. Union Boulevard and East Platte Avenue provide direct connectivity between two major commercial arterials.
The surrounding infill trade area includes dense residential neighborhoods, major employers, medical facilities, retailers, restaurants, and everyday services. Traffic exposure is approximately 60,000 vehicles per day, while nearby connections to Platte Avenue/US 24 and the broader arterial network support movement throughout Colorado Springs. The site is suited to retail, medical, service, and other high-traffic commercial uses identified in the property information.
The surrounding infill trade area includes dense residential neighborhoods, major employers, medical facilities, retailers, restaurants, and everyday services. Traffic exposure is approximately 60,000 vehicles per day, while nearby connections to Platte Avenue/US 24 and the broader arterial network support movement throughout Colorado Springs. The site is suited to retail, medical, service, and other high-traffic commercial uses identified in the property information.
Key Highlights
- 15,518‑square‑foot retail space at 350 N Union Boulevard
- Former Walgreens location with an established retail configuration
- Signalized intersection of Union Boulevard and East Platte Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,728
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,734,560
$3.7M
Cap Rate 7%
$2,667,543
$2.7M
Cap Rate 9%
$2,074,756
$2.1M
Market Conditions
NOI Build-Up for 15,518 SF
Gross rent
$279.3K $18.00/SF
− Vacancy
−$12.6K −$0.81/SF
EGI
$266.8K $17.19/SF
− OpEx
−$80.0K −$5.16/SF
NOI
$186.7K $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 Rate 5%
$3,734,560
Cap Rate 7%
$2,667,543
Cap Rate 9%
$2,074,756
Alternative Uses
Best Use
Retail
$2.67M
$2.33M – $3.11M
NOI $186,728 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.06M
$2.68M – $3.58M
NOI $214,521 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
60,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,099
Businesses Nearby
97k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 33%
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
0.2 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
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Market
Vacancy Rate% for Retail in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Retail space - Established retail configuration with on-site parking and convenient ingress and egress.
Where is this retail space located?
The property is located at 350 N Union Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 15,518‑square‑foot retail space at 350 N Union Boulevard; Former Walgreens location with an established retail configuration; Signalized intersection of Union Boulevard and East Platte Avenue
