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Colorado Springs Motel Investment Opportunity

3920 N Nevada Avenue, Colorado Springs, CO 80907

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For Sale

$2,880,000

32-unit motel near UCCS with redevelopment potential.

Property size:

13,000 SF

Price / SF:

$221/SF

HighLights

Prime location near UCCS, Downtown Colorado Springs, Garden of the Gods, and Air Force installations.
Significant value‑add opportunity through redevelopment or conversion.
High visibility and consistent demand due to proximity to retail and amenities (Costco, Lowe's, restaurants).
Large 32‑unit motel with over 13,000 square feet.
Potential for conversion into multi‑family units or extended stay housing.
Strong long‑term investment or repositioning potential.

We can help!

Listing Contact

KYONG CHU CMOE CNE GRI MCNE MRP

For Sale

$2,880,000

32-unit motel near UCCS with redevelopment potential.

Property size:

13,000 SF

Price / SF:

$221/SF

Added:: Mar 18, 2026
Days on Market:: 87
Last Refresh:: Mar 18 at 7:48 am

Property Features for 3920 N Nevada Avenue

General Information

Standard status: Active
Size: 13,000 SF

Building Details

Year Built: 1968

We can help!

Listing Contact

KYONG CHU CMOE CNE GRI MCNE MRP

Listing agent KYONG CHU CMOE CNE GRI MCNE MRP

Listing office KC REALTY

Listing date Mar 18, 2026

Source Corcoran

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 KC REALTY

HighLights

Prime location near UCCS, Downtown Colorado Springs, Garden of the Gods, and Air Force installations.
Significant value‑add opportunity through redevelopment or conversion.
High visibility and consistent demand due to proximity to retail and amenities (Costco, Lowe's, restaurants).
Large 32‑unit motel with over 13,000 square feet.
Potential for conversion into multi‑family units or extended stay housing.
Strong long‑term investment or repositioning potential.

Overview

This 32-unit motel, offering over 13,000 square feet, presents an investment opportunity in Colorado Springs. The property is located near the University of Colorado Colorado Springs (UCCS), Downtown Colorado Springs, Garden of the Gods, and nearby Air Force installations. The location benefits from high visibility and consistent demand, with surrounding retail and amenities such as Costco, Lowe's, and a variety of restaurants. The existing motel layout offers redevelopment or conversion potential into multi-family units, extended stay housing, or other income-producing uses. Buyers are advised to verify zoning and intended use.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$302.6k	$23.28
− Vacancy	−$15.7k	−$1.21
EGI	$286.9k	$22.07
− OpEx	−$129.1k	−$9.93
NOI	$157.8k	$12.14

13,000 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$2.25M

$1.97M – $2.63M (±1% cap)

NOI $157,796 @ 7.0% cap · market cap 5.48%

Second Best

Hotel Hospitality

$719.8K

$629.9K – $839.8K (±1% cap)

NOI $50,388 @ 7.0% cap · market cap 1.75%

Theoretical Best

Specialty Retail

$2.57M

$2.25M – $3.00M (±1% cap)

NOI $179,712 @ 7.0% cap · market cap 6.24%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Best Inn Motel Hotel & Motel

Suggested Use

Similar Places Nearby

Hoste Cottage #1 — 1021 n wahsatch ave #1/2, colorado springs, co 80903
Family Friendly Fright — 1424 N Wahsatch Ave, Colorado Springs, CO 80907
Greg’s class — Gill House, 1105 N Cascade Ave, Colorado Springs, CO 80903
The Carriage House Vacation Rental — 1519 N Tejon St, Colorado Springs, CO 80907
Casa Verde — 11 Columbia St, Colorado Springs, CO 80907

Location Insight

Map
Local Demand

City: Colorado Springs
County: El Paso
State: Colorado
Longitude: -104.8198427
Latitude: 38.8899781

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For sale
Motels
CO
Colorado Springs
80907
3920 N Nevada Avenue

What type of property is this?

Motel - 32-unit motel near UCCS with redevelopment potential.

Where is this motel located?

The property is located at 3920 N Nevada Avenue Colorado Springs, CO.

What is the asking price?

The asking price for this property is $2,880,000.

What are key features of this property?

This property features: Prime location near UCCS, Downtown Colorado Springs, Garden of the Gods, and Air Force installations.; Significant value‑add opportunity through redevelopment or conversion.; High visibility and consistent demand due to proximity to retail and amenities (Costco, Lowe's, restaurants).