Colorado Springs Retail Center For
5002-5044 North Academy Boulevard, Colorado Springs, CO 80918
Well-located retail center with value-add upside in Colorado Springs.
Type:Retail
Property size:
34,578 SFPrice / SF:
$231/SF- Added:
- May 14, 2026
- Days on Market:
- 19
- Last Refresh:
- May 16 at 8:47 pm
Property Features for 5002-5044 North Academy Boulevard
General Information
- Standard status
- Active
- Size
- 34,578 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1978
Listing agent Eric Diesch License #CO 10003594
Listing office Blue West Capital
Listing date May 14, 2026
Source Crexi
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 Blue West Capital
HighLights
- High‑traffic location at a signalized intersection (N Academy Blvd and N Union Blvd) with ±77,700 combined VPD.
- Located in a fast‑growing Colorado market with strong population and job growth.
- 84% leased to a diverse mix of tenants (medical, fitness, personal service, and retail).
- Value‑add opportunity through lease‑up of existing vacancy.
- NNN leases with annual rent increases support long‑term income growth.
- Recent parking lot and facade improvements minimize near‑term capital needs.
Overview
Park Place Plaza is a 34,578-square-foot neighborhood retail center located at the signalized intersection of N Academy Blvd and N Union Blvd in Colorado Springs, with a combined traffic volume of approximately 77,700 vehicles per day. The property is 84% leased to a diverse mix of tenants, including medical, fitness, personal service, and retail businesses. Existing vacancy provides value-add upside through lease-up, while NNN leases with annual rent increases support long-term income growth. Recent improvements to the parking lot and facade help minimize near-term capital needs. The property benefits from strong population and job growth, excellent visibility, and proximity to major employers including Fort Carson, Peterson Space Force Base, Schriever Space Force Base, and the U.S. Air Force Academy. The area’s strong demographics and regional growth continue to drive retail demand and investment activity.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $655.6k | $18.96 |
| − Vacancy | −$29.5k | −$0.85 |
| EGI | $626.1k | $18.11 |
| − OpEx | −$187.8k | −$5.43 |
| NOI | $438.3k | $12.67 |
34,578 SF · lease $18.96/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.26M
$5.48M – $7.30M
NOI $438,268 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.84M
$7.73M – $10.31M
NOI $618,646 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Park Place Shopping Center — 5030 n academy blvd, colorado springs, co 80918
- Academy Place Shopping Center — N Academy Blvd, Colorado Springs, CO 80918
- Coinstar Kiosk | Bitcoin ATM — Safeway, 5060 North Academy Boulevard, Colorado Springs, CO 80918
- Peak Lifedtylrs — Montebello Terrace, Colorado Springs, CO 80918
- Union Square — 5041 N Academy Blvd, Colorado Springs, CO 80918
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.7751982
- Latitude
- 38.9035847
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Well-located retail center with value-add upside in Colorado Springs.
Where is this shopping center located?
The property is located at 5002-5044 North Academy Boulevard Colorado Springs, CO.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: High‑traffic location at a signalized intersection (N Academy Blvd and N Union Blvd) with ±77,700 combined VPD.; Located in a fast‑growing Colorado market with strong population and job growth.; 84% leased to a diverse mix of tenants (medical, fitness, personal service, and retail).
