Neighborhood Retail
5002-5050 N Academy Blvd, Colorado Springs, CO 80918
For Sale
Contact for pricing
A service-oriented tenant mix includes medical, fitness, and personal-service businesses.
Property Size34,578 SF
Price / SF$224.85
Days on Market35
Property Features for 5002-5050 N Academy Blvd
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Corner Location
Traffic Count
Road Access
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
Blue West Capital
Listed By:
Eric Diesch · License CO #10003594
(720) 794-8034
Source:
Crexi
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 6:09PM
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
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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 34,578-square-foot retail center is 97.4% occupied, with tenants spanning medical, fitness, and personal services. Recent façade work and parking lot upgrades have been completed. The weighted average lease term is 3.9 years, and most leases are NNN with annual rent increases.
The property occupies the signalized southwest corner of North Academy Boulevard and North Union Boulevard in Colorado Springs. These corridors carry approximately 77,700 vehicles per day combined, and the surrounding trade area is supported by national retailers. Direct access serves the center from the intersection.
The property occupies the signalized southwest corner of North Academy Boulevard and North Union Boulevard in Colorado Springs. These corridors carry approximately 77,700 vehicles per day combined, and the surrounding trade area is supported by national retailers. Direct access serves the center from the intersection.
Key Highlights
- 34,578‑square‑foot retail center with 97.4% occupancy
- Service‑oriented tenants include medical, fitness, and personal services
- Weighted average lease term of 3.9 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$438,268
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,765,360
$8.8M
Cap Rate 7%
$6,260,971
$6.3M
Cap Rate 9%
$4,869,644
$4.9M
Market Conditions
NOI Build-Up for 34,578 SF
Gross rent
$655.6K $18.96/SF
− Vacancy
−$29.5K −$0.85/SF
EGI
$626.1K $18.11/SF
− OpEx
−$187.8K −$5.43/SF
NOI
$438.3K $12.67/SF
Area
ZIP 80918
Vacancy
4.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,765,360
Cap Rate 7%
$6,260,971
Cap Rate 9%
$4,869,644
Alternative Uses
Best Use
Retail
$6.26M
$5.48M – $7.30M
NOI $438,268 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.84M
$7.73M – $10.31M
NOI $618,646 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
77,700 VPD
Traffic count
97.4%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
229k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 42%
Dining 36%
Groceries 12%
Shops & Services 5%
Target
Superstores
95,088 visits/mo
0.4 miles
McDonald's
Dining
28,143 visits/mo
0.4 miles
Safeway
Groceries
27,075 visits/mo
0.2 miles
Panda Express
Dining
14,129 visits/mo
0.0 miles
Wendy's
Dining
13,053 visits/mo
0.4 miles
Demographics for 80918, CO
47,453
Population
20,447
Households
2.3
Avg Household Size
37
Median Age
38%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
3,954
Density / Sq Mi
$82,743
Median Household Income
$42,596
Median Earnings
$1,572
Median Rent
$414,400
Median Home Value
Market
Properties on Market for Shopping centers in Colorado Springs
Vacancy Rate% for Retail in Colorado Springs, CO
Similar Off Market Nearby
- Academy Place Shopping Center — N Academy Blvd, Colorado Springs, CO 80918
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Frequently Asked Questions
What type of property is this?
Shopping center - A service-oriented tenant mix includes medical, fitness, and personal-service businesses.
Where is this shopping center located?
The property is located at 5002-5050 N Academy Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $7,775,000.
What are key features of this property?
This property features: 34,578‑square‑foot retail center with 97.4% occupancy; Service‑oriented tenants include medical, fitness, and personal services; Weighted average lease term of 3.9 years
