Multi-Building Mixed-Use
New
For Sale
$3,150,000
5215 Galley Road Colorado, Colorado Springs, CO 80915
Multi-tenant property combines street-facing retail and flex suites with rear small-bay warehouse space.
Property Size30,097 SF
Price / SF$104.66
Days on Market2
Property Features for 5215 Galley Road Colorado
General Information
Standard status
Active
Size
30,097 SF
Property subtype
Mixed Use
Building Details
Building Size
30,097 SF
Buildings
4
Tenancy
Multi
Listing Agency:
RE/MAX
Listed By:
Joe Villalva · License #ER100090809
(719) 664-9326
Source:
Remaxcommercial
Added: Sep 16
Last Checked: Sep 16 at 1:58PM
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 RE/MAX
Investment Insights
Based on property information with market context.
The Galley Road Commercial Portfolio comprises 30,097 SF across four parcels at 5215, 5235, 5255 and 5265 Galley Road. Two two-story street-side buildings contain 20 retail and flex suites, while two rear buildings add six warehouse units. Eight downstairs suites include rear overhead garage doors that open into large, two-story-height garage areas, supporting a range of retail, service, storage, showroom and light industrial configurations.
The property is approximately three blocks west of Powers Boulevard in east Colorado Springs, within a commercial corridor surrounded by residential neighborhoods, retail and service businesses, and light industrial users. It also offers access to E. Platte Avenue, Peterson Space Force Base and Colorado Springs Airport. Existing tenants occupy portions of the complex, with additional vacant space available for lease-up.
The property is approximately three blocks west of Powers Boulevard in east Colorado Springs, within a commercial corridor surrounded by residential neighborhoods, retail and service businesses, and light industrial users. It also offers access to E. Platte Avenue, Peterson Space Force Base and Colorado Springs Airport. Existing tenants occupy portions of the complex, with additional vacant space available for lease-up.
Key Highlights
- 30,097‑SF multi‑building commercial property across four parcels
- Two street‑side, two‑story buildings with 20 retail/flex suites
- Two rear warehouse buildings provide 6 additional units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$289,924
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,798,480
$5.8M
Cap Rate 7%
$4,141,771
$4.1M
Cap Rate 9%
$3,221,378
$3.2M
Market Conditions
NOI Build-Up for 30,097 SF
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.
Gross rent
$469.5K $15.60/SF
− Vacancy
−$23.5K −$0.78/SF
EGI
$446.0K $14.82/SF
− OpEx
−$156.1K −$5.19/SF
NOI
$289.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,798,480
Cap Rate 7%
$4,141,771
Cap Rate 9%
$3,221,378
Alternative Uses
Best Use
Retail
$5.17M
$4.53M – $6.04M
NOI $362,157 @ 7.0% cap · market cap 11.50%
Second Best
Mixed Use
$4.80M
$4.20M – $5.60M
NOI $335,883 @ 7.0% cap · market cap 10.66%
Theoretical Best
Specialty Retail
$5.94M
$5.20M – $6.93M
NOI $416,061 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 80915, CO
22,548
Population
9,434
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
94%
High-School Grad
7.9 sq mi
ZIP Area
2,854
Density / Sq Mi
$67,761
Median Household Income
$38,968
Median Earnings
$1,424
Median Rent
$328,200
Median Home Value
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant property combines street-facing retail and flex suites with rear small-bay warehouse space.
Where is this mixed-use property located?
The property is located at 5215 Galley Road Colorado Colorado Springs, CO.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 30,097‑SF multi‑building commercial property across four parcels; Two street‑side, two‑story buildings with 20 retail/flex suites; Two rear warehouse buildings provide 6 additional units
