Six-Tenant Retail
For Sale
$6,200,000
5490 & 5510 Powers Center Pt, Colorado Springs, CO 80920
Multi-tenant retail property with restaurants, instruction, insurance, and personal service uses.
Property Size16,000 SF
Days on Market21
Property Features for 5490 & 5510 Powers Center Pt
General Information
Standard status
Active
Size
16,000 SF
Property subtype
Retail
Building Details
Building Size
16,000 SF
Year Built
2006
Listing Agency:
SVN | Denver Commercial
Listed By:
Troy Meyer
(303) 217-7008
Source:
Svncolo
Added: Sep 16
Changed: Sep 24
Last Checked: Oct 5 at 5:10PM
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 SVN | Denver Commercial
Investment Insights
Based on property information with market context.
This 16,000 SF shopping center, completed in 2006, contains six tenant spaces serving a mix of restaurant, dance instruction, insurance, and personal service users. The property includes the Springs Dance expansion to 5,600 SF, along with a Pies & Grinders lease amendment. Projected occupancy is 100% based on the stated tenant commitments.
The center is positioned at Powers Boulevard and Research Parkway in northeast Colorado Springs, near Wolf Ranch. Average household income within one mile was $156,471 in the 2023 ACS. Contractual rent increases are scheduled during the projected Year One period, which runs from February 1, 2027, through January 31, 2028.
The center is positioned at Powers Boulevard and Research Parkway in northeast Colorado Springs, near Wolf Ranch. Average household income within one mile was $156,471 in the 2023 ACS. Contractual rent increases are scheduled during the projected Year One period, which runs from February 1, 2027, through January 31, 2028.
Key Highlights
- 16,000 SF retail center with six tenants
- Springs Dance expansion increases its space to 5,600 SF
- Projected 100% occupancy based on stated tenant commitments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$226,469
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,529,380
$4.5M
Cap Rate 7%
$3,235,271
$3.2M
Cap Rate 9%
$2,516,322
$2.5M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$339.8K $21.24/SF
− Vacancy
−$16.3K −$1.02/SF
EGI
$323.5K $20.22/SF
− OpEx
−$97.1K −$6.07/SF
NOI
$226.5K $14.15/SF
Area
ZIP 80920
Vacancy
4.80%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,529,380
Cap Rate 7%
$3,235,271
Cap Rate 9%
$2,516,322
Alternative Uses
Best Use
Retail
$3.24M
$2.83M – $3.77M
NOI $226,469 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.65M
$3.20M – $4.26M
NOI $255,744 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Groceries 4%
Conoco
Shops & Services
8,991 visits/mo
0.0 miles
7-Eleven
Shops & Services
5,195 visits/mo
0.0 miles
Dream Dinners
Groceries
602 visits/mo
0.0 miles
Demographics for 80920, CO
39,540
Population
14,631
Households
2.7
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
3,189
Density / Sq Mi
$111,233
Median Household Income
$50,927
Median Earnings
$1,955
Median Rent
$484,900
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?
Shopping center - Multi-tenant retail property with restaurants, instruction, insurance, and personal service uses.
Where is this shopping center located?
The property is located at 5490 & 5510 Powers Center Pt Colorado Springs, CO.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 16,000 SF retail center with six tenants; Springs Dance expansion increases its space to 5,600 SF; Projected 100% occupancy based on stated tenant commitments
