Religious Campus with On-Site
622 & 626 Aspen Drive, Colorado Springs, CO 80911
For Sale
Contact for pricing
Two buildings combine a dedicated worship facility with a four-bedroom residence and on-site parking.
Property Size11,678 SF
Lot Size0.99 Acres
Price / SF$136.58
Days on Market27
Property Features for 622 & 626 Aspen Drive
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Buildings
Listing Agency:
Colorado - OLIVE REAL ESTATE GROUP, INC
Listed By:
Jeremy Shirley · License CO FA.100067771
(719) 244-5182
Source:
Crexi
Added: Oct 19
Changed: Nov 10
Last Checked: Nov 12 at 8:13AM
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 Colorado - OLIVE REAL ESTATE GROUP, INC
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Investment Insights
Based on property information with market context.
This 0.99-acre religious property in the Security-Widefield area of southeast Colorado Springs comprises two buildings totaling approximately 11,678 square feet. One building serves as a religious facility; the other is a residence with four bedrooms and two bathrooms. On-site parking is included, and the existing campus configuration supports assembly and community-oriented functions.
Key Highlights
- Two buildings totaling approximately 11,678 SF
- Four‑bedroom, two‑bath residence on the property
- Dedicated religious facility with on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,731
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,594,620
$2.6M
Cap Rate 7%
$1,853,300
$1.9M
Cap Rate 9%
$1,441,456
$1.4M
Market Conditions
NOI Build-Up for 11,678 SF
Gross rent
$225.6K $19.32/SF
− Vacancy
−$18.0K −$1.55/SF
EGI
$207.6K $17.77/SF
− OpEx
−$77.8K −$6.67/SF
NOI
$129.7K $11.11/SF
Area
ZIP 80911
Vacancy
8.00%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,594,620
Cap Rate 7%
$1,853,300
Cap Rate 9%
$1,441,456
Alternative Uses
Best Use
Mixed Use
$1.85M
$1.62M – $2.16M
NOI $129,731 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,850 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
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Business Placement
Demographics for 80911, CO
34,577
Population
12,516
Households
2.8
Avg Household Size
35
Median Age
24%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
3,115
Density / Sq Mi
$78,105
Median Household Income
$42,558
Median Earnings
$1,643
Median Rent
$348,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Two buildings combine a dedicated worship facility with a four-bedroom residence and on-site parking.
Where is this church & religious facility located?
The property is located at 622 & 626 Aspen Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Two buildings totaling approximately 11,678 SF; Four‑bedroom, two‑bath residence on the property; Dedicated religious facility with on‑site parking
