Retail Center in Colorado
For Sale
$7,126,485
6660-6660 Delmonico Dr., Colorado Springs, CO 80919
Multi-tenant retail center with stable income and upside potential.
Property Size23,662 SF
Days on Market293
Property Features for 6660-6660 Delmonico Dr.
General Information
Standard status
Active
Size
23,662 SF
Property subtype
Retail
Building Details
Building Size
23,662 SF
Listing Agency:
Olive Real Estate Group
Listed By:
Alex Dumas · License #FA.040034163
(719) 598-3000
Source:
Commercialcafe
Added: Nov 24, 2025
Changed: Sep 9
Last Checked: Sep 13 at 5:17AM
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 Olive Real Estate Group
Investment Insights
Based on property information with market context.
Delmonico Square is a multi-tenant retail center encompassing 23,662 square feet, situated on 2.13 acres across three lots. The property is located at the signalized intersection of Delmonico Drive and Rockrimmon Boulevard, in a neighborhood surrounded by established, high-income residential communities. The location benefits from consistent daily traffic, convenient access to I-25, and good visibility. The center is anchored by a mix of service-based and retail tenants catering to the daily needs of the surrounding population, contributing to low vacancy and consistent cash flow. As of November 1, 2025, the total net rents are $498,853. The property is well-maintained and features a stable, long-term tenant base with market upside. The exterior facade was remodeled in 2018. Annual rent escalations are in place, driving NOI growth. With limited new retail development in the area and rising barriers to entry, this property presents an opportunity to acquire a stable, income-producing asset in a supply-constrained submarket.
Key Highlights
- Fully leased asset generating $498,853 in net rents annually (as of November 1, 2025).
- Located at a signalized intersection with high visibility and easy access to I‑25.
- Stable, long‑term tenant base with potential for market upside.
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
$284,725
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
4.00%
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%
$5,694,500
$5.7M
Cap Rate 7%
$4,067,500
$4.1M
Cap Rate 9%
$3,163,611
$3.2M
Market Conditions
NOI Build-Up for 23,662 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
$425.9K $18.00/SF
− Vacancy
−$19.2K −$0.81/SF
EGI
$406.7K $17.19/SF
− OpEx
−$122.0K −$5.16/SF
NOI
$284.7K $12.03/SF
Area
Colorado Springs, CO
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,694,500
Cap Rate 7%
$4,067,500
Cap Rate 9%
$3,163,611
Alternative Uses
Best Use
Retail
$4.07M
$3.56M – $4.75M
NOI $284,725 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.67M
$4.09M – $5.45M
NOI $327,103 @ 7.0% cap · market cap 4.59%
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
433
Businesses Nearby
5k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 41%
SUBWAY
Dining
2,139 visits/mo
0.1 miles
The UPS Store
Shops & Services
1,920 visits/mo
0.1 miles
Domino's Pizza
Dining
609 visits/mo
0.1 miles
Demographics for 80919, CO
28,909
Population
12,033
Households
2.4
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
27.4 sq mi
ZIP Area
1,055
Density / Sq Mi
$116,316
Median Household Income
$60,084
Median Earnings
$1,800
Median Rent
$570,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 center with stable income and upside potential.
Where is this shopping center located?
The property is located at 6660-6660 Delmonico Dr. Colorado Springs, CO.
What is the asking price?
The asking price for this property is $7,126,485.
What are key features of this property?
This property features: Fully leased asset generating $498,853 in net rents annually (as of November 1, 2025).; Located at a **signalized intersection with high visibility and easy access to I‑25.**; Stable, long‑term tenant base with potential for market upside.
