Fully Leased Retail
For Sale
Contact for pricing
6910 Palmer Park Blvd, Colorado Springs, CO 80915
Retail center offering eight leased units ranging from 900 to 2,400 square feet.
Property Size13,200 SF
Price / SF$196.97
Days on Market145
Property Features for 6910 Palmer Park Blvd
General Information
Standard status
Active
Size
13,200 SF
Property subtype
Retail
Zoning
CC (Community Commercial)
Net Operating Income
$160,694
Building Details
Year Built
1974
Units
8
Listing Agency:
NAI Highland, LLC
Listed By:
John Onstott · License #CO FA1175465
(719) 577-0044
Source:
Crexi
Added: Apr 16
Changed: Aug 21
Last Checked: Sep 7 at 9:04AM
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 NAI Highland, LLC
Investment Insights
Based on property information with market context.
This fully leased retail center is configured with eight individual units, with listed unit sizes ranging from 900 to 2,400 square feet. The offering is presented as a retail center investment with 100% occupancy and low turnover.
The property is located in East Central Colorado Springs at the intersection of Peterson Rd and Palmer Park Blvd.
For investors or owner-users seeking a multi-tenant retail asset, this package provides a diversified unit mix within a single retail center structure.
The property is located in East Central Colorado Springs at the intersection of Peterson Rd and Palmer Park Blvd.
For investors or owner-users seeking a multi-tenant retail asset, this package provides a diversified unit mix within a single retail center structure.
Key Highlights
- Eight‑unit retail center built in 1974
- 100% leased with low turnover, with current leases across all eight units
- Unit sizes range from 900 to 2,400 sq ft
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
$158,836
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
6.11%
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%
$3,176,720
$3.2M
Cap Rate 7%
$2,269,086
$2.3M
Cap Rate 9%
$1,764,844
$1.8M
Market Conditions
NOI Build-Up for 13,200 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
$237.6K $18.00/SF
− Vacancy
−$10.7K −$0.81/SF
EGI
$226.9K $17.19/SF
− OpEx
−$68.1K −$5.16/SF
NOI
$158.8K $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%
$3,176,720
Cap Rate 7%
$2,269,086
Cap Rate 9%
$1,764,844
Alternative Uses
Best Use
Retail
$2.27M
$1.99M – $2.65M
NOI $158,836 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,477 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center offering eight leased units ranging from 900 to 2,400 square feet.
Where is this shopping center located?
The property is located at 6910 Palmer Park Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Eight‑unit retail center built in 1974; 100% leased with low turnover, with current leases across all eight units; Unit sizes range from 900 to 2,400 sq ft
