Freestanding Retail/Office
For Sale
Contact for pricing
747-795 E Citadel Dr, Colorado Springs, CO 80909
Freestanding building offers 26,478 SF of flexible interior space and 123 parking spaces on a 2.4-acre site.
Property Size26,478 SF
Lot Size2.40 Acres
Price / SF$149.18
Days on Market582
Property Features for 747-795 E Citadel Dr
General Information
Standard status
Active
Size
26,478 SF
Total Parking Spaces
123
Lot size
2.40 Acres
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Construction
metal framed
Listing Agency:
SRS Real Estate Partners | Denver
(303) 572-1800
Listed By:
Patrick McGlinchey · License #CO FA100069925
(210) 303-3149
Source:
Moodyscre
Added: Feb 10, 2025
Changed: Aug 15
Last Checked: Sep 14 at 8:29AM
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 SRS Real Estate Partners | Denver
Investment Insights
Based on property information with market context.
This freestanding commercial building features a metal frame and a flat roof with fully adhered TPO membrane roof covering. The property provides 26,478 SF of flexible interior space designed to accommodate a range of commercial uses.
Set on a 2.4-acre site, the building is described as having high visibility and offers excellent parking with 123 spaces, including five handicap stalls. Direct access is noted from Citadel Dr E and East Portal Dr, with the property surrounded by retail and major traffic corridors near Citadel Mall.
The offering presents an opportunity for retail, medical, office, or mixed-use redevelopment, subject to applicable approvals.
Set on a 2.4-acre site, the building is described as having high visibility and offers excellent parking with 123 spaces, including five handicap stalls. Direct access is noted from Citadel Dr E and East Portal Dr, with the property surrounded by retail and major traffic corridors near Citadel Mall.
The offering presents an opportunity for retail, medical, office, or mixed-use redevelopment, subject to applicable approvals.
Key Highlights
- Freestanding building on a 2.4‑acre site with 26,478 SF of flexible interior space
- 123 parking spaces, including five handicap stalls
- Metal‑framed structure with a flat roof fully adhered to TPO membrane roofing
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
$318,610
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
8.07%
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%
$6,372,200
$6.4M
Cap Rate 7%
$4,551,571
$4.6M
Cap Rate 9%
$3,540,111
$3.5M
Market Conditions
NOI Build-Up for 26,478 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
$476.6K $18.00/SF
− Vacancy
−$21.4K −$0.81/SF
EGI
$455.2K $17.19/SF
− OpEx
−$136.5K −$5.16/SF
NOI
$318.6K $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%
$6,372,200
Cap Rate 7%
$4,551,571
Cap Rate 9%
$3,540,111
Alternative Uses
Best Use
Retail
$4.55M
$3.98M – $5.31M
NOI $318,610 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.23M
$4.58M – $6.10M
NOI $366,032 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
547k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 28%
Apparel 19%
Home Improvements & Furnishings 5%
Raising Cane's Chicken Fingers
Dining
49,002 visits/mo
0.2 miles
Chick-fil-A
Dining
43,601 visits/mo
0.3 miles
Olive Garden
Dining
31,577 visits/mo
0.2 miles
Five Below
Shops & Services
31,051 visits/mo
0.1 miles
Burlington
Apparel
29,650 visits/mo
0.3 miles
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
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?
Retail space - Freestanding building offers 26,478 SF of flexible interior space and 123 parking spaces on a 2.4-acre site.
Where is this retail space located?
The property is located at 747-795 E Citadel Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Freestanding building on a 2.4‑acre site with 26,478 SF of flexible interior space; 123 parking spaces, including five handicap stalls; Metal‑framed structure with a flat roof fully adhered to TPO membrane roofing
