Building Details

Year Built 1986

Buildings 1

Stories 1

Tenancy Single

Listing Agency: NAI Highland, LLC

Listed By: John Benson · License #CO FA.100088508 Show Phone

Source: Crexi

Added: Apr 22, 2024 Changed: Oct 17 Last Checked: Oct 19 at 6:40AM

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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

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Investment Insights

Based on property information with market context.

This unique industrial building is strategically located just east of Downtown Colorado Springs, providing convenient access to I-25. The property offers 13,250 square feet of space suitable for warehousing, manufacturing, or assembly purposes. The layout includes a combination of private offices and an open office landscape.

Key Highlights

• Unique industrial building ideal for warehousing, manufacturing, or assembly.
• Strategic location just east of Downtown Colorado Springs.
• Minutes from I‑25.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$127,637

Cap Rate

6.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,552,740 $2.6M

Cap Rate 7%

$1,823,386 $1.8M

Cap Rate 9%

$1,418,189 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,250 SF

Gross rent

$206.7K $15.60/SF

− Vacancy

−$10.3K −$0.78/SF

EGI

$196.4K $14.82/SF

− OpEx

−$68.7K −$5.19/SF

NOI

$127.6K $9.63/SF

Area

Colorado Springs, CO

Vacancy

5.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,552,740

Cap Rate 7%

$1,823,386

Cap Rate 9%

$1,418,189

Alternative Uses

Best Use

Flex RnD

$1.82M

$1.60M – $2.13M (±1% cap)

NOI $127,637 @ 7.0% cap · market cap 6.72%

Second Best

Industrial

$1.72M

$1.50M – $2.00M (±1% cap)

NOI $120,235 @ 7.0% cap · market cap 6.33%

Theoretical Best

Specialty Retail

$2.62M

$2.29M – $3.05M (±1% cap)

NOI $183,168 @ 7.0% cap · market cap 9.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Peak Refreshments Big Box & Wholesale Store Southco Tire (Bike/Boat/Book/etc) Store CITC Group Inc Service Establishment

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Pet Grooming Service Pet Store & Service Pharmacy Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,622

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 80903, CO

15,944

Population

8,340

Households

1.9

Avg Household Size

34

Median Age

39%

College-Educated

95%

High-School Grad

5.4 sq mi

ZIP Area

2,953

Density / Sq Mi

$59,292

Median Household Income

$35,251

Median Earnings

$1,221

Median Rent

$420,000

Median Home Value

Market

Vacancy Rate% for Industrial in Colorado Springs, CO

4.9% 2019

5.5% 2020

4.7% 2021

4.9% 2022

3.5% 2023

3.8% 2024

5.9% 2025

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Similar Off Market Nearby

• High Grade Foods Jamaican Restaurant and Bar — 1020 S Tejon St, Colorado Springs, CO 80903
• LiL' Howard's BBQ and Catering — 506 e moreno ave, colorado springs, co 80903
• LUSH F2F — 401 S Nevada Ave, Colorado Springs, CO 80903
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Frequently Asked Questions

What type of property is this?

Flex space - Industrial building for sale near downtown Colorado Springs.

Where is this flex space located?

The property is located at 535 E Cimarron St Colorado Springs, CO.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: Unique industrial building ideal for warehousing, manufacturing, or assembly.; Strategic location just east of Downtown Colorado Springs.; Minutes from I‑25.