Retail Condos Investment
For Sale
$2,252,000
3729 Austin Bluffs Parkway, Colorado Springs, CO 80918
NNN investment property with steady cash-flow and low maintenance.
Property Size5,998 SF
Price / SF$375.46
Days on Market1552
Property Features for 3729 Austin Bluffs Parkway
General Information
Standard status
Active
Size
5,998 SF
Property subtype
Investment, Retail
Zoning
PBC
Net Operating Income
$163,812
Building Details
Building Size
5,998 SF
Year Built
2008
Listing Agency:
Hoff & Leigh Colorado Springs
(715) 512-0265
Listed By:
Brandon Langiewicz, SIOR · License #ER.100022369
(715) 512-0265
Source:
Hoffleigh
Added: Jun 3, 2022
Changed: Aug 26
Last Checked: Aug 31 at 12:35PM
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 Hoff & Leigh Colorado Springs
Investment Insights
Based on property information with market context.
Located at 3729 and 3737 Austin Bluffs Pkwy, Colorado Springs, this property presents a unique NNN investment opportunity. The site includes three retail condos, with two currently available for sale. The building is well-maintained and clean. Benefiting from high visibility, the property is situated near the intersection of Austin Bluffs and Academy, a busy lighted intersection in Colorado Springs. The tenants have been in place for over 5 years and demonstrate strong financials, offering steady cash-flow and low maintenance.
Key Highlights
- High visibility location at a busy, lighted intersection (Austin Bluffs and Academy).
- NNN investment property offering low maintenance.
- Steady cash‑flow investment opportunity.
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
$76,023
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
3.38%
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%
$1,520,460
$1.5M
Cap Rate 7%
$1,086,043
$1.1M
Cap Rate 9%
$844,700
$844.7K
Market Conditions
NOI Build-Up for 5,998 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
$113.7K $18.96/SF
− Vacancy
−$5.1K −$0.85/SF
EGI
$108.6K $18.11/SF
− OpEx
−$32.6K −$5.43/SF
NOI
$76.0K $12.67/SF
Area
ZIP 80918
Vacancy
4.50%
Lease Rate
$18.96 /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%
$1,520,460
Cap Rate 7%
$1,086,043
Cap Rate 9%
$844,700
Alternative Uses
Best Use
Retail
$1.09M
$950.3K – $1.27M
NOI $76,023 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,312 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
363k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 28%
Groceries 17%
Apparel 10%
King Soopers
Groceries
60,695 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
30,186 visits/mo
0.4 miles
Murphy USA
Shops & Services
20,325 visits/mo
0.3 miles
Ross Dress for Less
Apparel
17,676 visits/mo
0.2 miles
Goodwill
Apparel
17,160 visits/mo
0.3 miles
Demographics for 80918, CO
47,453
Population
20,447
Households
2.3
Avg Household Size
37
Median Age
38%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
3,954
Density / Sq Mi
$82,743
Median Household Income
$42,596
Median Earnings
$1,572
Median Rent
$414,400
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?
NNN property - NNN investment property with steady cash-flow and low maintenance.
Where is this nnn property located?
The property is located at 3729 Austin Bluffs Parkway Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,252,000.
What are key features of this property?
This property features: High visibility location at a busy, lighted intersection (Austin Bluffs and Academy).; NNN investment property offering low maintenance.; Steady cash‑flow investment opportunity.
