Colorado Springs Flex/Industrial
For Sale
Contact for pricing
Pending
1420-1460 Aviation Way, Colorado Springs, CO 80916
Flex/Industrial property available for sale in Colorado Springs, CO.
Property Size20,922 SF
Days on Market1033
Property Features for 1420-1460 Aviation Way
General Information
Standard status
Pending
Size
20,922 SF
Property subtype
Office, Industrial
Zoning
BP | CR AO
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$254,947
Building Details
Year Built
1977
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
NAI Highland, LLC
Listed By:
John Benson · License #CO FA.100088508
(719) 577-0044
Source:
Crexi
Added: Nov 9, 2023
Changed: Aug 14
Last Checked: Sep 6 at 9:26AM
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 commercial real estate property, located in Colorado Springs, CO, offers a total size of 20922 square feet. The property is suitable for flex space, industrial, warehouse, and office use. It is currently listed for sale.
Key Highlights
- For sale
- Year Built: 1977
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
$190,648
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
5.29%
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%
$3,812,960
$3.8M
Cap Rate 7%
$2,723,543
$2.7M
Cap Rate 9%
$2,118,311
$2.1M
Market Conditions
NOI Build-Up for 20,922 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
$283.7K $13.56/SF
− Vacancy
−$11.3K −$0.54/SF
EGI
$272.4K $13.02/SF
− OpEx
−$81.7K −$3.91/SF
NOI
$190.6K $9.11/SF
Area
ZIP 80916
Vacancy
4.00%
Lease Rate
$13.56 /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%
$3,812,960
Cap Rate 7%
$2,723,543
Cap Rate 9%
$2,118,311
Alternative Uses
Best Use
Industrial
$2.72M
$2.38M – $3.18M
NOI $190,648 @ 7.0% cap · market cap 5.29%
Second Best
Flex RnD
$2.53M
$2.21M – $2.95M
NOI $177,030 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$4.86M
$4.25M – $5.67M
NOI $340,129 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80916, CO
39,990
Population
15,464
Households
2.6
Avg Household Size
30
Median Age
18%
College-Educated
88%
High-School Grad
18.4 sq mi
ZIP Area
2,173
Density / Sq Mi
$63,399
Median Household Income
$37,708
Median Earnings
$1,505
Median Rent
$289,500
Median Home Value
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/Industrial property available for sale in Colorado Springs, CO.
Where is this flex space located?
The property is located at 1420-1460 Aviation Way Colorado Springs, CO.
What is the asking price?
The asking price for this property is $3,603,228.
What are key features of this property?
This property features: For sale; Year Built: 1977
