Auto Dealership Property with
For Sale
$460,000
928 & 938 S Tejon Street, Colorado Springs, CO 80903
For sale south downtown property with flexible FBZ zoning and 275 feet of street frontage, including multiple structures.
Property Size1,443 SF
Lot Size0.93 Acres
Price / SF$318.78
Days on Market31
Property Features for 928 & 938 S Tejon Street
General Information
Standard status
Active
Size
1,443 SF
Lot size
0.93 Acres
Property subtype
Commercial
Zoning
FBZ
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,485
Building Details
Year Built
1904
Listing Agency:
Trent Properties Group
(719) 338-1309
Listed By:
Jerry Trent · License #EA.1318522
(719) 338-1309
Source:
Pikespeakdreamhomesrealty
Added: Jul 25
Changed: Aug 23
Last Checked: Aug 23 at 9:32AM
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 Trent Properties Group
Investment Insights
Based on property information with market context.
This for-sale automotive and retail-oriented property features flexible FBZ zoning and includes a 1,443-square-foot commercial building, an 816-square-foot house, and a detached garage. The current tenant is a used car dealer, and the site sits on a 40,652-square-foot lot.
The property offers 275 feet of frontage on Tejon St, providing substantial street exposure for a range of commercial uses compatible with the flexible FBZ zoning.
With multiple existing structures on-site, the layout supports an operating car sales use while also allowing room for future reconfiguration subject to zoning and applicable requirements.
The property offers 275 feet of frontage on Tejon St, providing substantial street exposure for a range of commercial uses compatible with the flexible FBZ zoning.
With multiple existing structures on-site, the layout supports an operating car sales use while also allowing room for future reconfiguration subject to zoning and applicable requirements.
Key Highlights
- Flexible FBZ zoning in south downtown
- 275 ft of frontage on Tejon St
- 40,652 sq ft lot
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
$17,364
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
3.77%
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%
$347,280
$347.3K
Cap Rate 7%
$248,057
$248.1K
Cap Rate 9%
$192,933
$192.9K
Market Conditions
NOI Build-Up for 1,443 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
$26.0K $18.00/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$24.8K $17.19/SF
− OpEx
−$7.4K −$5.16/SF
NOI
$17.4K $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%
$347,280
Cap Rate 7%
$248,057
Cap Rate 9%
$192,933
Alternative Uses
Best Use
Retail
$248.1K
$217.1K – $289.4K
NOI $17,364 @ 7.0% cap · market cap 3.77%
Second Best
Industrial
$187.1K
$163.7K – $218.2K
NOI $13,094 @ 7.0% cap · market cap 2.85%
Theoretical Best
Specialty Retail
$285.0K
$249.4K – $332.5K
NOI $19,948 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,429
Businesses Nearby
50k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 99%
Hotels & Casinos 1%
Maverik Adventures First Stop
Shops & Services
15,133 visits/mo
0.5 miles
Maverik Adventures First Stop
Shops & Services
7,809 visits/mo
0.2 miles
Toyota Of Colorado Springs
Shops & Services
7,445 visits/mo
0.5 miles
7-Eleven
Shops & Services
6,746 visits/mo
0.5 miles
Cycle Gear
Shops & Services
4,759 visits/mo
0.4 miles
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 Retail in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fixed mobile auto repair inc. — 1601 S Wahsatch Ave, Colorado Springs, CO 80905
- Great Scotts Auto Shop — 534 asbury pl, colorado springs, co 80905
- Big O Tires — 1611 S Nevada Ave, Colorado Springs, CO 80905
- Drive-In Autosound & Window Tint — 165 W Motor Way, Colorado Springs, CO 80905
- Sweat Shop — 528 Asbury Pl, Colorado Springs, CO 80905
Frequently Asked Questions
What type of property is this?
Auto shop - For sale south downtown property with flexible FBZ zoning and 275 feet of street frontage, including multiple structures.
Where is this auto shop located?
The property is located at 928 & 938 S Tejon Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Flexible FBZ zoning in south downtown; 275 ft of frontage on Tejon St; 40,652 sq ft lot
