Former Restaurant Space For
For Sale
Contact for pricing
8115 Dorothy Ln, Colorado Springs, CO 80920
Former KFC restaurant space available near Chapel Hills Mall.
Property Size3,390 SF
Price / SF$383.48
Days on Market995
Property Features for 8115 Dorothy Ln
General Information
Standard status
Active
Size
3,390 SF
Property subtype
Retail
Zoning
MX-M (drive thru allowed)
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Crosbie Real Estate Group
(303) 398-2111
Listed By:
Isabella Busnardo · License #FA 100107026
Source:
Crexi
Added: Dec 11, 2023
Changed: Aug 16
Last Checked: Aug 30 at 11:22PM
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 Crosbie Real Estate Group
Investment Insights
Based on property information with market context.
This 3,390-square-foot commercial property, formerly a KFC restaurant, is available for purchase. The property is zoned MX-M, which permits drive-through operations. It is located with convenient access to I-25 and is in close proximity to Chapel Hills Mall. The property is suitable for drive-through restaurants, restaurants, retail space, and other commercial real estate ventures, making it ideal for an owner/user.
Key Highlights
- Former KFC Restaurant Space
- Zoning MX‑M allows Drive Thru
- Located Right Off I‑25
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
$54,186
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
4.17%
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%
$1,083,720
$1.1M
Cap Rate 7%
$774,086
$774.1K
Cap Rate 9%
$602,067
$602.1K
Market Conditions
NOI Build-Up for 3,390 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
$75.3K $22.20/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$72.2K $21.31/SF
− OpEx
−$18.1K −$5.33/SF
NOI
$54.2K $15.98/SF
Area
ZIP 80920
Vacancy
4.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,083,720
Cap Rate 7%
$774,086
Cap Rate 9%
$602,067
Alternative Uses
Best Use
Specialty Retail
$774.1K
$677.3K – $903.1K
NOI $54,186 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
447k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Superstores 34%
Shops & Services 16%
Apparel 5%
Walmart
Superstores
152,649 visits/mo
0.2 miles
Chick-fil-A
Dining
47,973 visits/mo
0.2 miles
McDonald's
Dining
31,568 visits/mo
0.1 miles
Dutch Bros. Coffee
Dining
29,430 visits/mo
0.2 miles
Cracker Barrel Old Country Store
Dining
26,299 visits/mo
0.1 miles
Demographics for 80920, CO
39,540
Population
14,631
Households
2.7
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
3,189
Density / Sq Mi
$111,233
Median Household Income
$50,927
Median Earnings
$1,955
Median Rent
$484,900
Median Home Value
Market
Vacancy Rate% for Retail in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Former KFC restaurant space available near Chapel Hills Mall.
Where is this drive through restaurant located?
The property is located at 8115 Dorothy Ln Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Former KFC Restaurant Space; Zoning MX‑M allows Drive Thru; Located Right Off I‑25
