Industrial Flex Building with Grade-Level
980 Elkton Drive Colorado Springs, CO 80907
980 Elkton Drive, Colorado Springs, CO, 80907
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For Sale
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Reinforced-concrete flex warehouse on 4.35 acres with clear heights to 18 feet and six grade-level loading doors.
Property Size53,797 SF
Lot Size4.35 Acres
Price / SF$186.81
Days on Market23
Property Features for 980 Elkton Drive
General Information
- Standard status
- Active
- Size
- 53,797 SF
- Lot size
- 4.35 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1994
Listing agency
Marcus & Millichap - Denver
(303) 328-2020
Listed by
Brandon Kramer · License #CO FA100045203
Source
Crexi
Added: Jun 30 Updated: Jul 20 at 10:32PM Checked: Jul 20 at 10:32PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
980 Elkton Drive is a well-maintained industrial flex asset built in 1994, offering reinforced concrete construction and clear heights up to 18 feet. The building includes six grade-level loading doors and wraparound parking designed to support efficient ingress and egress. The roof, HVAC, and parking lot are described as being in good condition.
The property is situated on 4.35 acres in Colorado Springs’ Garden of the Gods industrial corridor, with close proximity to I-25 and nearby amenities. In-place income includes American Medical Response leasing 28,281 SF through September 2035 and Dark Wolf leasing 6,928 SF through June 2029. The remaining 17,840 SF is vacant and described as clean-slate, warm shell condition, positioned for lease-up or owner-user occupancy without heavy improvements.
The property is situated on 4.35 acres in Colorado Springs’ Garden of the Gods industrial corridor, with close proximity to I-25 and nearby amenities. In-place income includes American Medical Response leasing 28,281 SF through September 2035 and Dark Wolf leasing 6,928 SF through June 2029. The remaining 17,840 SF is vacant and described as clean-slate, warm shell condition, positioned for lease-up or owner-user occupancy without heavy improvements.
Key Highlights
- Built in 1994: 53,797 SF industrial flex on 4.35 acres in Colorado Springs’ Garden of the Gods corridor
- Reinforced concrete construction with clear heights up to 18 feet
- Six grade‑level loading doors and wraparound parking for efficient ingress and egress
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $729.5k | $13.56 |
| − Vacancy | −$32.1k | −$0.60 |
| EGI | $697.4k | $12.96 |
| − OpEx | −$104.6k | −$1.94 |
| NOI | $592.8k | $11.02 |
53,797 SF · lease $13.56/SF/yr · vacancy 4.40% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$8.47M
$7.41M – $9.88M
NOI $592,781 @ 7.0% cap · market cap 5.90%
Second Best
Flex RnD
$7.40M
$6.48M – $8.64M
NOI $518,227 @ 7.0% cap · market cap 5.16%
Theoretical Best
Specialty Retail
$10.62M
$9.30M – $12.39M
NOI $743,690 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
American Medical Response
Ambulance Service
Similar For Sale Nearby
Similar Off Market Nearby
- Bird Dog BBQ — 4153 Centennial Blvd, Colorado Springs, CO 80907
FAQs
What type of property is this?
Flex space - Reinforced-concrete flex warehouse on 4.35 acres with clear heights to 18 feet and six grade-level loading doors.
Where is this flex space located?
The property is located at 980 Elkton Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $10,050,000.
What are key features of this property?
This property features: Built in 1994: 53,797 SF industrial flex on 4.35 acres in Colorado Springs’ Garden of the Gods corridor; Reinforced concrete construction with clear heights up to 18 feet; Six grade‑level loading doors and wraparound parking for efficient ingress and egress
