Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    3352 Union Blvd Colorado Springs, CO 80907

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3352 Union Blvd Colorado Springs, CO 80907

    View on Map
    • Neighborhood centers
    • 14,360 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 3352 Union Blvd

    Year built
    1984
    Property size
    14,360 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 14,360 square foot retail strip center, known as the Union Gap Shoppette, presents a prime leasing opportunity. Located in the Colorado Springs Central submarket of El Paso County, this single-story, Class B building boasts high visibility from North Union Boulevard and easy access to Fillmore Avenue and I-25. Built in 1984, the property sits on a 1.47-acre lot and is zoned MX-M. Currently, there is 2,440 square feet of vacant space available, ideal for a variety of retail uses. The existing tenant mix provides a strong synergy for potential new occupants. The property features ample on-site parking, ensuring convenient access for customers and employees. This is an excellent opportunity to establish a business in a high-traffic area with strong visibility and convenient access to major transportation arteries. The property offers a unique chance to capitalize on the established presence of the Union Gap Shoppette within a thriving Colorado Springs community. The available space is particularly well-suited for businesses requiring high visibility and convenient access for customers. The property's location and ample parking make it an attractive option for a wide range of retail tenants. The MX-M zoning provides flexibility for various commercial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.795
    Latitude
    38.8785

    Comparable in this City

    • Value Estimation by Request
      2,284 SF

      315 Mt Vw Ln

      SHOPPING CENTER, STRIP CENTER • 2,284 SF
      315 Mt Vw Ln, Colorado Springs, CO 80907-4426
      View Details
    • Value Estimation
      $2,580,000
      15,200 SF

      3260 Centennial Blvd

      SHOPPING CENTER, STRIP CENTER • 15,200 SF
      3260 Centennial Blvd, Colorado Springs, CO 80907-4077
      View Details
    • Value Estimation
      $1,295,000
      5,512 SF

      725 Fillmore St

      SHOPPING CENTER, STRIP CENTER • 5,512 SF
      725 Fillmore St, Colorado Springs, CO 80907-6311
      View Details
    • Value Estimation
      $985,000
      7,127 SF

      505 Columbia St

      SHOPPING CENTER, STRIP CENTER • 7,127 SF
      505 Columbia St, Colorado Springs, CO 80907-7674
      View Details
    • Value Estimation
      $1,040,000
      6,000 SF

      3240 Centennial Blvd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      3240 Centennial Blvd, Colorado Springs, CO 80907-4077
      View Details
    • Value Estimation
      $1,900,000
      18,707 SF

      816 Fillmore St

      SHOPPING CENTER, STRIP CENTER • 18,707 SF
      816 Fillmore St, Colorado Springs, CO 80907-6375
      View Details

    Similar Nearby for Sale

    • $1,200,000
      1,595 SF

      Retail Property with Excellent Visibility

      Retail property for sale with excellent visibility and easy access.
      712 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • $3,950,000
      892 SF

      Fully Leased T-Gap Marketplace

      Stabilized retail center in desirable Patty Jewett area.
      2107 Templeton Gap Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      2,967 SF

      Freestanding QSR with Drive-Thru

      Second-generation restaurant space in high-demand Garden of the Gods area.
      511 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    • $445,000

      Remodeled Commercial Space For Sale

      Versatile 5,751 sq ft commercial property in prime Colorado Springs location.
      3132 N Hancock Ave, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      2,196 SF

      Corner Lot Car Wash Opportunity

      High-traffic corner lot with existing car wash and development potential.
      2933 Sage St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,595 SF

      Retail Space on Fillmore Street

      Prime retail space in a high-traffic Colorado Springs location.
      712 E Fillmore St, Colorado Springs, CO 80907
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Centennial Blvd Retail Space

      Retail spaces available for lease on Centennial Boulevard.
      4135-4159 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      4540 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,200 SF

      Former Drive-In Restaurant For Lease

      1,200 SF former Sonic Drive-In on 0.912 acre pad.
      317 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,511 SF

      Retail Space in Westwind Marketplace

      Retail space available in established Colorado Springs shopping center.
      4425 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      5,558 SF

      Retail Space in Venetian Village

      Retail property for lease in Colorado Springs.
      3029-3123 N Hancock Ave, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Grandview Marketplace

      Retail space available in established shopping center anchored by King Soopers.
      3230 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3352 Union Blvd
    Colorado Springs, CO 80907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!