1785 N Academy Blvd Colorado Springs, CO 80909

This exceptional 24,173 square foot mixed-use property, located at 1785 N Academy Blvd in Colorado Springs, CO 80909, presents a compelling investment opportunity. Boasting a 9.65% cap rate and a pro-forma cap rate of 11.99%, this property is priced at $1,795,000 ($74.26/SF), significantly below replacement costs. Built in 1973 and extensively renovated in 2019 (over $600,000 in improvements), the building features a 55% new roof, updated LED lighting, upgraded power supply, ADA-compliant entries and restrooms, and updated paint and flooring. The 1.89-acre lot provides ample parking (66 paved spaces, a 2.75/1,000 SF ratio). Its prime location at the intersection of North Academy Boulevard (50,000 vehicles per day) and Constitution Avenue (15,000 vehicles per day) offers exceptional visibility and accessibility. The property's zoning (MX-M) allows for diverse uses, including light warehouse, indoor agriculture, creative loft space, office, psychotherapy, healthcare, and photography studios. Currently, the building enjoys 77.76% occupancy. Its strategic placement adjacent to the Rustic Hills North Industrial Commerce Redevelopment and near Sand Creek and the Homestead Trail (over 100 miles of trails) adds further value. This is a rare opportunity to acquire a well-maintained, high-performing asset in a thriving Colorado Springs location.