424 Kiowa St Colorado Springs, CO 80905
- Commercial real estate
- 1,794 SF
Current Use by Public Records
- Ithaka Land Community Center / Non-Profit Organization
Property Details for 424 Kiowa St
- Property size
- 1,794 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fully renovated, 1,794 square foot adult day care facility in Colorado Springs, CO. Built in 1891 and extensively renovated in 2024, this freestanding building boasts a brand new 5-year NNN lease with a strong tenant possessing excellent financials and credit. The property features a 7.5% cap rate and a net operating income (NOI) of $56,400, resulting in an asking price of $752,900. Situated on a 3,034 square foot lot in the desirable Westside neighborhood, less than 3 miles from downtown, this property offers a unique blend of historical charm and modern functionality. The Westside is known for its outdoorsy community, mature homes, and diverse population, mirroring the walkability and vibe of Old Colorado City. While the property includes two buildings totaling 3,034 square feet, the main building used for the adult day care is 1,794 square feet. This turnkey investment provides a secure and profitable opportunity in a thriving Colorado Springs location. The property underwent a complete overhaul, including a change of use approved by the city. The price per square foot is $419.68. This is a rare opportunity to acquire a well-established, high-performing investment property with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.8337195
- Latitude
- 38.8358704
