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Property profile & analytics
OFF-MARKET Estimated value $7,050,000
Outlet malls

4305 Platte Ave Colorado Springs, CO 80915-4104

14,356 SF 1.69 ac lot Built 2002
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US13-2748454
Property summary
AI-generated overview

This ±14,490 square foot former Walgreens offers a unique sublease opportunity in a prime East Colorado Springs location. Situated at a prominent retail intersection boasting approximately 60,000 vehicles per day, the property benefits from high visibility and convenient access via front and rear entrances. The building, constructed in 2002, includes a drive-thru, monument signage with a reader board, and building signage, along with approximately 70 parking spaces. The suggested annual rent is $145,000, modified gross (taxes, repairs, and maintenance included; utilities are separate). The sublease term is co-terminus with the master lease, expiring July 31, 2027. The property is zoned Mixed Use Medium Scale (MX-M), offering flexibility for various uses, excluding pharmacies. Nearby national retailers include Walmart, McDonald's, Starbucks, Shell, Dutch Bros, and Bank of Colorado. The property is offered "as-is," and all offers are subject to the approval of Walgreens' Real Estate Committee. This presents a compelling opportunity for businesses seeking a well-located, established space in a thriving commercial area, just four miles from the Colorado Springs Airport and Peterson Space Force Base. The property's size, amenities, and location make it an ideal choice for a variety of businesses seeking high visibility and strong traffic counts.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 2002
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 14,356 SF
Lot 1.69 ac (73,616 SF)
Zoning code C5 AO
APN 6414101044
UPID US13-2748454
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • The Fiesta Grill (Food Truck) Restaurant
  • COVID-19 Drive-thru Testing at Walgreens Medical Laboratory
  • FedEx OnSite Postal Service Courier Service
  • Western Union Bank Credit Union
  • Walgreens Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$7.00M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$7.05M
Owner & transaction history
Sky Blue Ventures LLC · 4 yrs held
Sky Blue Ventures LLC
since 2021
Last sale
$7.2M
6 recorded transactions
2021
$7.2M
2018
$6.6M
2016
Price N/A
2005
Price N/A
2005
$6.9M
2002
$5.2M
Zoning & alternative use
C5 AO · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $6.3M +108.3%
Apartment house (5+ units) $5.9M +94.2%
Commercial (general) $5.5M +83.1%
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