4935 Centennial Blvd, Colorado Springs, CO 80919
- Strip malls
- 11,884 SF
- 1.51 lot acres
Current Use by Public Records
- Marco's Pizza - Northwest COS / Restaurant
- Michael Allen's Hair Design / Barber Shop
- Friedman Brothers A/C Masters / Hardware & Home Improvement / Home Appliance Store
- Canyon Crest Wine, Liquor, & Beer / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
- Golden Flame Hot Wings / Restaurant
Property Details for 4935 Centennial Blvd
- Year built
- 1984
- Construction
- WOOD FRAME
- Lot size
- 1.51 lot acres
- Zone code
- PBC HS
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 7323402008
- APU
- 7323402008
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 30, 2023 | — | Joshua Penn | — | Deed · related | $800k · Security Service FCU |
| Sep 8, 2023 | $2,800,000 | Penn Family Trust | Centennial Shopping Center LLC | Special Warranty Deed | — |
| Nov 19, 2021 | — | Centennial Shopping Center LLC | — | Deed · related | $100k · The Eastern Colorado Bank |
| Aug 24, 2021 | — | Centennial Shopping Center LLC | — | Deed · related | $50k · The Eastern Colorado Bank |
| Feb 16, 2018 | $1,900,000 | Centennial Shopping Center LLC | Centennial Partners LLC | Special Warranty Deed | $1.3M · The Eastern Colorado Bank |
| Oct 23, 2007 | $2,150,000 | Centennial Partners | J Thomas Stoen | Warranty Deed | $1.6M · Citibank NA |
| Mar 12, 2004 | — | J T Stoen | — | Deed Of Trust · related | $2.2M · Bank One NA |
Description
This 11,884 square foot shopping center, built in 1984, presents a unique investment opportunity in El Paso County. Located at the high-visibility corner of Centennial Blvd and Pinon Valley Rd, the center boasts ample parking (68 spaces) and prominent pylon signage on Centennial Blvd. Currently, two spaces are available, ranging from 1,277 to 1,726 square feet, with a total of 3,003 square feet currently vacant. The center enjoys a strong tenant mix including Marco's Pizza, Canyon Crest Wine, Liquor & Beer, and Golden Flame Hot Wings. Suite A, a former bakery, offers a significant advantage with its existing commercial kitchen, grease trap, walk-in cooler, and three-compartment sink. Pre-approved plans exist for a drive-thru addition to Suite A, enhancing its potential. The property is zoned PBC-HS and benefits from excellent demographics, including above-average household incomes, a densely populated area, proximity to major employers and corporations, high traffic counts on Centennial Blvd, and easy access to I-25. This location offers exceptional visibility and accessibility, making it an ideal retail space. The minimum divisible space is 1,277 square feet.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,725,000
- ML approach
- $2,840,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,740,000
- 6.5%
- $2,525,000
- 7%
- $2,345,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,366,000
Market price range: $1.57M - $4.72M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $3,165,000 Current use
- COMMERCIAL (GENERAL)
- $4,570,000 Change: +44% Conversion: Easy
- AUTO REPAIR, GARAGE
- $2,925,000 Change: -8% Conversion: Difficult
- MEDICAL BUILDING
- $2,860,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.857
- Latitude
- 38.9038
- CBSA code
- 17820
- CBSA name
- COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA
