520 – 522 W Colorado Avenue
Colorado Springs, Colorado 80905

Gallery

For Lease, For Sale,

OVERVIEW

Space for rent. Building for sale. 520 West Colorado Avenue: We’re now offering very cool retail space for lease in the Downtown West Neighborhood (or buy the building) – terrific Cap Rate Investment. The asking lease rate is only $14 NNN. The sale price is $1,700,000.

Downtown West is the area directly west of downtown and the Olympic Museum. The building was 100% leased until last Friday, until government intrusion (planning & zoning) killed our last deal. Our loss is your gain. We now have 2,870 sf available with polished concrete floors and high wood beamed ceilings. There is good, on-site parking (dedicated parking lot behind the building). The co-Tenants are Fallen Heroes (#1 tattoo shop in the USA) and Who Gives a Scrap (a prominent up-cycling social-enterprise retailer).

The building is for sale (8% cap rate). The current Proforma NOI is: $131,685. The asking price is $1,700,000 with a new roof installed or $1,650,000 “as is”. The roof could likely limp along with nominal repairs over time. There are no know capital costs or other issues. This property is very clean.

Quick Stats

SALE PRICE:
$1,700,000
LEASE RATE:
$14.00 SF/YR (NNN)
SIZE:
2,870 SF
LOT SIZE:
12,000 SF
TYPE:
Office, Retail,
ZONING:
C-6

Available Spaces


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