Now for Sale: 520 West Colorado Avenue: This is a fully renovated NNN retail building-investment located in the heart of Downtown West, in Colorado Springs. It’s newly on the market for $1,600,000. The building is approximately 10,347 square feet and generates approximately $105,000 in absolute net income. ($105,000/$1,600,000 = 7% cap rate).
The building was recently renovated by the Seller including upgrades and replacements to HVAC, electrical, the parking facility and the roof.
This is a 3-unit retail rental. All 3 tenants have relatively-newly-written leases with several years to expiration each with good rent bumps. The current rents are below market providing upside income potential.
For a private showing and all the confidential financial details, call Holly Trinidad: 719-337-0999 or Tim Leigh: 719-337-9551