This Office Property is For Lease.

2812 West Colorado Avenue
Colorado Springs, CO 80904 ·

600 SF · Office For Lease

$0.79 /SF/Month

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2812 West Colorado Avenue

Rental Rate $0.79 /SF/Month Building Class C
Total Space Available 600 SF Year Built 1985
Property Type Office Lot Size 0.32 AC
Property Sub-type
Office Building
More...
  • Retail (Other)
Zoning Description C5
Building Size 8,088 SF
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Listing ID: 17203354 Date Created: 06/15/2011 Last Updated: 09/15/2016

1 Space Available

Display Rental Rate as

Space 201

Rental Rate
  • $475 /Month
  • $9.50 /SF/Year
  • $0.79 /SF/Month
  • $5,700 /Year
  • $475 /Month
Space Type Office Building
Space Available 600 SF Lease Type Other

Description

INVESTMENT PROPERTY FOR SALE: This is a very attractive, 2 story, 8,088 square feet, mixed use (office/retail) building located in the historic Old Colorado City shopping district on West Colorado Avenue. The property is fully-leased with seasoned tenants who wish to remain in tenancy. The building is in good physical condition with NO immediate capital improvement costs or management issues expected.

The gross rent (approximately $89,000 (only $11.00 psf)) is below market. Operating costs are approximately $29,000 ($3.63 psf). Of the operating costs, taxes are: $7,750 and insurance is: $3,095.
The effective NOI is $60,000. The asking price, $700,000 (only $86.55 psf) is below replacement cost.

The income divided by the investment ($60,000/$700,000) = 9% cash-on-cash return!

West Colorado Avenue, Between South 28th street and South 29th Street

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2812 West Colorado Avenue, Colorado Springs, CO 80904 (El Paso County)

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