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1501 W Colorado - Retail + 2 Lux Apartments 1501 W Colorado Ave 5,472 SF 1% Leased Retail Building Colorado Springs, CO 80904 $1,599,000 ($292.21/SF) 7.22% Cap Rate
Investment Highlights
- In close proximity to Old Colorado City, one of the city’s most sought-after historic districts.
- Positioned at a four-way stoplight intersection (W Colorado Ave and 15th St) with approximately 12,400 cars passing daily, offering excellent exposure
Executive Summary
Beautiful building in West Colorado Springs near Old Colorado City. Retail, Office, Workshop and 2 Luxury Apartments. Newly renovated throughout with infrastructure and aesthetic upgrades throughout. New custom engineered electrical system throughout. New HVAC throughout (with 3 zoned units). New floors and finished in retail and office spaces. Top to bottom renovation of 2 upstairs apartments. Back apartment is 2 bed/1 bath with front and rear entrances and back deck with incredible views. Fully renovated kitchen with new appliances. Fully renovated bathroom with high-end finishes. Front apartment is 1 bed/1 bath with fully renovated kitchen and bathroom. Shared laundry space for apartments upstairs. Gravel lot parking with room for 12+ cars/customers. Tons of storage space in unfinished basement. Run your retail business on main level and live upstairs, or rent out everything and cashflow. Closing and possession are flexible.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,472 SF
Building Class
C
Year Built
1901
Price
$1,599,000
Price Per SF
$292.21
Cap Rate
7.22%
NOI
$115,500
Percent Leased
1%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.74
Lot Size
0.17 AC
Zoning
C5
Parking
8 Spaces (1.75 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 74132-05-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $285,320 |
Property Taxes
Parcel Number
74132-05-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$285,320
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1501 W Colorado - Retail + 2 Lux Apartments | 1501 W Colorado Ave
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