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Pikeview Point 2761-2771 Briargate Blvd 12,253 SF 100% Leased Retail Building Colorado Springs, CO 80920 $2,800,000 ($228.52/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- High Visibility location at Briargate/Union
- Prime redevelopment opportunity
- Leasing Upside in high growth area
EXECUTIVE SUMMARY
Offered for sale for the first time in more than twenty years is 2761 - 2771 Briargate Boulevard in Colorado Springs, CO.
This eight unit, 5 tenant building on 1.78 acres represent a rare opportunity to purchase a total of 12,043 SF cash flowing NNN asset on a high visibility corner in the desirable Briargate neighborhood in Colorado Springs.
Located adjacent the North Academy and Briargate avenue retail corridors, the property is an ideal cash flowing asset and is primed for redevelopment as QSR or a similar future retail use.
The property was constructed in 1987 and was remodeled in 2016 with the facade, roof most of the HVAC units being replaced at that time. The property has been well-maintained and professionally managed for the last twenty years.
This eight unit, 5 tenant building on 1.78 acres represent a rare opportunity to purchase a total of 12,043 SF cash flowing NNN asset on a high visibility corner in the desirable Briargate neighborhood in Colorado Springs.
Located adjacent the North Academy and Briargate avenue retail corridors, the property is an ideal cash flowing asset and is primed for redevelopment as QSR or a similar future retail use.
The property was constructed in 1987 and was remodeled in 2016 with the facade, roof most of the HVAC units being replaced at that time. The property has been well-maintained and professionally managed for the last twenty years.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
12,253 SF
Building Class
B
Year Built/Renovated
1987/2016
Price
$2,800,000
Price Per SF
$228.52
Cap Rate
6.35%
NOI
$177,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
1.78 AC
Zoning
PBC-CR ,Colorado Springs
Parking
82 Spaces (6.69 Spaces per 1,000 SF Leased)
Frontage
210’ on Briargate Blvd
AMENITIES
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 63044-12-090 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $493,260 |
PROPERTY TAXES
Parcel Number
63044-12-090
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$493,260
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Pikeview Point | 2761-2771 Briargate Blvd
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