2175 Academy BlvdColorado Springs, CO 80909

Property Details for 2175 Academy Blvd

Year built

1985

Property size (Sq ft)

10,392 SF

Property type

Office properties

Property subtype

Other office properties

Description

This exceptional three-story, 10,392 square foot executive office building in Colorado Springs, CO presents a compelling investment opportunity. Built in 1985 and extensively renovated in 2022, the Class B property boasts 95% occupancy with stable, reliable tenants who maintained consistent payments even during the COVID-19 pandemic. The building features 35 parking spaces, a recently updated parking lot, and convenient 24/7 access with self-locking doors outside of business hours. Amenities include a kitchen and break room, ample natural light in many suites with stunning Pikes Peak views, and men's and women's restrooms on each floor. The building is equipped with central heating and air conditioning and is handicap accessible on the main floor. The property is offered at $1,499,000, representing a 6.90% cap rate and a price per square foot of $144.25. The sale is structured for a 1031 exchange, making it an attractive option for investors seeking tax advantages. The building's strong financial performance, coupled with its desirable location at 2175 N Academy Blvd, Colorado Springs, CO 80909, makes it an ideal acquisition for discerning investors. The nearly 100% rentable space and low maintenance requirements further enhance its appeal.

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.864

Longitude

-104.757

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