1828 Spg Water PtColorado Springs, CO 80921

Property Details for 1828 Spg Water Pt

Year built

2008

Property size (Sq ft)

14,926 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional Class A, two-story retail storefront in Colorado Springs, CO, presents a compelling investment opportunity. Located at 1828 Spring Water Pt, 80921, this 14,926 square foot building sits on an 11,883 square foot lot and boasts a prime location near I-25 & Interquest Pkwy, surrounded by thriving businesses including In-n-Out Burger, Slim Chickens, and more. The property, built in 2008 and extensively renovated in 2022, is currently 100% occupied by five tenants under NNN leases, with a lease commencement date of January 1, 2022, and an expiration date of November 30, 2028. The current Net Operating Income (NOI) is $397,952, yielding a 6.63% cap rate. Tenants include a diverse mix of businesses such as a salon, beauty supply store, yoga studio, pet grooming service, and a comedy club. The asking price is $6,000,000, translating to $401.98 per square foot. The property is zoned PUD and features a multi-tenant configuration. This investment offers a strong, stable income stream with significant upside potential in a rapidly growing area. The building consists of one structure with two stories. All first-floor tenants commenced occupancy on January 4, 2022, with the second-floor tenant anticipated to occupy in August 2022. Each tenant has signed a lease term of either five or seven years.

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.9879

Longitude

-104.793

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