320 Santa Fe AveFountain, CO 80817

Property Details for 320 Santa Fe Ave

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.39 AC

Property size (Sq ft)

3,208 SF

Zone code

C-2

Property type

Medical offices

Property subtype

Medical centers

APN

5606414009

APU

5606414009

Description

This 3,208-square-foot Class B medical office building in Fountain, Colorado, is situated on a 17,030-square-foot lot at 320 S Santa Fe Ave, 80817. Priced at $795,000 ($247.82/sq ft), it presents a compelling owner-user opportunity. The property features high visibility along a main thoroughfare leading from I-25 to downtown Fountain, with enhanced accessibility anticipated this year due to city improvements. The building is currently multi-tenant, with 1,000 square feet leased to a state entity on a short-term basis (through May) and 2,000 square feet vacant. The vacant space, previously a dental office for over 30 years, is move-in ready for a similar practice or other suitable uses, such as a daycare or animal hospital. This flexible layout allows for owner-occupancy with supplemental income from the existing lease or long-term rental income from the front space. The modified lease structure provides a unique opportunity to plan renovations coinciding with the lease expiration in the spring. This property offers a blend of immediate income potential and long-term growth prospects in a thriving Colorado community.

• CAP approach

  CAP return

  Valuation

  6%

  $701,699

  6.5%

  $647,722

  7%

  $601,457

• Comparable approach

  Method

  Valuation

  Relative Method

  $265,045

  Geo Method

  $265,045

• Alternative Use

  Use

  Valuation

  Residential

  $803,176

  Hospitality

  $735,705

  Educational

  $612,098

  Medical

  $633,149

  Retail

  $952,152

Location Insight

City

Fountain

County

El Paso

State

Colorado

Latitude

38.68

Longitude

-104.704

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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