123 Manitou AveManitou Springs, CO 80829

Property Details for 123 Manitou Ave

Year built

1937

Construction

WOOD FRAME

Lot size

2.18 AC

Property size (Sq ft)

2,494 SF

Zone code

C

Property type

Hospitality properties

Property subtype

Motels

APN

7404411024

APU

7404411024

Description

This exceptional 2.18-acre commercial land parcel presents a rare development opportunity in Manitou Springs, Colorado. Located at 123 Manitou Ave, this highly visible site boasts a prime location between the Broadmoor and Garden of the Gods neighborhoods, benefiting from significant daily traffic along Highway 24 and Manitou Avenue. The property is zoned C-Commercial, allowing for diverse development options. Environmental remediation is complete, and the site has been rough-graded. Utilities, including water (two existing service lines), sewer, gas, and electricity, are stubbed to the property. Two existing curb cuts on Manitou Avenue provide convenient access. The property also includes two existing monument signs, one on Manitou Avenue and a grandfathered sign on Highway 24, offering significant advertising potential. The owner is open to various transaction structures, including ground lease (preferred), build-to-suit, or outright sale. The parcel may be considered for division. This is an unparalleled chance to capitalize on a highly desirable location with significant infrastructure already in place. Buyer or lessee is responsible for verifying site conditions. APN: 7404411024.

• CAP approach

  CAP return

  Valuation

  6%

  $619,623

  6.5%

  $571,960

  7%

  $531,106

• Comparable approach

  Method

  Valuation

  Relative Method

  $484,228

  Geo Method

  $484,228

• Alternative Use

  Use

  Valuation

  Residential

  $624,414

  Hospitality

  $571,960

  Educational

  $475,864

  Medical

  $492,230

  Retail

  $740,233

Location Insight

City

Manitou Springs

County

El Paso

State

Colorado

Latitude

38.8576

Longitude

-104.893

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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