924 Manitou AveManitou Springs, CO 80829

Property Details for 924 Manitou Ave

Year built

1936

Construction

WOOD FRAME

Lot size

0.07 AC

Property size (Sq ft)

1,055 SF

Zone code

DWTN

Property type

Retail properties

Property subtype

Bars

APN

7405343011

APU

7405343011

Description

This exceptional 1,170-square-foot restaurant located at 924 Manitou Avenue in Manitou Springs, Colorado, presents a unique investment opportunity. Priced at $895,000, this property boasts a rich history, having served as a community staple since 1948, though recently closed due to personal reasons. Situated in the heart of Manitou Springs, a town renowned for its mineral springs and proximity to Garden of the Gods and Pikes Peak, this location benefits from exceptionally high foot traffic. The building itself features charming aesthetics, including beautiful hardwood floors and three walls of glass, maximizing natural light and showcasing the vibrant atmosphere. Its prime location next to the famous Penny Arcade further enhances its visibility and accessibility to the over 250,000 annual visitors to Manitou Springs. Built in 1935, this property offers a blend of historical charm and modern potential, making it an ideal opportunity for a discerning restaurateur or investor seeking a well-established location in a thriving tourist destination. The property is zoned for retail use and is situated in El Paso County, Colorado, zip code 80829.

• CAP approach

  CAP return

  Valuation

  6%

  $339,224

  6.5%

  $313,130

  7%

  $290,763

• Comparable approach

  Method

  Valuation

  Relative Method

  $219,654

  Geo Method

  $219,654

• Alternative Use

  Use

  Valuation

  Residential

  $264,137

  Hospitality

  $241,948

  Educational

  $201,298

  Medical

  $208,221

  Retail

  $313,130

Location Insight

City

Manitou Springs

County

El Paso

State

Colorado

Latitude

38.8588

Longitude

-104.918

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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