1380 21St StColorado Springs, CO 80904

Property Details for 1380 21St St

Year built

1978

Construction

WOOD FRAME

Lot size

0.41 AC

Property size (Sq ft)

1,725 SF

Zone code

C6

Property type

Office buildings

APN

7414216022

APU

7414216022

Description

This exceptional investment opportunity presents a portfolio of two buildings totaling 5,300 square feet situated on a 36,000 square foot lot in Colorado Springs, Colorado. The property, located at 1332 & 1380 S 21st St, boasts a highly desirable C6 zoning designation. Built in 1978, the main building offers a flexible layout currently configured as three potential units. A street-level suite, ideal for retail use, faces 21st Street, while the remaining space is well-suited for office tenants. The second building is a warehouse with a restroom. Both buildings are in excellent, move-in condition, having undergone a complete renovation by the current owner. An additional vacant lot on the property presents further development potential. The location provides easy access to Highway 24 and offers stunning views of downtown Colorado Springs and the surrounding mountains. This mixed-use property encompasses storefront, traditional office, and warehouse space, making it a versatile investment with strong potential for rental income and future appreciation. The asking price for this remarkable portfolio is $1,595,000.

• CAP approach

  CAP return

  Valuation

  6%

  $377,316

  6.5%

  $348,292

  7%

  $323,414

• Comparable approach

  Method

  Valuation

  Relative Method

  $142,520

  Geo Method

  $142,520

• Alternative Use

  Use

  Valuation

  Residential Income

  $431,882

  Hospitality / Lodging

  $395,602

  Institutional / Educational

  $329,136

  Healthcare / Senior Housing

  $340,456

  Retail / Commercial

  $511,989

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8345

Longitude

-104.86

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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