304 8Th StColorado Springs, CO 80905

Property Details for 304 8Th St

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.66 AC

Property size (Sq ft)

36,576 SF

Zone code

C6 SS

Property type

Office buildings

APN

7413314009

APU

7413314009

Description

This exceptional retail property, located at 304 S 8th St in Colorado Springs, CO 80905, presents a unique investment opportunity. The single, two-story building encompasses 36,742 square feet and sits on a generous 4.66-acre lot. Currently, there are four suites available, offering flexible space options ranging from a minimum of 640 square feet to a maximum contiguous space of 3,360 square feet. A significant 6,600 square feet is currently vacant, providing immediate occupancy potential for expanding businesses or new ventures. Built in 1983, the property is zoned MX-L and is situated in the desirable CO - Colorado Springs Southwest submarket of El Paso County. The property's location offers excellent visibility and accessibility, making it an ideal location for a variety of retail businesses. This is a rare opportunity to acquire a well-located retail center with significant potential for growth and profitability in a thriving Colorado Springs market. The property's multiple suite configuration allows for diverse tenancy options, catering to a range of business needs and sizes. Don't miss this chance to secure a prime retail location in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $9,067,140

  6.5%

  $8,369,670

  7%

  $7,771,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,021,910

  Geo Method

  $3,021,910

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $16,764,600

  Retail / Commercial

  $8,540,690

  Mixed-Use / Specialty

  $8,466,020

  Hospitality / Lodging

  $6,153,680

  Institutional / Educational

  $8,785,450

  Residential Income

  $10,279,000

  Multifamily

  $12,573,200

  Automotive / Energy

  $7,530,390

  Parking / Income-Based Land

  $2,642,330

  Restaurant / Food Service

  $4,308,870

  Healthcare / Senior Housing

  $8,727,100

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.831

Longitude

-104.842

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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