211 8Th StColorado Springs, CO 80905

Property Details for 211 8Th St

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.52 AC

Property size (Sq ft)

10,555 SF

Zone code

C6 P

Property type

Retail properties

Property subtype

Strip malls

APN

7413404008

APU

7413404008

Description

Cimarron Station, located at 211-229 S Eighth St, Colorado Springs, CO 80905, presents a unique investment opportunity. This exceptional property encompasses 2.52 acres of land, featuring a 10,555 square foot retail building constructed in 1987. The single-story building sits on a lot zoned MX-L, offering significant potential for redevelopment or continued operation. The property boasts excellent visibility and accessibility, situated in a high-traffic area with over 106,100 vehicles passing daily. Its prime location along the rapidly expanding Highway 24 corridor ensures high exposure and strong potential for attracting customers. The close proximity to downtown Colorado Springs and the central business district (CBD) further enhances its desirability. The property's zoning allows for a variety of commercial uses. Additionally, there's a possibility of installing a 30-foot pole sign, providing even greater visibility from Interstate 25. The asking price for this exceptional retail property is $850,000. This presents a rare chance to acquire a well-positioned asset in a thriving Colorado Springs market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,393,847

  6.5%

  $3,132,782

  7%

  $2,909,012

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,197,576

  Geo Method

  $2,197,576

• Alternative Use

  Use

  Valuation

  Residential

  $2,642,619

  Hospitality

  $2,420,624

  Educational

  $2,013,931

  Medical

  $2,083,193

  Retail

  $3,132,782

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8314

Longitude

-104.839

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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