5002 Academy BlvdColorado Springs, CO 80918

Property Details for 5002 Academy Blvd

Year built

1978

Construction

WOOD FRAME

Lot size

2.90 AC

Property size (Sq ft)

29,384 SF

Zone code

PBC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

6321407008

APU

6321407008

Description

Park Place Plaza, located in El Paso County, offers exceptional retail space for lease. This multi-tenant property, built in 1961 and extensively renovated in 2021, boasts a total of 34,356 square feet. Five spaces are currently available, ranging from a minimum of 158 square feet to a maximum contiguous space of 3,657 square feet. A significant 14,824 square feet is currently vacant, presenting a unique opportunity for expansion or multiple tenant occupancy. The property is zoned PBC and offers ample parking with 150 spaces available for tenants and customers. The building's recent renovation ensures modern amenities and a well-maintained environment. This location provides excellent visibility and accessibility, making it ideal for a variety of retail businesses. The flexible space options cater to businesses of all sizes, from small boutiques to larger retail operations. With its convenient location, ample parking, and recent renovations, Park Place Plaza presents a compelling opportunity for businesses seeking a thriving retail presence in El Paso County. Interested parties should inquire about available space and lease terms. The property's zoning designation is PBC.

• CAP approach

  CAP return

  Valuation

  6%

  $9,448,110

  6.5%

  $8,721,332

  7%

  $8,098,380

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,117,820

  Geo Method

  $6,117,820

• Alternative Use

  Use

  Valuation

  Residential

  $7,356,770

  Hospitality

  $6,738,762

  Educational

  $5,606,571

  Medical

  $5,799,390

  Retail

  $8,721,332

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.9036

Longitude

-104.775

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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