3060 Academy BlvdColorado Springs, CO 80917

Property Details for 3060 Academy Blvd

Year built

1985

Construction

WOOD FRAME

Lot size

0.74 AC

Property size (Sq ft)

7,943 SF

Zone code

OC

Property type

Office buildings

APN

6334104011

APU

6334104011

Description

This exceptional two-story, 7,943 square foot executive office building, located at 3060 N. Academy Boulevard in Colorado Springs, Colorado, presents a unique owner-user opportunity. Currently boasting 100% occupancy with six tenants generating a strong NOI of $79,375 and a 6.35% cap rate, this Class B property offers significant income potential. Built in 1984 and extensively renovated in 2022, the building features a new roof and stucco exterior, new carpet on the lower level, and a professionally decorated interior. The property includes a security system, high-speed internet access, and abundant natural light thanks to windows in nearly every office. The 32,433 square foot lot provides ample parking (4 spaces per 1,000 sq ft). The building enjoys excellent visibility and accessibility from Academy Boulevard and Parkmoor Village Drive, with easy access to major thoroughfares like Austin Bluffs Parkway and Powers Boulevard. Approximately 3,000 square feet is currently owner-occupied and could be readily adapted to suit a new owner's needs, either by reducing the owner's space or by occupying the entire building. The asking price is $1,250,000 ($157.37/sq ft). This is a turnkey investment opportunity with strong cash flow and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,737,406

  6.5%

  $1,603,759

  7%

  $1,489,205

• Comparable approach

  Method

  Valuation

  Relative Method

  $656,251

  Geo Method

  $656,251

• Alternative Use

  Use

  Valuation

  Residential

  $1,988,661

  Hospitality

  $1,821,603

  Educational

  $1,515,552

  Medical

  $1,567,675

  Retail

  $2,357,526

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8756

Longitude

-104.758

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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