1202 Academy BlvdColorado Springs, CO 80909

Property Details for 1202 Academy Blvd

Year built

1970

Construction

STEEL FRAME

Lot size

0.35 AC

Property size (Sq ft)

361 SF

Zone code

R5 C5

Property type

Office buildings

APN

6410116017

APU

6410116017

Description

This 361-square-foot vacant auto shop, built in 1970, sits on a prime corner lot at the intersection of N. Academy Boulevard and Uintah Street in Colorado Springs, Colorado (zip code 80909). Boasting excellent visibility with approximately 45,000 vehicles passing daily, this property presents a unique investment opportunity for owner-users or redevelopment. Located within both an Opportunity Zone and the Pikes Peak Enterprise Zone, it offers significant development potential and potential tax incentives. The flexible MX-M zoning allows for a variety of commercial uses. The asking price of $600,000 reflects a discount to a Q2 2024 appraisal. Seller financing is available for qualified buyers. This single-story building (APN: 6410116017) offers easy right-in access from N. Academy Blvd and shares an access easement with the adjacent property at 1222 N Academy Blvd, which is also available for purchase ($700,000). This high-growth retail corridor presents a compelling opportunity for businesses seeking high visibility and strong traffic counts. The property is currently vacant and ready for immediate occupancy or redevelopment.

• CAP approach

  CAP return

  Valuation

  6%

  $78,963

  6.5%

  $72,889

  7%

  $67,683

• Comparable approach

  Method

  Valuation

  Relative Method

  $29,826

  Geo Method

  $29,826

• Alternative Use

  Use

  Valuation

  Residential

  $90,382

  Hospitality

  $82,790

  Educational

  $68,880

  Medical

  $71,249

  Retail

  $107,147

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8487

Longitude

-104.758

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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