2960 Academy BlvdColorado Springs, CO 80917

  • Office properties
  • 7,356 SF
For Sale
$1,300,000 View listing

Property Details for 2960 Academy Blvd

Year built
1978
Construction
WOOD FRAME
Lot size
0.52 AC
Property size (Sq ft)
7,356 SF
Zone code
OC
Property type
Office properties
Property subtype
Office buildings
APN
6334401013
APU
6334401013

Description

This exceptional two-story, 7,356 square foot executive office building in Colorado Springs, Colorado, is situated on a 0.52-acre lot at 2960 N Academy Blvd, zip code 80917. Built in 1978, the Class B property boasts prominent frontage and high visibility on the North Academy corridor, south of Austin Bluffs. The building features a recently remodeled first floor and several existing leases, presenting a compelling owner-user opportunity with potential for additional rental income. The property is zoned OC and benefits from the ongoing growth in the Academy corridor. The 2023 property taxes were $18,104.02. This move-in-ready building offers a rare combination of attractive office space and investment potential, making it a highly desirable acquisition in a competitive market. The asking price is $1,300,000, translating to $176.73 per square foot.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,609,009
    6.5%
    $1,485,239
    7%
    $1,379,150
  • Comparable approach

    Method
    Valuation
    Relative Method
    $607,753
    Geo Method
    $607,753
  • Alternative Use

    Use
    Valuation
    Residential
    $1,841,696
    Hospitality
    $1,686,984
    Educational
    $1,403,551
    Medical
    $1,451,821
    Retail
    $2,183,301
2960 Academy Blvd, Colorado Springs, Colorado

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8749
Longitude
-104.758
CBSA code
17820
CBSA name
COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,925
$34,210
$301,310
$335,520
-
$122,634
$1,079,973
$1,202,607

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