2960 Academy BlvdColorado Springs, CO 80917

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 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.

• 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

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

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