1785 Academy BlvdColorado Springs, CO 80909

  • Industrial properties
  • 23,680 SF
For Sale
$1,795,000 View listing

Property Details for 1785 Academy Blvd

Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.89 AC
Property size (Sq ft)
23,680 SF
Zone code
PBC
Property type
Industrial properties
Property subtype
Distribution centers
APN
6402307030
APU
6402307030

Description

This exceptional 24,173 square foot mixed-use property, located at 1785 N Academy Blvd in Colorado Springs, CO 80909, presents a compelling investment opportunity. Boasting a 9.65% cap rate and a pro-forma cap rate of 11.99%, this property is priced at $1,795,000 ($74.26/SF), significantly below replacement costs. Built in 1973 and extensively renovated in 2019 (over $600,000 in improvements), the building features a 55% new roof, updated LED lighting, upgraded power supply, ADA-compliant entries and restrooms, and updated paint and flooring. The 1.89-acre lot provides ample parking (66 paved spaces, a 2.75/1,000 SF ratio). Its prime location at the intersection of North Academy Boulevard (50,000 vehicles per day) and Constitution Avenue (15,000 vehicles per day) offers exceptional visibility and accessibility. The property's zoning (MX-M) allows for diverse uses, including light warehouse, indoor agriculture, creative loft space, office, psychotherapy, healthcare, and photography studios. Currently, the building enjoys 77.76% occupancy. Its strategic placement adjacent to the Rustic Hills North Industrial Commerce Redevelopment and near Sand Creek and the Homestead Trail (over 100 miles of trails) adds further value. This is a rare opportunity to acquire a well-maintained, high-performing asset in a thriving Colorado Springs location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $5,928,680
    Hospitality
    $5,430,638
    Educational
    $4,518,228
    Medical
    $4,673,616
    Retail
    $7,028,354
1785 Academy Blvd, Colorado Springs, Colorado

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8584
Longitude
-104.754
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
$20,483
$59,720
$322,510
$382,230
-
$214,053
$1,155,964
$1,370,017

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