1785 Academy BlvdColorado Springs, CO 80909

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

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.

• Alternative Use

  Use

  Valuation

  Residential

  $5,928,680

  Hospitality

  $5,430,638

  Educational

  $4,518,228

  Medical

  $4,673,616

  Retail

  $7,028,354

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

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