1155 Academy Park LoopColorado Springs, CO 80910

  • Office properties
  • 50,190 SF
For Sale
$9,990,000 View listing

Property Details for 1155 Academy Park Loop

Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
4.46 AC
Property size (Sq ft)
50,190 SF
Zone code
PBC AO
Property type
Office properties
Property subtype
Office buildings
APN
6422409003
APU
6422409003

Description

This exceptional investment opportunity presents a 50,012 square foot retail building located at 1155 Academy Park Loop, Colorado Springs, CO 80910. The property boasts a compelling 9.26% cap rate and a price per square foot of $199.75, significantly below replacement cost. The asking price is $9,990,000. The building, originally constructed in 2002 (35,000 sq ft) and expanded in 2005 (15,000 sq ft) by Panatonni Construction, features a secure loading bay and other improvements added during the 2005 expansion. Substantial renovations were completed within the last decade to meet tenant needs. The property sits on a 4.47-acre lot and includes 220 parking spaces. It is currently under a 5-year net lease (NN+) with MITRE Corporation, a financially sound non-profit organization in the science and technology sector, generating over $2.2 billion in revenue in 2022. This ensures a stable and reliable income stream with limited landlord responsibilities. The property's strategic location in Colorado Springs offers easy access to major thoroughfares and proximity to Peterson Space Force Base, Fort Carson, and NORAD. The permitted zoning is MX AO. This presents a strong investment opportunity with significant potential for long-term growth and sustainability in the Colorado Springs commercial real estate market. The substantial NOI of $925,222 further underscores the financial strength of this offering.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $10,978,269
    6.5%
    $10,133,787
    7%
    $9,409,945
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,146,698
    Geo Method
    $4,146,698
  • Alternative Use

    Use
    Valuation
    Residential
    $12,565,896
    Hospitality
    $11,510,293
    Educational
    $9,576,429
    Medical
    $9,905,777
    Retail
    $14,896,667
1155 Academy Park Loop, Colorado Springs, Colorado

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8166
Longitude
-104.76
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
$108,000
$192,420
$1,919,660
$2,112,080
-
$689,683
$6,880,487
$7,570,170

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