1155 Academy Park LoopColorado Springs, CO 80910
- Office properties
- 50,190 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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