307 Arvada StColorado Springs, CO 80905

Property Details for 307 Arvada St

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.44 AC

Property size (Sq ft)

1,488 SF

Zone code

C5 CU

Property type

Showrooms

APN

6419412003

APU

6419412003

Description

This exceptional mixed-use property, located at 307 E Arvada St, Colorado Springs, CO 80905, presents a compelling investment opportunity. The 1,488 square foot, single-story building, renovated in 2014, boasts a creative office layout featuring a showroom and three dedicated offices. The property includes 70 parking spaces and sits on a sizable 0.76-acre lot, offering significant potential for various uses. Currently occupied by a tenant under a two-year lease at $9,000 per month, escalating to $9,900 in the second year, this property also generates an additional $2,000 monthly income from a highway traffic camera. The building features energy-efficient LED lighting throughout. Zoned C5 CU, this versatile space is ideal for a variety of businesses, including auto dealerships, storage facilities, or construction companies. The property's high visibility and convenient I-25 access make it an exceptional investment. The asking price is $1,195,000, representing a price per square foot of $803.09. This is a single-unit, Class C building with 100% occupancy. The property consists of two adjacent lots combined into one.

• CAP approach

  CAP return

  Valuation

  6%

  $478,450

  6.5%

  $441,647

  7%

  $410,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $309,805

  Geo Method

  $309,805

• Alternative Use

  Use

  Valuation

  Residential

  $372,545

  Hospitality

  $341,250

  Educational

  $283,916

  Medical

  $293,680

  Retail

  $441,647

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8137

Longitude

-104.82

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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