5030 Boardwalk DrColorado Springs, CO 80919
- Office buildings
- 6,383 SF
Property Details for 5030 Boardwalk Dr
- Year built
- 1982
- Construction
- CONCRETE
- Lot size
- 0.35 AC
- Property size (Sq ft)
- 6,383 SF
- Zone code
- PBC CU
- Property type
- Office buildings
- APN
- 7323208033
- APU
- 7323208033
Description
This exceptional 6,400 square foot executive office building in Colorado Springs, CO, presents a compelling investment opportunity. Located at 5030 Boardwalk Drive, in the desirable Northwest Corridor, this property offers a prime location near I-25, affluent neighborhoods, and the scenic Garden of the Gods. The building is fully leased, generating an estimated annual income of approximately $90,960 (based on 2024 projections). Four well-appointed suites cater to a stable mix of professional tenants, demonstrating consistent occupancy even during recent economic challenges. Undergoing a complete renovation between 2017 and 2018, the property boasts a new roof, HVAC system, updated interior finishes, new landscaping, and upgraded electrical systems. This meticulously maintained building offers a modern and functional interior layout, perfectly suited for a variety of office users. The asking price is $1,395,000, translating to $217.97 per square foot. Its convenient location, coupled with its strong rental history and recent renovations, makes this a highly attractive investment opportunity with significant potential for future growth. The property's proximity to amenities such as shops, restaurants, and breweries further enhances its appeal. This is a turnkey investment ready for immediate income generation. The zip code is 80919.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,396,180
- 6.5%
- $1,288,782
- 7%
- $1,196,726
-
Comparable approach
- Method
- Valuation
- Relative Method
- $527,363
- Geo Method
- $527,363
-
Alternative Use
- Use
- Valuation
- Residential
- $1,598,090
- Hospitality
- $1,463,842
- Educational
- $1,217,899
- Medical
- $1,259,784
- Retail
- $1,894,509
Location Insight
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Latitude
- 38.9042
- Longitude
- -104.865
- 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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