2886 Circle DrColorado Springs, CO 80906

Property Details for 2886 Circle Dr

Year built

1974

Lot size

16.85 AC

Property size (Sq ft)

229,159 SF

Zone code

PBC

Property type

Hotels

APN

6429408015

APU

6429408015

Description

This exceptional retail space, totaling 2,580 square feet, is available for lease within the recently renovated Alta Apartments complex in Colorado Springs, CO. Located at 2886 S Circle Dr, 80906, this property boasts excellent visibility and accessibility, situated directly off I-25 and Circle Drive, ensuring high traffic exposure. Previously used as a bar/lounge, the space retains existing infrastructure suitable for similar uses, although it lacks a hood or grease trap. The versatile layout presents numerous possibilities, including a boutique, retail store, meeting space, social house, design studio, clothing or gift store, dispatch center, or community church. The space benefits from its proximity to the apartment complex's main lobby, providing direct access to 496 residential units. Building and monument signage opportunities are available, further enhancing visibility and brand recognition. The building itself was constructed in 1974 and underwent a complete renovation in 2024. The total building square footage is 317,772 square feet, with this particular space offering flexibility for various business types. This location in El Paso County offers a unique opportunity to establish a thriving business within a vibrant residential community. The space is part of a larger multi-tenant building.

• CAP approach

  CAP return

  Valuation

  6%

  $56,933,544

  6.5%

  $52,554,040

  7%

  $48,800,180

• Comparable approach

  Method

  Valuation

  Relative Method

  $44,492,824

  Geo Method

  $44,492,824

• Alternative Use

  Use

  Valuation

  Residential

  $57,373,744

  Hospitality

  $52,554,040

  Educational

  $43,724,344

  Medical

  $45,228,092

  Retail

  $68,015,648

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.7981

Longitude

-104.796

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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