3044 Colorado AveColorado Springs, CO 80904

Property Details for 3044 Colorado Ave

Year built

1909

Construction

WOOD FRAME

Lot size

0.11 AC

Property size (Sq ft)

714 SF

Zone code

C5

Property type

Retail space

APN

7410102011

APU

7410102011

Description

This 714-square-foot storefront, located at 3044 West Colorado Avenue in Colorado Springs, Colorado, is offered for sale at $300,000. Situated on the Highway 24 corridor, at the intersection of West Colorado Avenue and 31st Street, this property benefits from high traffic counts and a convenient location just west of Old Colorado City. Currently operating as a dispensary with a long-term lease in place, this versatile space presents multiple potential uses. The C5 zoning allows for a variety of commercial and retail businesses. The asking price equates to $420.17 per square foot. This investment opportunity is ideally situated for businesses seeking exposure to a high-traffic area, minutes from Manitou Springs and Downtown Colorado Springs. The property's address is 3044 W Colorado Ave, Colorado Springs, CO 80904.

• CAP approach

  CAP return

  Valuation

  6%

  $229,579

  6.5%

  $211,919

  7%

  $196,782

• Comparable approach

  Method

  Valuation

  Relative Method

  $148,657

  Geo Method

  $148,657

• Alternative Use

  Use

  Valuation

  Residential

  $178,762

  Hospitality

  $163,745

  Educational

  $136,234

  Medical

  $140,919

  Retail

  $211,919

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8532

Longitude

-104.872

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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