1150 Kelly Johnson BlvdColorado Springs, CO 80920

Property Details for 1150 Kelly Johnson Blvd

Year built

2000

Construction

WOOD FRAME

Lot size

1.95 AC

Property size (Sq ft)

46,245 SF

Zone code

PIP1

Property type

Office properties

Property subtype

Office buildings

APN

6305301004

APU

6305301004

Description

This exceptional investment opportunity presents a two-story, 45,796 square foot office building situated on a 4.08-acre lot at 1150 Kelly Johnson Blvd, Colorado Springs, CO 80920. Built in 2000 and renovated in 2020, the property boasts a strong 91.5% occupancy rate across four tenants. The building features state-of-the-art operating systems and excellent signage potential, capitalizing on its strategic location near the intersection of I-25 and N. Academy Blvd, a high-traffic area with numerous offices, retail establishments, and restaurants. The asking price is $9,250,000, representing a compelling cap rate of 8.01% and a price per square foot of $201.98. The property is zoned PIP1 and offers incredible mountain views. This multi-tenant building presents a rare opportunity to acquire a well-maintained, high-performing asset in a thriving Colorado Springs market. The property's strong tenant base and desirable location make it an attractive investment for discerning buyers seeking stable income and significant appreciation potential. This is a turnkey investment ready for immediate cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $10,115,363

  6.5%

  $9,337,258

  7%

  $8,670,311

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,820,762

  Geo Method

  $3,820,762

• Alternative Use

  Use

  Valuation

  Residential

  $11,578,200

  Hospitality

  $10,605,569

  Educational

  $8,823,709

  Medical

  $9,127,170

  Retail

  $13,725,770

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.9471

Longitude

-104.808

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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