901 Motor City DrColorado Springs, CO 80905

Property Details for 901 Motor City Dr

Year built

1984

Construction

WOOD FRAME

Lot size

0.19 AC

Property size (Sq ft)

960 SF

Zone code

C6

Property type

Retail properties

Property subtype

Auto shops

APN

7424104029

APU

7424104029

Description

This 1,858 square foot vacant auto shop, located at 901 Motor City Drive in Colorado Springs, Colorado, presents a compelling investment opportunity. Priced at $424,000 ($228.20/sq ft), this NNN-lease property sits on a 0.19-acre lot and boasts high visibility due to its strategic location at the entrance to Motor City on 8th Street. The building, previously used as an automotive dealership, offers flexible zoning (C-6) suitable for a variety of retail, industrial, or office uses. Key features include a paved lot secured by a gate, a dedicated sales office, and a sizable garage. High traffic counts ensure significant exposure for any business. The property's vacant status allows for immediate occupancy and customization to suit a new tenant's specific needs. This is an exceptional chance to acquire a well-positioned commercial property in a thriving Colorado Springs location. The property is located in El Paso County, zip code 80905.

• CAP approach

  CAP return

  Valuation

  6%

  $308,678

  6.5%

  $284,933

  7%

  $264,581

• Comparable approach

  Method

  Valuation

  Relative Method

  $199,874

  Geo Method

  $199,874

• Alternative Use

  Use

  Valuation

  Residential

  $240,352

  Hospitality

  $220,161

  Educational

  $183,171

  Medical

  $189,471

  Retail

  $284,933

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8219

Longitude

-104.84

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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