1634 Nevada AveColorado Springs, CO 80906

Property Details for 1634 Nevada Ave

Year built

2018

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.62 AC

Property size (Sq ft)

9,005 SF

Zone code

C5 SS

Property type

Strip malls

Property subtype

Neighborhood centers

APN

6430201029

APU

6430201029

Description

This exceptional retail opportunity presents 9,005 square feet of commercial space within the Ivywild Retail Center, situated at 1634 S Nevada Ave, Colorado Springs, CO 80906. Currently, 2,015 square feet are available for lease, offering a versatile space ideal for a variety of retail businesses. The property is zoned C-5, allowing for a range of commercial uses. The center is strategically located in the South Nevada Urban Renewal Area, a rapidly developing region that has experienced significant improvements and new construction in recent years, promising continued growth and increased foot traffic. This location also benefits from being within a Pikes Peak Enterprise Zone, providing eligible businesses with valuable income tax credits and incentives. The existing building offers multiple tenancies, creating a vibrant and diverse retail environment. The available space provides an excellent chance to establish or expand a business in a thriving and supportive community. This property offers a unique blend of established success and future potential, making it an attractive investment opportunity. The property's prime location and the ongoing revitalization of the surrounding area ensure strong visibility and accessibility for potential customers. Don't miss this chance to secure a space in a dynamic and growing retail center.

• CAP approach

  CAP return

  Valuation

  6%

  $2,895,461

  6.5%

  $2,672,734

  7%

  $2,481,824

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,874,863

  Geo Method

  $1,874,863

• Alternative Use

  Use

  Valuation

  Residential

  $2,254,550

  Hospitality

  $2,065,156

  Educational

  $1,718,186

  Medical

  $1,777,277

  Retail

  $2,672,734

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.81

Longitude

-104.823

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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