4700 Nevada AveColorado Springs, CO 80918

Property Details for 4700 Nevada Ave

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.56 AC

Property size (Sq ft)

3,529 SF

Zone code

C6

Property type

Motels

APN

6319402020

APU

6319402020

Description

This 12-unit motel in Colorado Springs, Colorado presents a compelling investment opportunity. Located at 4700 N Nevada Ave, this 3,529 square foot property sits on a 0.56-acre lot and boasts a highly visible location. Built in 1954, the property is zoned C6, offering diverse redevelopment potential beyond its current use as a profitable motel. The asking price is $1,100,000, representing a price per square foot of $311.70. Financial projections indicate a 9.8% cap rate and a projected 2024 Net Operating Income (NOI) of $108,696.34. Additional income is generated from a billboard, yielding approximately $5,000 annually. 2023 property taxes totaled $6,237.18. The property includes a large on-site manager's suite and benefits from two buildings. This unique property offers a strong return on investment with significant upside potential for future development or continued operation as a successful motel. The property's prime location and flexible zoning make it an attractive proposition for savvy investors seeking a strong cash flow and long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $876,764

  6.5%

  $809,321

  7%

  $751,512

• Comparable approach

  Method

  Valuation

  Relative Method

  $685,180

  Geo Method

  $685,180

• Alternative Use

  Use

  Valuation

  Residential

  $883,544

  Hospitality

  $809,321

  Educational

  $673,346

  Medical

  $696,503

  Retail

  $1,047,427

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8993

Longitude

-104.819

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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