2817 Nevada AveColorado Springs, CO 80907

Property Details for 2817 Nevada Ave

Year built

1939

Construction

WOOD FRAME

Lot size

0.87 AC

Property size (Sq ft)

4,296 SF

Zone code

C6 NNA

Property type

Retail properties

Property subtype

Turn key restaurants

APN

6331409018

APU

6331409018

Description

This exceptional restaurant opportunity is located at 2817 N Nevada Ave in Colorado Springs, Colorado, within the highly desirable 80907 zip code. The property boasts a spacious 5,500 square foot building situated on a substantial 37,970 square foot lot, offering ample space for both indoor and outdoor dining or expansion. Built in 1939, the property includes two buildings and provides 74 parking spaces, ensuring convenient access for patrons. The asking price is $999,500, translating to $262.73 per square foot. The property benefits from a C6 NN0 permitted zoning classification and enjoys excellent visibility and accessibility from Nevada Avenue, a major north-south thoroughfare in Colorado Springs. Its strategic location offers close proximity to thriving retail developments, including Vasa Fitness and Roadhouse Cinema, and provides easy access to downtown Colorado Springs and Interstate 25, ensuring high traffic volume and visibility. The existing infrastructure includes a robust 1 1/2 inch water service, a 1 1/4 inch gas service, and a 120/480 electrical service, providing a solid foundation for a new restaurant concept. This vacant property presents a unique chance to establish a successful restaurant business in a prime Colorado Springs location. The property's size, parking, and location combine to create a compelling investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,381,333

  6.5%

  $1,275,076

  7%

  $1,184,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $894,438

  Geo Method

  $894,438

• Alternative Use

  Use

  Valuation

  Residential

  $1,075,575

  Hospitality

  $985,221

  Educational

  $819,692

  Medical

  $847,882

  Retail

  $1,275,076

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8725

Longitude

-104.819

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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