4305 Platte AveColorado Springs, CO 80915

Property Details for 4305 Platte Ave

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.69 AC

Property size (Sq ft)

14,356 SF

Zone code

C5 AO

Property type

Retail properties

Property subtype

Outlet malls

APN

6414101044

APU

6414101044

Description

This ±14,490 square foot former Walgreens offers a unique sublease opportunity in a prime East Colorado Springs location. Situated at a prominent retail intersection boasting approximately 60,000 vehicles per day, the property benefits from high visibility and convenient access via front and rear entrances. The building, constructed in 2002, includes a drive-thru, monument signage with a reader board, and building signage, along with approximately 70 parking spaces. The suggested annual rent is $145,000, modified gross (taxes, repairs, and maintenance included; utilities are separate). The sublease term is co-terminus with the master lease, expiring July 31, 2027. The property is zoned Mixed Use Medium Scale (MX-M), offering flexibility for various uses, excluding pharmacies. Nearby national retailers include Walmart, McDonald's, Starbucks, Shell, Dutch Bros, and Bank of Colorado. The property is offered "as-is," and all offers are subject to the approval of Walgreens' Real Estate Committee. This presents a compelling opportunity for businesses seeking a well-located, established space in a thriving commercial area, just four miles from the Colorado Springs Airport and Peterson Space Force Base. The property's size, amenities, and location make it an ideal choice for a variety of businesses seeking high visibility and strong traffic counts.

• CAP approach

  CAP return

  Valuation

  6%

  $4,616,018

  6.5%

  $4,260,940

  7%

  $3,956,587

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,988,954

  Geo Method

  $2,988,954

• Alternative Use

  Use

  Valuation

  Residential

  $3,594,262

  Hospitality

  $3,292,324

  Educational

  $2,739,176

  Medical

  $2,833,380

  Retail

  $4,260,940

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8389

Longitude

-104.747

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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