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

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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