2838 Prospect StColorado Springs, CO 80907

Property Details for 2838 Prospect St

Year built

1973

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.54 AC

Property size (Sq ft)

12,720 SF

Zone code

M1

Property type

Warehouses

Property subtype

Self storage facilities

APN

6332307015

APU

6332307015

Description

This exceptional investment opportunity presents a 12,400 square foot, single-story industrial building located at 2838 N Prospect St, Colorado Springs, CO 80907. The property, situated on a 0.54-acre lot and zoned M1, features three separate tenant suites in a modified net lease structure. Built in 1973 and extensively renovated in 2023, the building boasts a new roof, updated heating units in each suite, a new gas line, and fresh flooring and paint in suites C & D. The property also includes a newly paved and restriped parking lot and new monument signage. The building offers 12-foot ceilings and three loading docks. With a total asking price of $1,510,599, a net operating income (NOI) of $105,718, and a compelling 7.00% cap rate, this multi-tenant industrial property presents a strong return on investment. The price per square foot is $121.82. This rare small bay multi-tenant investment opportunity is ideal for investors seeking a well-maintained, income-producing asset in a desirable Colorado Springs location.

• Alternative Use

  Use

  Valuation

  Residential

  $3,184,662

  Hospitality

  $2,917,134

  Educational

  $2,427,021

  Medical

  $2,510,490

  Retail

  $3,775,366

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8716

Longitude

-104.812

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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