10 Sierra Madre StColorado Springs, CO 80903

Property Details for 10 Sierra Madre St

Year built

1906

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

2,208 SF

Zone code

FBZ-CEN

Property type

Retail properties

Property subtype

Turn key restaurants

APN

6418212003

APU

6418212003

Description

Old Depot Square, located at 10-76 S Sierra Madre St in Colorado Springs, CO 80903, presents a unique retail and restaurant investment opportunity. This 18,223 square foot freestanding building, originally constructed in 1969 and extensively renovated in 2018, boasts a prime downtown location with exceptional visibility. Currently, 5,354 square feet of space is available for lease, ideal for a variety of uses within the FBZ-CEN zoning designation. The property's historic charm is complemented by modern amenities, including ample parking with 85 spaces, ensuring convenient access for customers and employees. Its central downtown location places it within easy walking distance of numerous attractions, maximizing foot traffic and exposure. The building's multiple tenancy structure offers flexibility for various business models. This is a rare chance to acquire a well-maintained, historically significant property in a thriving Colorado Springs market. The property's combination of character, convenience, and ample space makes it an attractive proposition for discerning investors and businesses seeking a high-profile location. The available space presents a significant opportunity for expansion or a new venture in a vibrant and growing urban core.

• CAP approach

  CAP return

  Valuation

  6%

  $709,959

  6.5%

  $655,346

  7%

  $608,536

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,711

  Geo Method

  $459,711

• Alternative Use

  Use

  Valuation

  Residential

  $552,809

  Hospitality

  $506,370

  Educational

  $421,294

  Medical

  $435,783

  Retail

  $655,346

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8351

Longitude

-104.828

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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