1031 Tejon StColorado Springs, CO 80903

Property Details for 1031 Tejon St

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

571 SF

Zone code

FBZ-T1

Property type

Office buildings

APN

6419219016

APU

6419219016

Description

This exceptional 571-square-foot creative office space, located at 1031 S Tejon Street in Colorado Springs, Colorado, is offered at $425,000. The property, built in 1948, is a Class C building situated on a 3,575-square-foot lot and benefits from a highly visible corner location. Its convenient proximity to I-25 (less than 0.3 miles) and downtown Colorado Springs makes it an attractive investment opportunity. The property includes four off-street parking spaces and a fully fenced backyard area, providing ample space and security. The building is currently vacant, offering immediate occupancy for a new owner. The lease type is NNN. The zoning is FBZ-T1. In addition to the main 571 square feet, there is also 250 square feet of basement storage space available. The asking price per square foot is $744.31. This freestanding building presents a unique chance to acquire a well-located, versatile commercial property in a thriving Colorado Springs neighborhood. The zip code is 80903. El Paso County is the county location.

• CAP approach

  CAP return

  Valuation

  6%

  $124,897

  6.5%

  $115,290

  7%

  $107,055

• Comparable approach

  Method

  Valuation

  Relative Method

  $47,176

  Geo Method

  $47,176

• Alternative Use

  Use

  Valuation

  Residential

  $142,959

  Hospitality

  $130,950

  Educational

  $108,949

  Medical

  $112,696

  Retail

  $169,476

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8186

Longitude

-104.824

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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