206 Tejon StColorado Springs, CO 80903

Property Details for 206 Tejon St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

3,750 SF

Zone code

FBZ-T1

Property type

Retail properties

Property subtype

Retail space

APN

6418207013

APU

6418207013

Description

This exceptional restaurant space, located in downtown El Paso County, offers a unique opportunity for a discerning restaurateur. The property boasts a generous 3,750 square feet of space, perfectly suited for a variety of culinary concepts. The layout features a main floor of 3,750 square feet with dimensions of 25 feet wide by 150 feet long, providing ample room for dining, kitchen operations, and bar areas. A full basement is also included, offering additional storage or expansion potential. The high ceilings, measuring 14 feet, create a spacious and inviting atmosphere. The property was built in 1900, offering a blend of historical charm and modern functionality. A significant advantage is the convenient access to ample parking, with a 305-spot city parking garage located directly behind the property on Cascade Avenue, ensuring ease of access for patrons and staff. The lease rate is $38.00 per square foot, plus expenses. This prime location in the heart of downtown El Paso presents an unparalleled opportunity to establish or relocate a thriving restaurant business. The property's size, location, and parking make it an ideal investment for those seeking a high-traffic, easily accessible establishment. This is a rare chance to secure a well-positioned restaurant space in a vibrant and growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,205,772

  6.5%

  $1,113,021

  7%

  $1,033,519

• Comparable approach

  Method

  Valuation

  Relative Method

  $780,759

  Geo Method

  $780,759

• Alternative Use

  Use

  Valuation

  Residential

  $938,874

  Hospitality

  $860,004

  Educational

  $715,513

  Medical

  $740,121

  Retail

  $1,113,021

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.837

Longitude

-104.824

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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