402 Tejon StColorado Springs, CO 80903

Property Details for 402 Tejon St

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.09 AC

Property size (Sq ft)

21,301 SF

Zone code

FBZ-T2A

Property type

Retail properties

Property subtype

Banks

APN

6407319011

APU

6407319011

Description

This exceptional 5,050 square foot retail space, located at 402 S. Tejon Street in Colorado Springs, Colorado, presents a unique investment opportunity. Situated within an eight-story, dual-branded Marriott hotel, this property offers unparalleled visibility and access to a substantial customer base. The entire space is currently vacant, providing a blank canvas for a discerning tenant. The building boasts a total of 216 parking spaces, ensuring ample convenience for patrons. The property's classification as "Restaurant/Hotel" within the retail sector suggests a high potential for businesses catering to hotel guests and the surrounding community. Located in El Paso County, with a zip code of 80903, this property benefits from a prime location in Colorado Springs. The substantial square footage allows for a variety of uses, from a large-scale restaurant to a multi-faceted retail operation. The existing infrastructure within the Marriott hotel complex offers significant advantages, including established utilities and potentially shared services. This is a rare chance to secure a significant retail presence in a high-traffic area, directly connected to a well-known and reputable hotel brand. The property's size and location make it ideal for a variety of businesses seeking a prominent and accessible location in a thriving Colorado Springs market. This is a turnkey opportunity for a business looking to establish a strong foothold in a desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $6,849,108

  6.5%

  $6,322,254

  7%

  $5,870,664

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,434,920

  Geo Method

  $4,434,920

• Alternative Use

  Use

  Valuation

  Residential

  $5,333,058

  Hospitality

  $4,885,052

  Educational

  $4,064,306

  Medical

  $4,204,084

  Retail

  $6,322,254

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.84

Longitude

-104.824

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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