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

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%

  $5,388,390

  6.5%

  $4,973,900

  7%

  $4,618,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,830,280

  Geo Method

  $1,830,280

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,763,310

  Mixed-Use / Specialty

  $4,930,410

  Hospitality / Lodging

  $3,583,760

  Office

  $4,874,300

  Institutional / Educational

  $5,116,440

  Residential Income

  $5,986,230

  Multifamily

  $7,322,330

  Automotive / Energy

  $4,385,520

  Parking / Income-Based Land

  $1,538,830

  Restaurant / Food Service

  $2,509,390

  Healthcare / Senior Housing

  $5,082,460

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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