721 Tejon StColorado Springs, CO 80903

  • Office properties
  • 5,304 SF
For Sale
$1,050,000 View listing

Property Details for 721 Tejon St

Year built
1982
Construction
WOOD FRAME
Lot size
0.29 AC
Property size (Sq ft)
5,304 SF
Zone code
FBZ-T2A
Property type
Office properties
Property subtype
Office buildings
APN
6407306013
APU
6407306013

Description

This exceptional executive office building, located at 721 N Tejon St in Colorado Springs, CO 80903, presents a compelling investment opportunity. The property boasts a total of 8,052 square feet across three levels: a main level of 2,757 square feet, an upper level of 2,642 square feet, and a garden level of 2,653 square feet. Built in 1982, this Class C building sits on a 0.29-acre lot (12,721 square feet) and is zoned FBZ-T2A. The net rentable area is 5,304 square feet, with an asking price of $1,050,000, resulting in a price per square foot of $130.40. The property's assessed value is reflected in the estimated 2024 property taxes of $12,494.71. The property features one building with two stories and is identified by APN 64073-06-013. This presents a unique chance to acquire a well-situated office building in a thriving Colorado Springs location. The property's size and layout offer flexibility for various business needs. Serious inquiries are encouraged.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,160,166
    6.5%
    $1,070,923
    7%
    $994,428
  • Comparable approach

    Method
    Valuation
    Relative Method
    $438,216
    Geo Method
    $438,216
  • Alternative Use

    Use
    Valuation
    Residential
    $1,327,944
    Hospitality
    $1,216,390
    Educational
    $1,012,022
    Medical
    $1,046,827
    Retail
    $1,574,256
721 Tejon St, Colorado Springs, Colorado

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8446
Longitude
-104.822
CBSA code
17820
CBSA name
COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,495
$53,950
$163,400
$217,350
-
$193,359
$585,671
$779,030

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