721 Tejon StColorado Springs, CO 80903

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 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.

• 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

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

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