702 Tejon StColorado Springs, CO 80903

Property Details for 702 Tejon St

Year built

1941

Construction

WOOD FRAME

Lot size

0.12 AC

Property size (Sq ft)

3,722 SF

Zone code

FBZ-T2A

Property type

Medical offices

Property subtype

Medical centers

APN

6407305022

APU

6407305022

Description

This exceptional investment opportunity presents three buildings totaling 8,633 net rentable square feet situated on a 14,991 square foot lot at the highly desirable Northwest corner of North Tejon and East Monument Streets in Colorado Springs, Colorado. The property, comprised of three parcels (APN: 6407305022, 6407305021, 6407305020), consists of six fully occupied medical office units across two stories. Built in 1941 and 1960, these well-maintained buildings boast a 100% occupancy rate, generating a strong cash flow. The asking price is $1,795,000, translating to $207.92 per square foot. Conveniently located one block from the Ed Robson Arena, this prime location offers exceptional visibility and accessibility, benefiting from proximity to the vibrant North Tejon Corridor's diverse restaurants, shopping, and amenities. Easy access is also provided via the Bijou and Uintah exits. The property is zoned FBZ-T2A. This is a rare chance to acquire a stable, high-performing medical office portfolio in a thriving downtown area. The buildings offer a unique blend of history and modern functionality, making this an ideal investment for discerning buyers seeking a strong return on investment in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $814,129

  6.5%

  $751,503

  7%

  $697,825

• Comparable approach

  Method

  Valuation

  Relative Method

  $307,512

  Geo Method

  $307,512

• Alternative Use

  Use

  Valuation

  Residential

  $931,864

  Hospitality

  $853,583

  Educational

  $710,171

  Medical

  $734,595

  Retail

  $1,104,710

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.844

Longitude

-104.823

CBSA code

17820

CBSA name

COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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