Vacant-User

1785 North Academy Boulevard

1785 N Academy Blvd, Colorado Springs, CO 80909

Listing Price: $2,300,000

Cap Rate
3.47%
Gross SF
24,000
Price/Gross SF
$95.83
Lot Size
1.89 acres
Year Built
1973
Rentable SF
20,400

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of 1785 North Academy Boulevard, which consists of a 24,000 square foot flex warehouse, situated on 1.89 acres of land. This Class B property was built in 1973 from reinforced concrete, twin-t clearspan construction and has friendly PBC zoning. Renovations were made to the property in recent years that consists of: 55% new roof in 2018, 80% of floor space updated between 2014-2019, LED lights, various door and window replacements, ADA bathrooms, 10,000 amp transformer with 4200 amps, 3-phase capabilities, landscaping, and more. The property is already licensed and permitted for cannabis use and is currently 18.54% occupied to two cannabis-related tenants who operate on NNN leases with an average base rent of $14.20/sf. Potential uses of the property in the cannabis realm include: MMJ grow, cultivation, and non-hazardous infused products. Other potential capabilities include: consumer goods, cold storage, and light manufacturing. There are a total of 66 paved parking spaces in he parking lot due east of the property. 1785 North Academy Boulevard is conveniently located in north/eastern Colorado Springs, right off the heavily trafficked North Academy Boulevard and in between Interstate-25 and Powers Boulevard.

Investment Highlights

  • 55% New Roof in 2018
  • ADA Compliant
  • 4200 Amps, 3-Phase
  • 80% New Flooring Between 2014 - 2019
  • 66 Paved Parking Spaces
  • Custom Renovations for Cannabis / Owner-Users
  • Licensed & Permitted for Cannabis Use
  • Reinforced Concrete, Twin-T Clear span Construction

Exclusively Listed By

Listing Price: $2,300,000

Cap Rate
3.47%
Gross SF
24,000
Price/Gross SF
$95.83
Lot Size
1.89 acres
Year Built
1973
Rentable SF
20,400

Investment Highlights

  • 55% New Roof in 2018
  • ADA Compliant
  • 4200 Amps, 3-Phase
  • 80% New Flooring Between 2014 - 2019
  • 66 Paved Parking Spaces
  • Custom Renovations for Cannabis / Owner-Users
  • Licensed & Permitted for Cannabis Use
  • Reinforced Concrete, Twin-T Clear span Construction

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of 1785 North Academy Boulevard, which consists of a 24,000 square foot flex warehouse, situated on 1.89 acres of land. This Class B property was built in 1973 from reinforced concrete, twin-t clearspan construction and has friendly PBC zoning. Renovations were made to the property in recent years that consists of: 55% new roof in 2018, 80% of floor space updated between 2014-2019, LED lights, various door and window replacements, ADA bathrooms, 10,000 amp transformer with 4200 amps, 3-phase capabilities, landscaping, and more. The property is already licensed and permitted for cannabis use and is currently 18.54% occupied to two cannabis-related tenants who operate on NNN leases with an average base rent of $14.20/sf. Potential uses of the property in the cannabis realm include: MMJ grow, cultivation, and non-hazardous infused products. Other potential capabilities include: consumer goods, cold storage, and light manufacturing. There are a total of 66 paved parking spaces in he parking lot due east of the property. 1785 North Academy Boulevard is conveniently located in north/eastern Colorado Springs, right off the heavily trafficked North Academy Boulevard and in between Interstate-25 and Powers Boulevard.

Exclusively Listed By

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