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Mixed-Use

1785 N Academy Blvd Plus Two Adjacent Vacant Lots

1785 N Academy Blvd, Colorado Springs, CO 80909

Listing Price: $2,375,000

Cap Rate
1.00%
Gross SF
24,000
Rentable SF
20,800
Price/Gross SF
$98.96
Lot Size
3.19 acres
Year Built
1973

Investment Overview

1785 North Academy Boulevard is in northeast/north central Colorado Springs at the intersection of two major regional arterial roads, Academy Boulevard & Constitution Avenue, that has a traffic count of roughly 40,000 VPD. The property and land are located in the heart of the city, within a 15 minute radius of I-25, downtown, and the Colorado Springs Airport. Built in 1972 by the VA for dental offices, this is heavy concrete construction with 8” thick concrete tilt up walls, concrete post and beam walls, and twin T concrete roof beams. Clear height of roof is 10’ - 12’. This is a very solid foundation, which is being sold below replacement costs and is very cost-prohibitive to build. The ?oor plan is divided into four quadrants of 5,200 square feet each. The entire interior is free-span and column-free, and all of the interior walls are partition walls. This means a buyer has plenty of versatility for use because every single wall in the interior can be removed and the entire structure would be open with no columns. This is not a typical warehouse - this property offers much more versatility and potential uses than a typical warehouse. New uses could expand upon the existing uses, which could include: light manufacturing, warehouse storage, consumer goods, electronics, makers space, office space, etc. Property could also be ideal for conversion to condo warehouses, an urban marketplace, food court, or micro brewery. The building has ADA access and restrooms and could also be converted into a senior living center.

Investment Highlights

  • 24,000 Square Foot Flex Property on 1.89 Acres
  • Concrete Tilt Up, Twin-T Clear Span Construction
  • Additional 1.3 Acres on 2 Adjacent Lots
  • 10,000 Amp Transformer With 4200 amps, 3-Phase Capabilities
  • 55% New Roof in 2018 & 80% New Flooring
  • Friendly PBC Zoning Allows For Versatile Uses of Property and Development of Neighboring Lots
  • Located off Heavily Trafficked Intersection of North Academy Boulevard & Constitution Avenue
  • Adaptive Re-Use Project in Place for Neighboring Rustic Hills North Center

Exclusively Listed By

Mixed-Use

1785 N Academy Blvd Plus Two Adjacent Vacant Lots

Listing Price: $2,375,000

Cap Rate
1.00%
Gross SF
24,000
Rentable SF
20,800
Price/Gross SF
$98.96
Lot Size
3.19 acres
Year Built
1973

Investment Highlights

  • 24,000 Square Foot Flex Property on 1.89 Acres
  • Concrete Tilt Up, Twin-T Clear Span Construction
  • Additional 1.3 Acres on 2 Adjacent Lots
  • 10,000 Amp Transformer With 4200 amps, 3-Phase Capabilities
  • 55% New Roof in 2018 & 80% New Flooring
  • Friendly PBC Zoning Allows For Versatile Uses of Property and Development of Neighboring Lots
  • Located off Heavily Trafficked Intersection of North Academy Boulevard & Constitution Avenue
  • Adaptive Re-Use Project in Place for Neighboring Rustic Hills North Center

Investment Overview

1785 North Academy Boulevard is in northeast/north central Colorado Springs at the intersection of two major regional arterial roads, Academy Boulevard & Constitution Avenue, that has a traffic count of roughly 40,000 VPD. The property and land are located in the heart of the city, within a 15 minute radius of I-25, downtown, and the Colorado Springs Airport. Built in 1972 by the VA for dental offices, this is heavy concrete construction with 8” thick concrete tilt up walls, concrete post and beam walls, and twin T concrete roof beams. Clear height of roof is 10’ - 12’. This is a very solid foundation, which is being sold below replacement costs and is very cost-prohibitive to build. The ?oor plan is divided into four quadrants of 5,200 square feet each. The entire interior is free-span and column-free, and all of the interior walls are partition walls. This means a buyer has plenty of versatility for use because every single wall in the interior can be removed and the entire structure would be open with no columns. This is not a typical warehouse - this property offers much more versatility and potential uses than a typical warehouse. New uses could expand upon the existing uses, which could include: light manufacturing, warehouse storage, consumer goods, electronics, makers space, office space, etc. Property could also be ideal for conversion to condo warehouses, an urban marketplace, food court, or micro brewery. The building has ADA access and restrooms and could also be converted into a senior living center.

Exclusively Listed By

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