424 W Kiowa Street
1,579 SF | 100% Leased | Retail Building | Colorado Springs, CO 80905 | $752,900 ($477/SF) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $752,900
- Property Type
-
Retail
- Square Feet
- 1,579 SF
- Price / Square Foot
- $477
Listing Contacts
Holly Trinidad
Verified Profile
Timothy Leigh
Verified Profile
- Property Info
Property Overview
Investment Type: NNN Investment Sale. Cap Rate 7.5% Cap Rate, NOI: $56,400.00, Price: $752,900. Lease Term: 5 Years. Type: NNN. Business: Adult Day Care (M.A.T.A). Building Square Feet: (Two Buildings @ 1,794 RSF & 1,240 RSF). Lot Size: 3,034 SF. Price Per Square Foot: $248.00. IMPORTANT DETAILS: Newly overhauled investment sale with a brand new, 5-year lease. Built in 1891, renovated in 2024, this freestanding building is now operated as an adult day care. The property has been totally overhauled to include a change of use with the city of Colorado Springs. Located on the Westside of Colorado Springs (which is the best side)! The tenant has excellent financials and credit! ABOUT THE WESTSIDE OF COLORADO SPRINGS: Considered one of the gateways into the Colorado mountains and less than 3 miles west of downtown Colorado Springs, Westside is more of an outdoorsy community with mature homes than a city suburb. And those who call this part of town home proudly refer to themselves as Westsiders. “Homes here have a unique character, and there’s a diverse population in comparison to the rest of Colorado Springs, the vibe and walkability mirroring what you’d find in Old Colorado City,” says Susanna Haynie, a local and Broker at Co-Regroup with 12 years of experience in the area. Peak hours can bring traffic as Interstate 25 runs along the eastern edge, but the community maintains its laid-back and adventurous nature.
Property Details
- Class
- B
- Year Built/Renovated
- 1891/2024
- Stories
- 2
- Property Subtype
- Day Care Facility/Nursery
- Lot Size (sq. ft)
- 6,098 SF
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