2504 E Pikes Peak Ave - Medical FOR SALE


Colorado Springs, CO 80909- Park Hill
$2,848,000 USD
303-328-2019
2504 E Pikes Peak Ave, Colorado Springs, CO for Sale
$2,848,000 USD
Medical - FOR SALE
1/21
null | 7.5% Cap Rate

2504 E Pikes Peak Ave
Colorado Springs, CO 80909
Park Hill


HIGHLIGHTS

  • Massive Capital Improvement Projects Ongoing and in the Pipeline throughout the MSA - Olympic Museum, Downtown Stadium, 3.5 Million square-foot Amazon

OVERVIEW

Value-Add Medical Office 80% Occupied on Long-term, Landlord Friendly NNN Leases with IntelliTec Medical College and LSC Transportation Consultants. Three-Story Medical Office with Covered Parking Well Below Replacement Cost at $128/SF. Vacant Units Turn-Key as former Dental and Physical Therapy Offices. MSA Population Of 762,695, Just 60 Miles South of Denver, Top City in the Country for Millennial Population Growth (Brookings). #1 Most Desirable Places to Live (Us News & World Report, 2022-2023) and #1 Named One of Best Places to Travel Globally in 2023 (Forbes Advisor, 2023). Located in Close Proximity to Downtown Colorado Springs just South of the Olympic & Paralympic Training Center. 279,666 Residents Living within 5-Mile Radius with an Average HH Income of $73,029. Colorado Springs has Grown by Approximately 48% and is Projected to Grow Another 7% in the Next Five Years. By 2050, the Population of El Paso County is Expected to Exceed the Population of the Denver Metro Area.

FOR SALE DETAILS

PRICE

$2,848,000 USD

PRICE/SF

$128 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Industrial Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

133

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

OC

APN/PARCEL ID

64161-17-034

ASK ABOUT THIS PROPERTY

Cory GrossMarcus & MillichapMore Info
303-328-2019

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Cory GrossMarcus & MillichapMore Info
303-328-2019

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.