3101-3275 W Colorado Ave - Freestanding FOR SALE


Colorado Springs, CO 80904
$12,474,000 USD
949-547-2213
3101-3275 W Colorado Ave, Colorado Springs, CO for Sale
$12,474,000 USD
Freestanding - FOR SALE
1/8
null | 7% Cap Rate

3101-3275 W Colorado Ave
Colorado Springs, CO 80904


HIGHLIGHTS

  • Planet Fitness Anchored Center | Options To Extend | Strong Tenant Line Up | Shadow Anchored by Safeway
  • NNN Leases | Upside Potential Through Lease-Up | Commitment to Site
  • Signalized Corner | Across the Street from Starbucks | Adjacent to Safeway | Popular Retail & Fast Food Corridor
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) of Red Rock Canyon Shopping Center a ± 62,924 SF. Planet Fitness anchored neighborhood shopping center (consisting of three buildings) located in Colorado Springs, CO (El Paso and Teller County, MSA). Built in 1965 and renovated in 2021, The Red Rock Canyon Shopping Center sits on approximately 5.8 acres and encompasses ± 62,934 SF of quality retail space with a healthy mix of e-commerce resistant tenants. Anchored by Planet Fitness who just signed a new 12-year NNN lease, the tenant roster boasts other notable daily-needs tenants such as SuperCuts, Guiry’s, Red Rock Veterinary, Red Rock Liquors, and Dental Nook at Red Rock Canyon. In addition, all but one tenant are operating on NNN leases, reimbursing their pro-rata share of expenses, limiting expense leakage for a future investor. The center is 88% occupied, offering potential upside through lease-up for a future investor. The property boasts a strong commitment to site as several tenants have enjoyed the unique benefits of the center’s ideal location and strong commerce over the last 3 decades.

FOR SALE DETAILS

PRICE

$12,474,000 USD

PRICE/SF

$338 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Rock Canyon Ctr | Planet Fitness Anchor

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Storefront, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

264

LAND DETAILS

LAND ACRES

5.8 AC

LAND SF

252,648 SF

ZONING

C-5

APN/PARCEL ID

74034-22-002,74034-22-021,74034-22-023,74101-07-024

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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