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6121 N Academy Boulevard - World of Tile, Colorado Springs, CO

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6121 N Academy Boulevard - World of Tile

Colorado Springs, CO 80918-5436 - Northeast Ret Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1979
Building Size:18,080 SF Land Area:.89 AC (38,803 SF)
For Sale Price:$2,550,000 Price/SF:$141.04
Cap Rate:7.00 %
Parking:Free Surface spaces are available; Ratio of 6.44/1,000 SF
Features:Bus Line, Signalized Intersection

The space is conveniently located at the northwest intersection of Academy Blvd. and Lehman Streets. The C5 zoning allows for a number of uses for this space.

Easily accessible from I-25 and on the main thoroughfare of Academy Blvd. This location provides a user with easy parking lot and building access.

Sale Notes:
This property is an 18,000 square-foot, fully occupied two-tenant prop-erty located in the desirable commercial area of northern Academy Bou-levard. The property was constructed in 1979 and was recently renovated in 2015. The renovation included a new EPDM roof, stucco and glass fac-sia, upgraded electrical systems and parking lot. A World of Tile has been a long-term tenant at this location since 1998. A World of Tile recently extended their lease term through November 2021 and thereafter enjoys one five year renewal option through November 2026.

The property sits on a signaled intersection with 200 feet of frontage along Academy Boulevard, and daily traffic volume exceeding 47,000 cars. This two-tenant retail/flex-space property is located in a desirable retail location in Colorado Springs, with a population of over 230,000 people within a five mile radius and average household income of $78,593 within a three mile radius. The property is positioned on a hillside, with the lower level above grade (dock height). A World of Tile occupies the entire upper level and One Source Cabinets occupies the lower level unit.

Marcus & Millichap Inc
Drew Isaac
(303) 328-2048

Cory Gross
(303) 328-2019

Madison Schaffner
(303) 328-2037

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