18 1/2 Swope Ave - Industrial FOR SALE


Colorado Springs, CO 80909- Memorial Park
$450,000 USD
719-460-3324
18 1/2 Swope Ave, Colorado Springs, CO for Sale
$450,000 USD
Industrial - FOR SALE
1/34
null | 6.35% Cap Rate

NEW


18 1/2 Swope Ave
Colorado Springs, CO 80909
Memorial Park


HIGHLIGHTS

  • Dual-use property for extra income
  • Versatile workshop/garage with roll-up doors
  • Great alley access

OVERVIEW

Two properties on one lot: An approximately 1,600 sf garage/workshop perfect for multiple types of small businesses, and a 2-bed 1-bath home that would make a good residential rental. Zoned Mixed Use. Also an excellent opportunity to live and work at the same address. Garage/workshop was last used as a tool-sharpening shop by the owner for many years, last in use through mid-2024. Could also be used as a warehouse or distribution center, with easy access for trucks/vans. Garage/workshop with two roll-up doors and lots of versatility. Property includes storage shed and driveway the length of the lot for easy access to the rear alley and the workshop. Workshop includes an entry foyer, large work area, half-bath on main level and an upstairs that includes two rooms, a kitchenette space and a full bath with tub/shower. Extra parking space between the workshop and alley. Main home has new carpet, fresh interior paint and new toilet, along with a concrete patio. Nice split-rail fenced front yard, and new fencing along sides of property. One water meter for the entire property, but workshop and home have separate electrical meters, and home has gas. Great location near Platte and Union just east of downtown. All rents mentioned are approximate, with estimated $12 / sf for the shop, and estimated $1,200 / month for the home as a long-term rental, leading to an estimated cap rate of about 6.5 percent. Taxes for 2025: $1,340. Insurance for 2025: $1,594. One water meter for the entire property, averaging about $150 / month. Home has been a rental for many years well below market. MLS tax records show zoning as C-6, but county assessor's records show it as Mixed Use. Assessor's Office square footage for the home is inaccurate, and agent-measured exterior was 742 sf. The workshop is either 1,440 sf or 1,660 sf depending on whether you look at the MLS tax records or the county assessor's website. Buyers should satisfy themselves of the actual square footage. The workshop includes an upper level that has a full bath and is equipped for a kitchenette. Workshop and home both sold as-is.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$187 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

ADD'L SUBTYPES

Warehouse, Service, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18

LAND SF

8,000

ZONING

MX-L

APN/PARCEL ID

64162-20-028

ASK ABOUT THIS PROPERTY

Brian SinkThe Platinum GroupMore Info
719-460-3324

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Brian SinkThe Platinum GroupMore Info
719-460-3324

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