18 S Nevada Ave - Retail FOR SALE


Colorado Springs, CO 80903- Downtown Colorado Springs
$4,086,000 USD
719-644-8900
18 S Nevada Ave, Colorado Springs, CO for Sale
$4,086,000 USD
Retail - FOR SALE
1/20
null | Request Cap Rate

18 S Nevada Ave
Colorado Springs, CO 80903
Downtown Colorado Springs


HIGHLIGHTS

  • A true Art Deco landmark: timeless architecture that cannot be replicated, creating instant identity and presence in the market.
  • Expansive layouts across multiple levels allow for seamless adaptive reuse - from hospitality and office to a vertically integrated lifestyle concept.
  • Located at the center of Colorado Springs’ urban core, surrounded by walkability, growth, and momentum.

OVERVIEW

The Golden Opportunity The Gold Room is a ±33,000 SF historic commercial landmark located in the heart of Downtown Colorado Springs. Ownership is offering a highly flexible acquisition structure designed to accommodate a wide range of investment strategies. Whether acquiring the entire property, the turnkey East Building, or the value-add West Building, buyers have the opportunity to invest in one of downtown’s most recognizable assets. Three Acquisition Opportunities Option 1 | Entire Building ±33,000 SF | Offered at $6,900,000 Acquire the entire landmark and control one of Downtown Colorado Springs’ most iconic mixed-use opportunities. The property includes significant completed renovations, a recently completed speakeasy, rooftop entertainment space, commercial kitchen infrastructure, and approximately half of the building available for future redevelopment or expansion. Ownership is also open to executing a long-term lease for the existing built-out space, providing flexibility for investors seeking immediate income potential while preserving future redevelopment opportunities. ? Option 2 | East Building – Turnkey Hospitality Opportunity Approx. 18,000 SF | $227/SF | Offered at $4,086,000 The East Building contains the property’s completed hospitality and entertainment components, including: * Iconic Gold Room & mezzanine * Recently completed speakeasy * Commercial kitchen infrastructure * Rooftop entertainment area * Alley entrance activation * Outdoor seating opportunities (subject to City approvals and revocable permits) * Multi-million-dollar completed renovations * Potential transfer of existing liquor license, including expansion into the basement (subject to regulatory approval) This offering presents immediate operational potential with a significantly reduced timeline to opening. ? Option 3 | West Building – Value-Add Redevelopment Opportunity Approx. 15,000 SF | $155/SF | Offered at $2,325,000 The West Building offers an attractive lower basis while preserving exceptional redevelopment flexibility. Highlights include: * Direct adjacency to AdAmAn Alley * Walkability to both Tejon Street and Nevada Avenue * Surrounded by established restaurants, retail, and entertainment venues * Historic character with flexible floor plates * Well suited for hospitality, entertainment, creative office, wellness, or mixed-use concepts For visionary operators and developers, the West Building provides an opportunity to create a destination while benefiting from the continued momentum of Downtown Colorado Springs. ? Flexible Acquisition Structure Ownership is committed to working with qualified buyers to create a transaction structure that aligns with their investment objectives. Seller Financing Ownership is willing to carry the balance above existing debt payoff and transaction costs, creating a flexible acquisition structure for qualified purchasers. Transaction Framework * Offering Price (Entire Building): $6,900,000 * Existing Debt Payoff: Approximately $4,700,000 * Broker Compensation: 5% of the purchase price * Seller Carry: Balance above debt payoff and transaction costs General Seller Financing Terms * Interest Rate: Approximately 6% * Term: Negotiable (5–10 years) * Down Payment: Negotiable * Prepayment: No penalty Offer Considerations Ownership will consider: * All-cash offers * Conventional financing * Structured acquisitions utilizing seller financing * Acquisition of the entire building or either condominium opportunity, subject to completion of the condominium process Seller financing is intended to provide buyers with additional flexibility in capital structure while supporting long-term ownership objectives. ? One Landmark. Three Acquisition Opportunities. Whether your vision is to own the entire landmark, launch an immediately operational hospitality venue, or create a one-of-a-kind redevelopment project, The Gold Room now offers acquisition flexibility rarely available for an asset of this scale and prominence in Downtown Colorado Springs.

FOR SALE DETAILS

PRICE

$4,086,000 USD

PRICE/SF

$124 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Gold Room

PROPERTY TYPE

Retail

ADD'L SUBTYPES

undefined, Bar, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

SPRINKLERS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

C6

APN/PARCEL ID

64182-16-030

ASK ABOUT THIS PROPERTY

Bryan RodriguezReal Broker LLCMore Info
719-644-8900

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

Bryan RodriguezReal Broker LLCMore Info
719-644-8900

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