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 | Request 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
  • Value-Add Medical Office 68% Occupied on Long-Term, Landlord Friendly NNN Lease with Intellitec Medical College.
  • New Roof Installed in 2017
  • Vacant Units Turn-Key as former Dental and Physical Therapy Offices

OVERVIEW

Value-Add Medical Office Investment – With Long-Term NNN Tenancy This 22,165 RBA, three-story medical office building presents a compelling value-add opportunity, currently 68% occupied with a stable, long-term NNN lease in place with IntelliTec Medical College. The property is offered well below replacement cost at just $128/SF and includes covered parking for tenant and patient convenience. Vacant suites are in turnkey condition, formerly built out for dental and physical therapy uses—ideal for owner-users or new tenants seeking immediate occupancy. Market & Location Highlights: New roof installed in 2017 Strategically located near Downtown Colorado Springs, just south of the U.S. Olympic & Paralympic Training Center 279,666 residents within a 5-mile radius with an average household income of $73,029 Colorado Springs is one of the fastest-growing cities in the U.S., with approximately 48% population growth to date and an additional 7% projected over the next five years El Paso County is expected to surpass the Denver Metro population by 2050 Recognized Nationally: #1 Most Desirable Place to Live – U.S. News & World Report (2022–2023) #1 Best Place to Travel Globally – Forbes Advisor (2023) Among the top U.S. cities for millennial population growth – Brookings Institute This asset combines stable cash flow, upside potential, and a location in one of the nation's most dynamic growth markets.

FOR SALE DETAILS

PRICE

$2,848,000 USD

PRICE/SF

$128 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

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

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Cory GrossMarcus & MillichapMore Info
303-328-2019

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