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Off Market
1/9

747-795 E Citadel Dr
Colorado Springs, CO 80909


HIGHLIGHTS

  • Barnes & Nobles has operated at the property since 1995
  • Adjacent to Citadel Mall - Anchored by Burlington, Dillards and JC Penny
  • Tenant recently added 3 additional years to the term
  • Ownership recently invested $77K for a new rook (2011) and $110K for a new rooftop HVAC system (2014)
  • 552,520 Residents in surrounding Colorado Springs Trade Area
  • Excellent visibility - Positioned along Academy Boulevard (46,200+ cars a day)

OVERVIEW

The Colorado Springs metro contains a population of approximately 692,900 people. Colorado Springs is the largest city, with around 443,100 residents, followed by Security-Widefield and Fountain. The population in the metro is expected to grow by 51,600 residents over the next five years. The U.S. military plays a vital role in the local economy, supported by the Air Force Academy, Fort Carson and NORAD. Colorado Springs has also used the economic stimulus provided by the military to build a host of other economic engines. Business sectors that local officials hope to grow through incentives include aerospace, defense and homeland security, renewable energy and energy efficiency, software and information technology. Sports health and wellness is another segment the city would like to expand, as Colorado Springs is the home of the U.S. Olympic Training Center and headquarters of the U.S. Olympic Committee. The Olympic facilities help draw tourists who also come to enjoy Pikes Peak, Garden of the Gods, and hiking and camping in the mountains nearby. Economic growth in Colorado Springs is expected to surpass the national level for the second consecutive year, rising 5.3 percent in 2016, up from 4.2 percent growth last year. Retail sales are forecast to expand by 6.5 percent this year, above the national growth rate of 5.4 percent. Robust hiring at firms such as Raytheon and demand for construction workers at the many redevelopment projects in downtown Colorado Springs will contribute to boosting the local economy.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Barnes & Noble

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

26825

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

124

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

-

APN/PARCEL ID

64104-07-013