Listed by Marcus & Millichap - Denver
$3,204,000
777 Conrad St
Details
Property Type Industrial
Sub Type Flex, Warehouse
Square Footage 3,600
Cap Rate 6.75%
NOI $216,300
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 5
Lease Expiration 12/31/2030
Remaining Term 4.5
Rent Bumps Yes
Lease Options One, 5-Year
Year Built 1998
Year Renovated 2026
Buildings 2
Acreage 3.610
Zoning Limited Industrial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2026
Ground Lease No
Dock High Doors 1
3.61- Acre Prime IOS Site | Net-Leased CDL Training Facility
Marketing description
Gross Retail Group is pleased to present for sale the fee-simple interest in a net-leased Industrial Outdoor Storage (IOS) / CDL training facility located at 777 Conrad Street, Colorado Springs, Colorado 80915. Positioned at the nexus of North Powers Boulevard and Highway 24, Colorado Springs' busiest retail and commercial corridor, this site offers exceptional visibility, accessibility, and scarcity value. The property is 100% occupied by The CDL Schools LLC, a national CDL training operator, under a fully executed five-year lease with a five-year renewal option.
Investment highlights
- Prime Infill Location: 777 Conrad Street sits within the North Powers corridor, widely recognized as Colorado Springs' busiest and highest-volume retail and commercial artery. This infill location commands outsized visbility and trade area capture, and is exceptionally difficult to replicate given land constraints along the corridor.
- Signalized Intersection Access- Powers Blvd & Highway 24: The site benefits from immediate proximity to the intersection of North Powers Blvd and U.S. Highway 24, one of the most trafficked interchanges in El Paso County. Easy ingress-egress freeway-level exposure makes this an operationally superior location for fleet-oriented tenants requiring large-format outdoor space.
- Rare Low-Coverage IOS SIte in High-Density Infill Area: Industrial Outdoor Storage (IOS) sites of this scale, featuring minimal building coverage, expansive obstructed ground-level area, and paved maneuvering capacity are among the most scarce and sought-after asset types in commercial real estate. Supply of infill IOS in established urban corridors like Powers Blvd is structurally constrained, supporting longterm land value and rental growth.
- Tenant Investing Significantly Into Paving Lot: CDL Schools LLC funded a paved surface totaling approximately 1-acre of purpose-built maneuvering area. This level of capital investment by the tenant significantly reduces re-tenanting risk and demonstrates long-term operational commitment to the site.
- Long-Term Net Lease with Landlord-Favorable Expense Structure: New Five-Year Lease with one, five-year renewal option at Fair Market Value. Tenant reimburses all real estate taxes and landlord insurance costs, providing a highly passive income stream with minimal landlord responsibilities.
- Institutional Tenant: Transforce-Backed National Platform: The CDL Schools LLC is backed by Transforce Group, the largest CDL driver staffing and recruitment company in the United States, serving the full lifecycle of commercial truck driver employment. The FMCSA's Entry-Level Driver Training (ELDT) rule mandates formal school-based training for all new CDL applicants, structurally driving demand and making licensed training facilities mission-critical real estate.
- Fixed Rent Escalations Locked Through 2030: Annual escalations of 3% through the initial term provides inflation-resistant income growth and a compounding NOI profile.
Listing Contacts
Listed by Marcus & Millichap - Denver
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$216,300.00
$18,025.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
Map
Zoning
I-2 IndustrialLight IndustrialLimited Industrial
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 227 uses
View all 227 uses Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
