17-21 North Circle Drive, Colorado Springs, CO 80909 For Sale

This property is described by the El Paso County Tax Assessor as a 5,920 square feet retail strip center. There are 3 tenants who pay $6,880 per month = $82,560 in combined annual rent. The expenses are: (taxes = $14,487) + (insurance = $13,397) + (utilities = $6,095) + ((maintenance = $4,800 (includes snow removal, trash service, misc.)) + (property management = 10% = $8,256) = $82,560 - $47,035 = Net Operating Income = $35,525.

This is a good property that's been well maintained in a good location. The asking price is $850,000 which is $143.58 per square foot which is well below replacement cost estimated to be $250 per square feet The lot is 21,257 square feet. It's zoned MX-M-CU which allows for a variety of use, but is primarily zoned for retail.

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