2860 S Circle Drive Unit

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Sold Colorado Springs, CO 80906 MLS# 7457126 Sold by Trish A. Rayner on 08/06/2019
$3,475,000
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Commercial Property Type
2.37 Acres
82500.00 Sq Ft
1972 Year Built
C-2 Zoning

Overview

Fantastic Office Opportunity! 4 Story with Walk out Basement, On Site Storage, Large Conference Room, Remodeled Bathrooms, 2 Elevators, 82,500 Gross Square Feet, approximately 71,229 rented square foot. 92% Current Occupied Spaces. Great Combination of month to month, Short & Long Term Leases. Rents are Low and Average $8 per sq ft....Potential at $10, $11 & $12 per square foot! Upside is HUGE!!!!! Right off I-25 and Lake/Circle Exit (138) Some Updating Already Complete. Several New Heat Pumps, New Digital Signage Just Installed for Advertising Potential Additional Income. Listing Broker has a ownership interest in building.

New Home Sales Hours

Courtesy Of MB Metro Brokers 7th Avenue Properties LLC
Source: REcolorado

Upcoming Open Houses

    Features

    Leasing Information

    Leasing Details
    • Application Fee $
    • Availability Date
    • Corporate Rental?
    • Deposits Potentially Refundable
    • Existing Lease Type
    • Lease Amount $
    • Lease Description Month to Month, Short & Long Terms Tenants
    • Lease Duration Other
    • Liability Insurance Required
    • Owner Pays Electricity,Exterior Maintenance,Gas,Insurance,Other,Taxes,Trash Collection,Water
    • Rent Deposit
    • Rental Application
    • Security Deposit $
    Pet Details
    • Pet Deposit
    • Pet Rent
    • Pets Allowed

    Interior Features

    Summary

    • Year Built Effective
    Basement Details
    • Basement? Yes
    • Basement Full
    • Basement Ceiling Height
    Fireplace Detail
    • Fireplace Features
    • No. of Fireplaces
    Square Foot Details
    • SqFt 82,500
    • Living Area, Finished 78,500
    • Above grade, Finished 82,500
    • Basement, Finished
    • Basement, Unfinished
    • PSF Total $42.12
    • PSF Finished $44.27
    • PSF Above Grade $42.12
    Use details
    • Leaseable Area
    • Office Area 71229.00
    • Retail Area
    • Warehouse Area
    Other
    • Accessibility Features
    • Appliances
    • Building Class
    • Building Features
    • Ceiling Height
    • Common Walls
    • Exclusions Any personal Property of Owners/Tenants
    • Flooring Carpet,Stone
    • Furnished
    • Interior Features Elevator
    • Laundry Availability
    • Security Features Security Entrance
    • Spa Features
    • Window Features

    Room Details

    Bathroom Details Total Bathrooms:
    Bathroom Location Details
    Bedroom Location Details Total Bedrooms:
    More Room Details

    Unit Information

    Summary

    • Number of Units
    • Number of Units Furnished
    • Number of Units Vacant
    • Unit Features
    Single Unit Details

    Exterior/Lot Features

    Summary

    • Available Elevations
    • Entry Location
    • Faces
    • Horse Amenities
    • Horse Property
    • Levels Multi/Split
    • Stories
    • Structure Type
    • Unit Floor #
    • View Mountain(s)
    Builder Details
    • Builder
    •  
    • Completion Time From Groundbreaking
    • Model Type
    Construction details
    • Architecture
    • Construction Materials Block,Brick
    • Foundation Details Slab
    • Roof Tar/Gravel
    Exterior Details
    • Dock Features
    • Door Features
    • Exterior Features Lighting,Maintenance Free Exterior
    • Fencing Full
    • Number of Docks
    • Number of Doors
    • Number of Storage Units
    • Other Equipment
    • Other Structures
    • Patio And Porch Features
    • Pool Features
    • Ski Features
    Livable Structure Details
    Lot Details​​​​​​​
    • Acres Leased
    • Crop Acres
    • Cultivated Acres
    • Features Near Public Transit
    • Irrigated Acres
    • Lot Number
    • Lot Size Acres 2.37
    • Lot Size Dimensions
    • Lot Size SqFt 103,237
    • Sq Ft
    • Pasture Acres
    • Price Per Acre $1,466,244.73
    • Vegetation
    • Waterfront Features
    Mobile Details
    • Make
    • Model
    • Body Type
    • Exterior Dimensions x
    • Skirt
    Outbuilding details
    Road details
    • Access
    • Road Responsibility
    • Road Surface Paved

    Parking/Garage

    Parking Space Summary

    Parking Features
    Parking Lot,Asphalt

    • Total Parking Spaces 185
    • Garage Spaces
    • Total Carport Spaces
    • Total Offstreet Spaces 185
    • Total Reserved Spaces 0
    • Total RV Spaces 0
    Parking Space Details

    Utilities & Green Home Features

    Summary

    • Cooling Central Air
    • Green Energy Efficient
    • Heating Forced Air,Heat Pump,Hot Water
    • HVAC Description
    Green Ratings
    Power Production Details
    Sewer
    • Sewer
    • Sewer Fee
    • Sewer Tap Paid YN
    Utilities details
    • Electric Service
    • Gas Tap Fee
    • Gas Tap Paid YN
    • Utilities
    Water / Well
    • Irrigation Source
    • Issued Well Permit Numbers
    • Water Available
    • Water Source
    • Well Type
    • Well Usage
    • Water Fees
    • Water Tap Paid?
    • Water/Mineral Rights

    Association Information

    HOA Summary

    • Amenities Completed
    • Amenities Opening
    • Association Amenities Hot Water
    • Association(s) No
    • HOA Fee Includes
    • Total Annual HOA Fees $0
    1st HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    2nd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    3rd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    Restrictions & Covenants
    • Pets Allowed
    • Rentals Allowed
    • Restrictions
    • Restrictions Other
    • Restrictions/Covenants? No

    Financial Considerations

    Summary

    • Cap Rate 4.81
    • Cap Rate Calculation gross less 10% vacancy minus CAM Expenses
    Actual expense details
    • Annual Expenses Benefits
    • Annual Water Expense $29,000
    • Association Fee Annual Expense $0
    • Cable TV Expense $
    • CAM Fees $
    • Electric Expense $120,000
    • Gas Expense $
    • Insurance Expense $11,000
    • Internet Annual Expense $5,200
    • Maintenance Expense $35,000
    • Operating Expense $205,000
    • Operating Expense Includes Advertising,Association,Insurance,Internet,Maintenance,Other,Professional Management,Personal Property Tax,Real Estate Tax,Staff,Utilities,Workmans Compensation
    • Other Expense 12000.00
    • Payroll Annual Expense $0
    • Personal Property Annual Expense $0
    • Phone Annual Expense $
    • Professional Management Expense $48,000
    • Real Estate Taxes $41,400
    • Workmans Compensation Expense 0.00
    Income details
    • Actual Annual Net Income $364,832
    • Gross Income $569,832
    • Income Includes Rent Only
    • Income Includes Description Rents from leases
    Landleasing details
    • Land Lease Amount
    • Land Lease Amount Frequency
    • Land Lease?
    Projected
    • Other Annual Income $
    • Potential Rental Income Annual $854,748
    • Projected Annual Expense $205,000
    • Projected Annual Net Income $5,649
    • Projected Gross Income $210,649
    • Projected Gross Operating Income $769,273
    • Vacancy Credit Losses 10
    Tax details
    • Annual Tax $50,850
    • Legal Description TRACT IN SW4 SEC 28-14-66 DES AS FOLS: COM AT SW COR OF SD SEC 28, TH N 00
    • Tax Exemptions
    • Tax ID 64283-00-054
    • Tax Year 2018
    Other
    • Tenant Pays Cable TV,Internet,None,Telephone
    • Utilities Metering Common Electric,Common Gas,Common Water
    • Utilities Paid By Tenant Included in Rent

    Neighborhood

    Summary

    • Building Name
    • Development Name
    • Park Name
    • Senior Community No
    • Subdivision Cheyenne Mountain
    New Home Community
    • Community Description
    • Community MLS #
    • Community Name
    • Community Opening
    • Community Website
    • Current Promotions
    • Development Status
    • Directions from Agent I-25 Exit lake/Circle Drive turn left on Circle Drive, 1st Left on Janitell Road 3rd Bldg on Right.
    • Move In Date
    • New Home Available Options
    • New Home Land MLS #
    • New Home Plan MLS #
    Zoning Details
    • Current Use
    • Incorporated? No
    • Zoning C-2
    • Zoning Jurisdiction

    Other

    Business Details
    • Business Amenities
    • BusinessDescription 4 Story with Walk out Basement, 82500 Gross sq ft 71229 rented sq ft, 2 elevators
    • BusinessType Barber/Beauty,Dental,Education/School,Medical,Meeting Hall,Professional Service,Service Center
    • Year Established 1972
    History
    • Original List Price $4,500,000
    Partial Ownership Details
    • Partial Ownership Amount
    • Week Remarks
    • Weeks Available
    Other
    • Home Warranty
    • Ownership Corporation/Trust
    • Possession
    • Special Listing Conditions None Known
    • Year Built 1972

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    School Zone

    District:
    Schools: Elementary School, High School, Middle School

    Area Map

    Walk Score

    Bike Score

    Bike Score

    0 description
    Transit Score

    Transit Score

    0 description summary
    Walk Score

    Walk Score

    0 description
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