575 S Union Boulevard Bldg , Unit

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Virtual Tour Sold Colorado Springs, CO 80910 MLS# 3825266 Sold by Lauren Collier on 06/20/2022
$3,815,000
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Commercial Property Type
4.48 Acres
38605.00 Sq Ft
1982 Year Built
PBC Zoning

Overview

Development opportunity near downtown Colorado Springs. Exciting infill on 4.88 acres! Four contiguous parcels across from Prospect Lake and Memorial Park on downtown's eastern edge. Idyllic lake and mountain views, including great views of Pikes Peak. Conceptual plan showing PUD rezone for mixed residential/commercial is just a starting point. Most of the property presents the opportunity to go vertical. Pikes Peak Towers building on the parcel behind will have a protected view corridor over a portion of the property, limiting height at that portion only to 3 stories tall. Interim income opportunity with liquor store, charter school, lodge hall and one vacant lot. About the parcels: Three PBC zoned properties, including the lodge building at lighted intersection Union & Eastlake, school property on Eastlake, and Lake Liquors at Airport and Union. Plus the adjacent fenced vacant land on Airport zoned R5 HR (multifamily residential high rise). The buildings are concrete block buildings on expansive parcels. 575 S Union is 19,600 SF above grade w 2,989 SF basement on 1.58 acres built 1982. Current use is charitable use as lodge hall for the Odd Fellows, great for hosting large events. 1810 Eastlake is 14,716 SF on 1.36 acres built 1962. Originally a bowling alley, 1810 Eastlakes's current use is Education Use, with an active lease to a charter school. 501 S Union is 1300sqft building constructed in 1960. It is an active liquor store. 0 Airport Rd is land used for parking and is fenced with chain-link.

New Home Sales Hours

Courtesy Of Live Dream Colorado LLC
Source: REcolorado

View On REcolorado

Upcoming Open Houses

    Features

    Leasing Information

    Leasing Details
    • Application Fee $
    • Availability Date
    • Corporate Rental?
    • Deposits Potentially Refundable
    • Existing Lease Type NNN
    • Lease Amount $8
    • Lease Description
    • Lease Duration
    • Liability Insurance Required
    • Owner Pays
    • Rent Deposit
    • Rental Application
    • Security Deposit $
    Pet Details
    • Pet Deposit
    • Pet Rent
    • Pets Allowed

    Interior Features

    Summary

    • Year Built Effective 1982
    Basement Details
    • Basement? No
    • Basement
    • Basement Ceiling Height
    Fireplace Detail
    • Fireplace Features
    • No. of Fireplaces
    Square Foot Details
    • SqFt 38,605
    • Living Area, Finished
    • Above grade, Finished
    • Basement, Finished
    • Basement, Unfinished
    • PSF Total $98.82
    • PSF Finished $
    • PSF Above Grade $
    Use details
    • Leaseable Area 38605.00
    • Office Area
    • Retail Area
    • Warehouse Area
    Other
    • Accessibility Features
    • Appliances
    • Building Class Class C
    • Building Features
    • Ceiling Height
    • Common Walls
    • Exclusions Stained glass and all furniture unless otherwise specified
    • Flooring
    • Furnished
    • Interior Features
    • Laundry Availability
    • Security Features Panic Alarm
    • 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 3
    • Number of Units Furnished
    • Number of Units Vacant 1
    • Unit Features
    Single Unit Details
    • Unit Type Flex
    • Total Units 1
    • Average Rent
    • Average SqFt 22589.00
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description Odd Fellows Hall
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit
    • Unit Type Flex
    • Total Units 1
    • Average Rent
    • Average SqFt 14716.00
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description Education Use
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit
    • Unit Type Flex
    • Total Units 1
    • Average Rent
    • Average SqFt 1300.00
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description Lake Liquors
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit

    Exterior/Lot Features

    Summary

    • Available Elevations
    • Entry Location
    • Faces
    • Horse Amenities
    • Horse Property
    • Levels One
    • Stories 1
    • Structure Type Free Standing
    • Unit Floor #
    • View
    Builder Details
    • Builder
    •  
    • Completion Time From Groundbreaking
    • Model Type
    Construction details
    • Architecture
    • Construction Materials Block
    • Foundation Details
    • Roof
    Exterior Details
    • Dock Features
    • Door Features
    • Exterior Features
    • Fencing
    • 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,Subdividable
    • Irrigated Acres
    • Lot Number
    • Lot Size Acres 4.48
    • Lot Size Dimensions
    • Lot Size SqFt 195,105
    • Sq Ft
    • Pasture Acres
    • Price Per Acre $851,562.50
    • Vegetation
    • Waterfront Features
    Mobile Details
    • Make
    • Model
    • Body Type
    • Exterior Dimensions x
    • Skirt
    Outbuilding details
    Road details
    • Access Private Road
    • Road Responsibility Public Maintained Road
    • Road Surface Paved

    Parking/Garage

    Parking Space Summary

    • Parking Features Asphalt,Circular Driveway
    • Total Parking Spaces 0
    • Garage Spaces
    • Total Carport Spaces
    • Total Offstreet Spaces 0
    • Total Reserved Spaces 0
    • Total RV Spaces 0
    Parking Space Details

    Utilities & Green Home Features

    Summary

    • Cooling
    • Green Energy Efficient
    • Heating
    • HVAC Description
    Green Ratings
    Power Production Details
    Sewer
    • Sewer Public Sewer
    • Sewer Fee
    • Sewer Tap Paid YN
    Utilities details
    • Electric Service
    • Gas Tap Fee
    • Gas Tap Paid YN
    • Utilities Electricity Connected,Natural Gas Connected,Phone Connected
    Water / Well
    • Irrigation Source
    • Issued Well Permit Numbers
    • Water Available 1
    • Water Source Public
    • Well Type
    • Well Usage
    • Water Fees
    • Water Tap Paid?
    • Water/Mineral Rights

    Association Information

    HOA Summary

    • Amenities Completed
    • Amenities Opening
    • Association Amenities
    • 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 10.00
    • Cap Rate Calculation
    Actual expense details
      Commission Information
      • Buyer Agency Compensation 3.50%
      • Transaction Broker Compensation 3.50%
      • Compensation Offered
      • Dual Variable Compensation No
      • Commission Modified NA
      • Closing Comments
      Income details
      • Actual Annual Net Income $
      • Gross Income $
      • Income Includes
      • Income Includes Description
      Landleasing details
      • Land Lease Amount
      • Land Lease Amount Frequency
      • Land Lease?
      Projected
      • Other Annual Income $
      • Potential Rental Income Annual $
      • Projected Annual Expense $
      • Projected Annual Net Income $
      • Projected Gross Income $
      • Projected Gross Operating Income $
      • Projected Gross Scheduled Income $
      • Vacancy Credit Losses
      Tax details
      • Annual Tax $18,178.44
      • Legal Description LOT 1 IOOF SUB FIL NO 1 COLO SPGS and TRACT IN NW4NW4 OF SEC 21-14-66 AS FOLS, COM AT INTSEC OF N LN OF EASTLAKE BLVD + E LN OF S UNION BLVD EASTLAKE SUB FIL 1, TH ELY ALG N LN OF EASTLAKE BLVD A DIST 125 FT FOR POB, TH ANG L 90
      • Tax Exemptions
      • Tax ID 6421205011
      • Tax Year 2019
      Other
      • Tenant Pays
      • Utilities Metering
      • Utilities Paid By Tenant

      Neighborhood

      Summary

      • Building Name Odd Fellow, Life Skills, Lake Liquors
      • Development Name
      • Park Name
      • Senior Community No
      • Subdivision
      New Home Community
      • Community Description
      • Community MLS #
      • Community Name
      • Community Opening
      • Community Website
      • Current Promotions
      • Development Status
      • Directions from Agent Located on the northeast corner of the intersection of South Union Blvd and Eastlake Blvd (South of Pikes Peak Ave, North of Fountain Blvd).
      • Move In Date
      • New Home Available Options
      • New Home Land MLS #
      • New Home Plan MLS #
      Zoning Details
      • Current Use Education,Event Space
      • Incorporated? No
      • Zoning PBC
      • Zoning Jurisdiction

      Other

      Business Details
      • Business Amenities
      • BusinessDescription
      • BusinessType
      • Year Established
      History
      • Original List Price $3,500,000
      Partial Ownership Details
      • Partial Ownership Amount
      • Week Remarks
      • Weeks Available
      Other
      • Home Warranty
      • Ownership
      • Possession Close Plus 30 to 60 Days
      • Special Listing Conditions None Known
      • Year Built 1982

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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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