• Year Built: 1952
2521 West Colorado Avenue is aretail property for lease in Colorado Springs, CO.
AMAZING OWNER FINANCING: 2521 West Colorado Avenue is a very clean, small retail building in the heart of OCC. The building is a 3-plex, where each unit is 1,250 square feet [plus there are about 400 more square feet of storage space and abundant parking in the rear of the property]. There is currently 1 unit (with a full kitchen) available. The building is pre-approved by the city for any manner of marijuana sales including the manufacture and sale of edibles.
The math is simple. The building currently generates $52,800 in gross rent which is offset by approximately $10,000 in annual expense.
The Owner will sell for $650,000. With $100,000 down, he will carry the lending at 4.75% for 25 years, fully-amortized (no balloon or interest rate adjustment!), and on that basis, the monthly payment to own would only be $3,175. [The seller will carry this lending for any serious buyer, including someone in the marijuana business.]
Please describe your commercial real estate requirements. We’ll introduce you to local properties that match your criteria.