3001-3287 S. ACADEMY BLVD 4 biens | Local commercial | À vendre | 11 805 378 € | Colorado Springs, CO

Craddock Commercial Real Estate is proud to offer a Value-Add opportunity in the fastest growing zip code in Colorado Springs. This redevelopment is located at the highly trafficked Academy and Hancock intersection, located in the high growth airport trade area. High density residential is planned in this zip code with several master planned communities under development to the east. One of the biggest drivers in this area is the largest employer in Colorado Springs, Ft. Carson. With roughly 26,000 civilian
and military personnel working on the base each day, Ft. Carson is a primary driver of growth in the area. Along with the revival of the COS Airport, and with powerful growth of a younger demographic, the area is poised for a renaissance. The 4 buildings offered in this portfolio represent 99,350 sq. ft. of recently remodeled and fully leased retail space. The current owner has priced the portfolio at a 7.25% cap, and well below replacement cost a $13,909,180.91.
The Mission Trace Shopping Center was originally developed in the 80’s. It thrived for years until the move of the anchor tenant in 2004. In 2006, an investment group acquired the properties and renovated the Center (all except for the former King Soopers property). The group figured that the owner of the former King’s would be interested in seeing the Center turnaround. However, with the purchase of the shopping center to the NW (currently anchored by King Soopers), the former anchor sits in the same state of affairs as the day the anchor moved. Here is the link to the Broker’s handling the sale of this property for a potential assemblage of the Center.
The Mission Trace properties in this portfolio have an average rent of $10.50/sq. ft. The average retail rent in an anchored center (in this area) is $18.00/sq. ft. By activating the buildings in this portfolio and potentially purchasing the anchor, a new owner could continue further upgrades to the site and re-anchor this Center to greater heights and economic return.
Additionally, the A Better Self-Storage site is available; there is potential to add the Ebony Beauty condo (15,000 SF) to the portfolio purchase. Please contact the broker for details. With acquisition of the overall site, the new owner can be a majority vote in the commercial owner’s association and move the entire Center to greater heights and escalating rent.