Contacts
Hoff & Leigh
Hoff & Leigh
Property Details
- Property Type Retail
- Property Size 14,192 SF
- Lot Size 1.97 Acre
- Year Built 1986
- Date Updated Jun 5, 2025
Now for Sale: The Space Village strip center [plus 4 additional pad site development lots].
The offering includes a 14,187 SF, 10 tenant, non-anchored retail strip center, located on 1.97 acres, zoned AO CAD, originally constructed in 1986 which produces approximately $435,000 in NOI. The cap rate is 7%. The price is $5,830,000.
The four additional development lots are (77,101 SF); (20,038 SF); (20.038 SF); and (20,037 SF). Potential uses for the development lots include hotel, apartments, self-storage, fast food, office, etc.
The property is located at the intersection of Peterson Road and Colorado State Highway 24 immediately at the new (north) entry-point to Peterson Space Force Base. The access from Highway 24 into Peterson SFB is being improved with state and federally funded road construction, including a major roundabout infrastructure. That new infrastructure is designed to significantly improve access to Peterson SFB and coincidentally will enhance access to the property. Other significant market information includes the planned 6,500 new homes immediately proximate to the site.
The strip center’s tenant mix includes Dairy Queen, Batteries Plus, and a roof top satellite tower. Other tenants are typical Mom & Pop strip center tenants.
Reason for the sale: Because the Seller is “out of state” he is not easily able to manage development of the pad sites.
Value Proposition: Purchase the property on a cap rate and add value by developing the individual lots with new construction.
Reach out to the broker for more info on lease terms and amenities
Getting around
-
38/100
Walk Score ®
-
20/100
Transit Score ®
-
48/100
Bike Score ®
Location
- City Colorado Springs, CO
- Neighborhood Cimarron Hills
- Zip Code 80915
- Market Denver
Points of Interest
-
Conoco
0.19 miles
-
Phillips 66
1.49 miles
-
Mobil
1.53 miles
-
Kum & Go
1.65 miles
-
Circle K
1.80 miles
-
Loaf 'N Jug
2.36 miles
-
ChargePoint
3.09 miles
-
Dominos' EV Charger
4.43 miles
-
evconnect
5.01 miles
-
eVgo
6.49 miles
-
Airport Employee parking
2.79 miles
-
Valet Parking
2.86 miles
-
Valet Parking Lot
2.88 miles
-
Rental car parking
2.89 miles
-
Short term Airport Parking
2.93 miles
-
Longterm Airport Parking
2.98 miles
-
Airport Parking payment
3.14 miles
-
DQ Grill & Chill
0.00 miles
-
Sandy's
0.20 miles
-
Building 1365 - McDonald's
0.50 miles
-
Building 1160
0.83 miles
-
Waffle House
1.28 miles
-
Carl's Jr.
1.28 miles
-
Subway
1.29 miles
-
O'sae Sushi Ramen Bistro
1.43 miles
-
Arnold's Donuts and Coffee
1.54 miles
-
Monica's Taco Shop
1.54 miles
-
Walmart Supercenter
1.62 miles
-
Asian Pacific Market
1.90 miles
-
Base Exchange
2.14 miles
-
Commisary
2.20 miles
-
King Soopers
2.26 miles
-
Walmart Neighborhood Market
2.50 miles
-
Safeway
2.74 miles
-
Big Lots
2.76 miles
-
Kohl's
2.89 miles
-
JCPenney
3.31 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
