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5400 E Pikes Peak, Colorado Springs, CO 80916

Commercial property for sale

  • Description
  • Property: Approximately 17.99+/- acres located on the south-west corner of Hwy 24/Platte Avenue and Powers Boulevard in the south-east market of Colorado Springs The investment highlights are as follows: ##Significant growth and growth potential in area and with the defense/military market ##Ideally positioned in a high traffic/high growth area, dynamic military/retail/industrial corridor in Colorado Springs, Colorado ##Situated close to the Airport and a major highway and Powers Boulevard Property History: I acquired this property with a partner over 2 years ago. Our intent was to hold for 2 or more years to see what the market would do. In the interim my partner has decided to move forward with another property in California. At this time I made him an offer and currently control the piece. Need: I am looking for a strong partner or signature at the bank to join me in financing and sharing in the future upside. Loan to be placed: $900,000 figured at $900,000 at 8% to be amortized over 25 years Current market value: $1.3 m to $1.5 m (Comparables: $2.25 to $2.50 psf) Current Equity (to be split 50/50): $250,000 Note: All profit and loss to be shared equally The intentions are to hold this property for 3 to 5 years and: A. Sell at a profit B. Joint venture with a strong developer C. Determine needs and market and possibly develop ourselves ##Price below market- fair market value is $2.00 to $2.50 psf where as this investment is priced at approximately $1.25 psf- Approximately 25% of instant additional equity upon ###buy in### of partnership ##Presents an attractive investment in uncertain times
  • Property Details
  • Property Type: Land
    Use Types: Industrial
    Status: Available
    Price: $ 1
    Lot Size: 17.990 Acres
    MSA: Colorado Springs
    Zoning: PIP-1 Planned Industrial Park
    Terms: Owner Financing
    Added: 01/03/2012
    Last Update: 09/15/2012
  • Contact info
  • 719-590-1717 [Office]
  • Note

  • Details Info about this row that located on 5400 E Pikes Peak, Colorado Springs, CO 80916 was got from trusty sources, but All Foreclosures Homes can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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