4615 Northpark Dr
Colorado Springs, CO 80918
Office Property For Sale
EXECUTIVE SUMMARY
4615 Northpark Drive is a 13,992 SF, two story concrete tilt-up, M1 zoned industrial building located on a
59,525 SF lot which was originally constructed in 1970. It has since received a new roof and most of the RTU’s
have been replaced. The building produces approximately $6,000 per month in gross income from the 2nd
floor month-to-month leases. The annual property insurance has been around $2,100 and the annual property
tax is estimated to be around $16,000.
The main level has 2 suites (101 and 102). Suite 101 is 1,250 SF (reception, conference, and 4 private offices).
Suite 102 is approximately 5,000 SF (reception area, conference, storage, 4 private offices plus approximately
3,200 SF of open area). The 2nd floor has 6 separate rental suites.
The asking sale price (a bargain in today’s inflationary market) is $2,450,000 which is $175 per square foot.
Comparable “pure industrial” buildings with more restrictive industrial zoning are selling for prices exceeding
$200 - $250 per square foot.
59,525 SF lot which was originally constructed in 1970. It has since received a new roof and most of the RTU’s
have been replaced. The building produces approximately $6,000 per month in gross income from the 2nd
floor month-to-month leases. The annual property insurance has been around $2,100 and the annual property
tax is estimated to be around $16,000.
The main level has 2 suites (101 and 102). Suite 101 is 1,250 SF (reception, conference, and 4 private offices).
Suite 102 is approximately 5,000 SF (reception area, conference, storage, 4 private offices plus approximately
3,200 SF of open area). The 2nd floor has 6 separate rental suites.
The asking sale price (a bargain in today’s inflationary market) is $2,450,000 which is $175 per square foot.
Comparable “pure industrial” buildings with more restrictive industrial zoning are selling for prices exceeding
$200 - $250 per square foot.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
13,818 SF
Building Class
B
Year Built
1970
Price
$2,650,000
Price Per SF
$191.78
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,909 SF
Slab To Slab
11’
Building FAR
0.23
Lot Size
1.37 AC
Opportunity Zone
Yes
Zoning
M1/CU, CO. Springs
Parking
190 Spaces (6 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Convenience Store
- Restaurant
PROPERTY TAXES
| Parcel Number | 63193-03-009 | Improvements Assessment | $87,060 |
| Land Assessment | $71,420 | Total Assessment | $158,480 |
