Park Place Shopping Center | 5050 N Academy Blvd
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Park Place Shopping Center 5050 N Academy Blvd
34,578 SF 66% Leased Retail Building Colorado Springs, CO 80918 For Sale
Investment Highlights
- Currently 70% leased, the opportunity offers immediate value-add through lease-up.
- Situated at the signalized hard corner of N Academy Blvd (45,300 VPD) and N Union Blvd (30,000 VPD).
- Positioned across from Academy Place Shopping Center (2.4M Annual Visitors) and Union Square Shopping Mall (923K Annual Visitors).
- Potential to reduce basis by selling the separately parceled Perfect Teeth Dental - the #2 ranked location in Colorado and #5 nationwide (Placer.ai).
- Academy Blvd is the primary retail corridor in Colorado Springs, featuring many prominent national retailers.
- Colorado Springs retail market vacancy rate is near historic lows at 4.3%
Executive Summary
Blue West Capital is pleased to present the sale of Park Place Plaza, a well-located neighborhood shopping center in the vibrant city of Colorado Springs, CO. This retail center comprises two buildings totaling 34,578 square feet, including 16 rentable retail units, a coffee kiosk, and 9 storage units. Currently, the property is 70% leased, offering qualified investors an immediate value-add opportunity.
Park Place Plaza is strategically situated at the signalized intersection of N Academy Blvd (45,300 VPD) and N Union Blvd (30,000 VPD). N Academy Blvd is the primary and most sought-after retail corridor in Colorado Springs, home to many prominent national retailers.
The Colorado Springs Metropolitan Statistical Area (MSA) boasts a population exceeding 760,000 people. The U.S. News & World Report recently ranked Colorado Springs as the 3rd Best Place to Live in the United States, thanks to its affordability compared to Denver, low property taxes, and high average household income. These strengths underpin a robust local economy, creating a solid foundation for addressing the community's retail needs.
Park Place Plaza is strategically situated at the signalized intersection of N Academy Blvd (45,300 VPD) and N Union Blvd (30,000 VPD). N Academy Blvd is the primary and most sought-after retail corridor in Colorado Springs, home to many prominent national retailers.
The Colorado Springs Metropolitan Statistical Area (MSA) boasts a population exceeding 760,000 people. The U.S. News & World Report recently ranked Colorado Springs as the 3rd Best Place to Live in the United States, thanks to its affordability compared to Denver, low property taxes, and high average household income. These strengths underpin a robust local economy, creating a solid foundation for addressing the community's retail needs.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
34,578 SF
Building Class
C
Year Built/Renovated
1978/2021
NOI
$427,881
Percent Leased
66%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Land Acres
2.90 AC
Zoning
PBC - Planned Business Center
Parking
150 Spaces (4.34 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Monument Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 5018
- 2,500-5,000 SF
- Flex
- In-Line
- Now
- 5022
- 1,113 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 5006 | 1,465 SF | Retail | In-Line | Now |
| 5012 | 885 SF | Retail | In-Line | Now |
| 5018 | 2,500-5,000 SF | Flex | In-Line | Now |
| 5022 | 1,113 SF | Retail | In-Line | Now |
| 5026 | 3,425 SF | Retail | In-Line | Now |
5006
| Size |
| 1,465 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
5012
| Size |
| 885 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
5018
| Size |
| 2,500-5,000 SF |
| Space Use |
| Flex |
| Position |
| In-Line |
| Available |
| Now |
5022
| Size |
| 1,113 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
5026
| Size |
| 3,425 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
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5006
| Size | 1,465 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
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5012
| Size | 885 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
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5026
| Size | 3,425 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Walk Score ®
Very Walkable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 63214-07-008 | Improvements Assessment | $332,720 |
| Land Assessment | $421,290 | Total Assessment | $754,010 |
PROPERTY TAXES
Parcel Number
63214-07-008
Land Assessment
$421,290
Improvements Assessment
$332,720
Total Assessment
$754,010
-
Eric Diesch -
Bryce McNeely -
Blue West Capital, LLC.
(720) 638-5412
x173
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STREET
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Park Place Shopping Center | 5050 N Academy Blvd
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