Address: 790 Copper Center Parkway, Colorado Springs, Colorado, United States 80921
Type: Net Leased Auto Service
Cap Rate: 6.50%
Lease Type: Double Net (NN)
Annual Rent: $235,320
Net Operating Income: $235,320
Lease Term Remaining: 10.9 Years
Rental Increases: Annual Change in CPI, Capped at 6% Every 5 Years
Options: Two, Five Year Options
Rentable Sq/Ft: 15,350 SF
Rent Sq/Ft: $15.33
Price Sq/Ft: $236
Lot Size: +/-1.62 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Caliber Collision located at 790 Copper Center Parkway in Colorado Springs, Colorado. The site consists of roughly 15,350 rentable square feet of building space and has 10.9 years left on a double-net (NN) lease. The initial annual rent will be $235,320, which is scheduled to increase throughout the base term and continuing through the two (2), five (5)-year tenant renewal options.
The subject Caliber Collision is located on Copper Center Parkway in Colorado Springs, Colorado. The subject property is located in an area that is undergoing major growth and development.
The property is well positioned in a dense retail corridor with many national and local tenants, shopping centers and schools. Major national tenants include: Sprouts, Bass Pro Shops, Boot Barn, Ace Hardware, Chick-fil-A, Wendy’s, Jimmy John’s, Domino’s, Carl’s Jr., Mod Pizza, as well as many more. The subject property benefits from being located just three miles from the United States Air Force Academy, a military academy for the United States Air Forces, boasting an enrollment of approximately 5,000 cadets. The subject property is also in direct proximity to The Classical Academy High School, which has an enrollment of approximately 650 students.
The subject property is situated on Copper Center Parkway, which intersects with Voyager Parkway and has an average daily traffic count of nearly 13,000 vehicles. Voyager Parkway intersects with North Gate Boulevard and runs parallel to Interstate 25, which have 16,000 and 63,500 vehicles per day, respectively. There are more than 22,600 individuals residing within a three-mile radius of the subject property and more than 53,700 individuals within a five-mile radius of the property.
Colorado Springs is a home rule municipality that is the largest city by area in Colorado as well as the county seat and the most populous municipality of El Paso County, Colorado. Colorado Springs is located in the east central portion of the state along Fountain Creek and is located 60 miles south of the Colorado State Capital of Denver. The economy is driven primarily by the military, the high-tech industry, and tourism. The defense industry is a significant part of the Colorado Springs economy, with some of the city’s largest employers coming from the sector. A large segment of this industry is dedicated to the development and operation of various projects for missile defense. With its close ties to defense, the aerospace industry has also influenced the Colorado Springs economy. Significant defense corporations in the city include Boeing, General Dynamics, Harris Corporation, SAIC, ITT, L-3 Communications, Lockheed Martin, and Northrop Grumman. The Space Foundation is based in Colorado Springs as well. Other major corporations with connections to the city include Verizon Business, Hewlett-Packard, SAN, Broadcom and Microchip Technology.
Broker of Record: Bob Kaplan – License # ER100052334