People probably aren’t going to rent your home in Colorado Springs just because it’s close to their favorite pizzeria.
But, that kind of location flex certainly can’t hurt.
You don’t have to be a real estate investment expert to understand the importance of location. The neighborhood of your rental property has a huge impact on who wants to rent that home, how much they’re willing to pay, and whether they’ll stay in place and renew their lease agreement year after year.
We’re going to take a close look at how much location really matters. We’re especially going to dive into the top restaurants, and activities that are found in Colorado Springs. This may impact where you buy your next investment.
Best Colorado Springs Restaurants Near Your Rental Property
Restaurants do more than just serve food; they create community hubs that draw people together. A flourishing restaurant scene can also signal an uptick in the area’s social and economic dynamics. These businesses often attract a diverse clientele, promote foot traffic, and can significantly boost property values.
For real estate investors, owning a rental property in a thriving culinary landscape is often a very good sign. Here are some of the top restaurants in Colorado Springs and what they reveal about their respective neighborhoods’ viability for real estate investment.
- The Rabbit Hole – Downtown Colorado Springs
The Rabbit Hole is an underground gastropub offering an eclectic menu and a speakeasy vibe. Known for its unique ambiance and creative cocktails, it draws both locals and tourists.
Downtown areas are typically strong when it comes to cultural and economic activity, and Colorado Springs is no exception. The Rabbit Hole’s constant popularity indicates a strong and growing demand for urban living, making this neighborhood appealing for investors looking to capitalize on mixed-use developments and rental properties.
- Shuga’s – East End
Shuga’s is a quirky spot beloved for its artisan cocktails, creative small plates, and vibrant atmosphere. Its retro charm attracts a diverse crowd, from young professionals to artsy creatives.
The East End has seen significant revitalization over the past few years. The eclectic vibe and the steady stream of patrons at Shuga’s suggest an area that’s growing in popularity. For investors, this means you can bet on high potential in both residential and commercial properties.
- The Margarita at PineCreek – Northgate
Nestled among pines, The Margarita at PineCreek offers a seasonal menu with an emphasis on fresh, local ingredients. It’s a go-to for fine dining experiences and intimate gatherings.
Northgate is characterized by its suburban tranquility and scenic views, with a real estate market that appeals to families and retirees. The presence of upscale dining options like The Margarita at PineCreek reflects a stable and affluent community, ideal for long-term residential investments.
- Paravicini’s Italian Bistro – Old Colorado City
Well-known for its authentic Italian cuisine, Paravicini’s is a fantastic neighborhood restaurant that locals love for its cozy atmosphere and hearty meals.
Old Colorado City offers tenants and investors historic charm and a unique character, making it an attractive spot for tourists and residents. Real estate here offers opportunities for investors interested in vacation rentals and luxury homes, driven by the area’s tourism appeal.
- Phantom Canyon Brewing Co. – Tejon Street
This brewpub is housed in a spacious, historic building and offers a wide range of handcrafted beers alongside a diverse menu. It’s become a focal point for social gatherings.
The Tejon Street corridor is a developing area with growing appeal. With increasing interest in urban nightlife and craft beer culture, real estate investors could benefit from both residential and commercial opportunities here.
Is Your Colorado Springs Rental Property Near These Popular Activities?
Here’s a look at some top activities and what they indicate about the potential of neighborhoods in Colorado Springs.
- Art Complexes and Galleries
Vibrant art communities like those found around the Cottonwood Center for the Arts signals an influx of creative professionals and an appreciation for art and culture. Neighborhoods with thriving art scenes often attract tenants, creating demand for diverse housing options.
- Local Festivals
Events such as the First Friday Art Walks and the Colorado Springs Fine Arts Center showcase local talent and draw crowds from nearby regions. These events not only boost the local economy but also tell us about a neighborhood’s potential for growth and increased property values.
- Hiking and Parks
Colorado Springs is known for its extensive network of trails and parks, including the famous Garden of the Gods. Areas with easy access to outdoor recreation options are appealing to health-conscious residents and can lead to increased demand for housing.
- Adventure Sports
The popularity of activities such as rock climbing and mountain biking speaks to a community’s active lifestyle. Thrill-seeking tenants will want to be close to neighborhoods that support these recreational activities. Such locations often see higher rates of occupancy and rental demand, presenting lucrative investment opportunities.
- Universities and Colleges
Proximity to institutions like the University of Colorado Colorado Springs (UCCS) will assure investors a steady pool of tenants who are students and faculty. This drives demand for rental properties and provides a stable tenant base for investors.
- Research and Innovation Hubs
Colorado Springs is home to various research centers and tech companies. Areas with growing innovation hubs often experience economic growth, making them attractive for long-term real estate investment.
- Parks and Recreational Facilities
Neighborhoods with well-maintained parks and recreation centers are attractive to tenants, signaling a safe and community-oriented environment. These areas tend to have good schools and community engagement, which are crucial factors for many homebuyers and tenants. There’s more of a demand for green space than ever before, and if you can meet this demand with some neighborhood parks, your rental property will be leased quickly and for a profitable rent.
- Farmers’ Markets and Local Events
Regular farmers’ markets and community events reflect a strong sense of local engagement and community pride. Investing in neighborhoods with active communities can lead to higher property appreciation rates over time.
You know how important location is when you’re buying a rental property. Before you invest next, make sure you spend some time evaluating the schools in the neighborhood, the restaurants in the area, and the types of activities, entertainment, and recreation that are available close by to the tenants who may rent your home. The right property is essential to a profitable investment experience. The right location is, too.
Let’s talk about your investment goals and how we can help you reach them. Please contact us at Muldoon Associates for any questions you have about Colorado Springs property management and buying rental properties.
