Renovated Professional Office
For Sale
$1,300,000
1011 North Weber Street, Colorado Springs, CO 80903
Updated workplace with reception, private offices, conference rooms, and collaborative areas.
Property Size5,062 SF
Price / SF$256.82
Days on Market51
Property Features for 1011 North Weber Street
General Information
Standard status
Active
Size
5,062 SF
Total Parking Spaces
15
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
5,062 SF
Buildings
1
Listing Agency:
Hoff & Leigh Colorado Springs
(719) 337-0999
Listed By:
Holly Trinidad · License #ER.100022369
(719) 337-0999
Source:
Hoffleigh
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 31 at 12:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoff & Leigh Colorado Springs
Investment Insights
Based on property information with market context.
This approximately 5,000-square-foot professional office building has been renovated with modern, high-quality interior finishes. Its functional arrangement includes a reception area, private offices, conference rooms, collaborative work areas, and break spaces, creating a polished setting for professional office operations. The property is in move-in-ready condition and includes approximately 15 on-site surface parking spaces.
Positioned along North Weber Street, the building is minutes from Downtown Colorado Springs, Interstate 25, Colorado College, and major employment centers. The surrounding area includes restaurants, retail businesses, healthcare providers, and other professional services. The configuration is suited to professional services, legal, engineering, medical, financial, nonprofit, or general office users, as well as owner-users, investors, or office tenants.
Positioned along North Weber Street, the building is minutes from Downtown Colorado Springs, Interstate 25, Colorado College, and major employment centers. The surrounding area includes restaurants, retail businesses, healthcare providers, and other professional services. The configuration is suited to professional services, legal, engineering, medical, financial, nonprofit, or general office users, as well as owner-users, investors, or office tenants.
Key Highlights
- Approximately 5,000 SF professional office building
- Renovated interior with modern, high‑quality finishes
- Approximately 15 on‑site surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,829
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$996,580
$996.6K
Cap Rate 7%
$711,843
$711.8K
Cap Rate 9%
$553,656
$553.7K
Market Conditions
NOI Build-Up for 5,062 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$75.9K $15.00/SF
− Vacancy
−$9.5K −$1.88/SF
EGI
$66.4K $13.13/SF
− OpEx
−$16.6K −$3.28/SF
NOI
$49.8K $9.84/SF
Area
Colorado Springs, CO
Vacancy
12.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$996,580
Cap Rate 7%
$711,843
Cap Rate 9%
$553,656
Alternative Uses
Best Use
Office B
$711.8K
$622.9K – $830.5K
NOI $49,829 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$999.7K
$874.7K – $1.17M
NOI $69,977 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated workplace with reception, private offices, conference rooms, and collaborative areas.
Where is this office building located?
The property is located at 1011 North Weber Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 5,000 SF professional office building; Renovated interior with modern, high‑quality finishes; Approximately 15 on‑site surface parking spaces
