Historic Office Suites with Modern
For Sale
Contact for pricing
118 N Tejon Street, Colorado Springs, CO 80903
Move-in ready office suites with exposed brick character, updated windows, and common area improvements for a comfortable work environment.
Property Size26,371 SF
Days on Market142
Property Features for 118 N Tejon Street
General Information
Standard status
Active
Size
26,371 SF
Class
B
Property subtype
Office
Lease Term
Gross
Site & Location
Neighborhood
Downtown
Highway Access
Yes
Building Details
Building Size
26,371 SF
Properties For Sale
at 118 N Tejon Street Contact usSuite 200
Size
475 SF
Type
Office Building
Term
Negotiable
Suite 300
Size
995 SF
Type
Office Building
Term
Negotiable
Suite 304
Size
2,036 SF
Type
Office Building
Term
Negotiable
Suite 305
Size
451 SF
Type
Office Building
Term
Negotiable
Suite 400
Size
850 SF
Type
Office Building
Term
Negotiable
Suite 401
Size
1,050 SF
Type
Office Building
Term
Negotiable
Suite 403
Size
750 SF
Type
Office Building
Term
Negotiable
Suite 404
Size
600 SF
Type
Office Building
Term
Negotiable
Suite 405
Size
1,150 SF
Type
Office Building
Term
Negotiable
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Listing Agency:
Miramont Commercial Real Estate
Listed By:
Tim Agee
(719) 200-2735
Source:
Miramontcre
Added: Jun 11
Changed: Oct 25
Last Checked: Oct 28 at 5:52AM
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 Miramont Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property offers unique, move-in ready office suites within a quiet office setting. Suites feature exposed brick finishes and architectural character, paired with functional modern improvements. Recent upgrades to common areas support a more polished professional environment, and new windows have been installed to improve temperature control and comfort within the suites. Office layouts also incorporate natural light.
The property is positioned in a high-visibility location, with street parking available and nearby parking lots providing additional options for visitors and employees. Easy access to I-25 supports convenient regional connectivity, and high-speed internet is available.
For tenants, buyers, or owner-users, the combination of historic character and practical updates can support a range of professional uses that benefit from natural light and comfortable indoor conditions. The ready-to-occupy suites and improved common areas make the property straightforward for immediate occupancy and ongoing day-to-day operations.
The property is positioned in a high-visibility location, with street parking available and nearby parking lots providing additional options for visitors and employees. Easy access to I-25 supports convenient regional connectivity, and high-speed internet is available.
For tenants, buyers, or owner-users, the combination of historic character and practical updates can support a range of professional uses that benefit from natural light and comfortable indoor conditions. The ready-to-occupy suites and improved common areas make the property straightforward for immediate occupancy and ongoing day-to-day operations.
Key Highlights
- Move‑in ready office suites with exposed brick finishes and architectural character
- Recent common area upgrades for an improved professional environment
- New windows installed to help improve temperature control and comfort in the suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$259,590
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,191,800
$5.2M
Cap Rate 7%
$3,708,429
$3.7M
Cap Rate 9%
$2,884,333
$2.9M
Market Conditions
NOI Build-Up for 26,371 SF
Gross rent
$395.6K $15.00/SF
− Vacancy
−$49.4K −$1.88/SF
EGI
$346.1K $13.13/SF
− OpEx
−$86.5K −$3.28/SF
NOI
$259.6K $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 Rate 5%
$5,191,800
Cap Rate 7%
$3,708,429
Cap Rate 9%
$2,884,333
Alternative Uses
Best Use
Office B
$3.71M
$3.24M – $4.33M
NOI $259,590 @ 7.0% cap · market cap 34,612.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.21M
$4.56M – $6.08M
NOI $364,553 @ 7.0% cap · market cap 48,607.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,789
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Colorado Springs, CO
Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office suites with exposed brick character, updated windows, and common area improvements for a comfortable work environment.
Where is this office building located?
The property is located at 118 N Tejon Street Colorado Springs, CO.
What are key features of this property?
This property features: Move‑in ready office suites with exposed brick finishes and architectural character; Recent common area upgrades for an improved professional environment; New windows installed to help improve temperature control and comfort in the suites
