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    Medical Office with Ample Parking Title is generated by Realmo AI

    1605 N Union Boulevard, Colorado Springs, CO 80909

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    Claim this Listing
    For Sale
    $2,350,000

    Spacious medical office with 17 exam rooms and parking.

    Type:Commercial/Industrial
    Property size:
    13,273 SF
    Lot size:
    0.52 Acres
    Price / SF:
    $177/SF
    Added:
    Apr 13, 2024
    Days on Market:
    816
    Last Refresh:
    Jul 4 at 7:19 am

    Property Features for 1605 N Union Boulevard

    General Information

    Standard status
    Active
    Size
    13,273 SF
    Lot size
    0.52 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1999

    We can help!

    Contact an agent
    Charles D'Alessio

    Listing office Berkshire Hathaway HomeServices Synergy Realty Group

    Listing date Apr 13, 2024

    Source Exitrealty

    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 Berkshire Hathaway HomeServices Synergy Realty Group

    HighLights

    • 17 Examination Rooms with Wash Stations
    • Ample Parking Facilities
    • ADA‑Compliant Restrooms (5)
    • Elevator for Accessibility
    • X‑Ray Rooms (2)
    • Large Unfinished Basement

    Overview

    This medical office property features 17 examination rooms, each equipped with wash stations. The layout includes two X-ray rooms, five ADA-compliant restrooms, nine office spaces, and two nurse/reception areas. Three storage areas, two wash/supply areas, and two spacious lobby/waiting areas are also present. A mop sink closet is available. The building is equipped with an elevator for accessibility. The property includes a large unfinished basement with access to the boiler room, featuring a sprinkler system, an exit door, and a sump pump. Electrical installations are code-compliant, and the property has four water heaters and backflow prevention systems. Ample parking facilities are available. The property size is 13273 square feet.

    Local Financial Insights For Healthcare Medical

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $270.8k $20.40
    − Vacancy −$21.7k −$1.63
    EGI $249.1k $18.77
    − OpEx −$99.6k −$7.51
    NOI $149.5k $11.26
    13,273 SF · lease $20.40/SF/yr · vacancy 8.00% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $2.14M
    $1.87M – $2.49M (±1% cap)
    NOI $149,465 @ 7.0% cap · market cap 6.36%
    Second Best
    Office B
    $1.87M
    $1.63M – $2.18M (±1% cap)
    NOI $130,656 @ 7.0% cap · market cap 5.56%
    Theoretical Best
    Specialty Retail
    $2.62M
    $2.29M – $3.06M (±1% cap)
    NOI $183,486 @ 7.0% cap · market cap 7.81%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lamonica Jami L Physician Leah Anne Derksen Physician Ms. Alisha Walker Physician Dillon Johnson, FNP-C Physician Dr. Charles Mcmahon Ophthalmologist

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Hair Salon Nail Salon Auto Parts Store Auto Repair Shop Building Supply Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Pikes Peak Veterinary Clinic — 1813 N Union Blvd #100, Colorado Springs, CO 80909
    • Clevenger Jaime DVM — 1813 N Union Blvd #100, Colorado Springs, CO 80909
    • Bond Christie a, DVM — 1813 N Union Blvd #100, Colorado Springs, CO 80909
    • Mobile Veterinary Services — 1817 N Union Blvd, Colorado Springs, CO 80909
    • Mcentyre Gary DVM — Colorado Springs, CO 80909

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.7937769
    Latitude
    38.8558839

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    FAQs

    What type of property is this?
    Medical Office Space - Spacious medical office with 17 exam rooms and parking.
    Where is this medical office space located?
    The property is located at 1605 N Union Boulevard Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: 17 Examination Rooms with Wash Stations; Ample Parking Facilities; ADA‑Compliant Restrooms (5)
    (719) 660-5223
    We can help!
    Contact an agent
    Charles D'Alessio
    Real Estate License ID: 40034206
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