Office Building Near Downtown
For Sale
Contact for pricing
128 S Tejon St, Colorado Springs, CO 80903
Urban office property surrounded by restaurants, hotels, professional services, government uses, and cultural destinations.
Property Size43,226 SF
Price / SF$115.44
Days on Market49
Property Features for 128 S Tejon St
General Information
Standard status
Active
Size
43,226 SF
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield | Colorado Springs Commercial
(719) 634-1500
Listed By:
David Schroeder II · License #FA.100068961
(719) 322-3078
Source:
Moodyscre
Added: Sep 4
Changed: Oct 12
Last Checked: Oct 20 at 9:44PM
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 Cushman & Wakefield | Colorado Springs Commercial
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Investment Insights
Based on property information with market context.
This 43,226-square-foot office building is located at 128 S Tejon Street in Colorado Springs. The property sits within an established urban business district surrounded by restaurants, hotels, professional services, government uses, and cultural destinations.
The surrounding area also includes downtown residential development, hospitality activity, and a broad selection of restaurant and retail offerings. The mix of nearby services and destinations supports a walkable setting for employees, residents, and visitors, with the property positioned in an active downtown environment.
The surrounding area also includes downtown residential development, hospitality activity, and a broad selection of restaurant and retail offerings. The mix of nearby services and destinations supports a walkable setting for employees, residents, and visitors, with the property positioned in an active downtown environment.
Key Highlights
- 43,226‑square‑foot office building
- Located at 128 S Tejon Street in Colorado Springs
- Surrounded by restaurants, hotels, professional services, government uses, and cultural destinations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$425,506
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,510,120
$8.5M
Cap Rate 7%
$6,078,657
$6.1M
Cap Rate 9%
$4,727,844
$4.7M
Market Conditions
NOI Build-Up for 43,226 SF
Gross rent
$648.4K $15.00/SF
− Vacancy
−$81.0K −$1.88/SF
EGI
$567.3K $13.13/SF
− OpEx
−$141.8K −$3.28/SF
NOI
$425.5K $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%
$8,510,120
Cap Rate 7%
$6,078,657
Cap Rate 9%
$4,727,844
Alternative Uses
Best Use
Office B
$6.08M
$5.32M – $7.09M
NOI $425,506 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.54M
$7.47M – $9.96M
NOI $597,556 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,687
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Colorado Springs, CO
Frequently Asked Questions
What type of property is this?
Office building - Urban office property surrounded by restaurants, hotels, professional services, government uses, and cultural destinations.
Where is this office building located?
The property is located at 128 S Tejon St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $4,990,000.
What are key features of this property?
This property features: 43,226‑square‑foot office building; Located at 128 S Tejon Street in Colorado Springs; Surrounded by restaurants, hotels, professional services, government uses, and cultural destinations
