Freestanding Medical Office
For Sale
Contact for pricing
1511 E Boulder St, Colorado Springs, CO 80909
Move-in ready clinical space with exam rooms, private offices, and reception directly across from UCHealth Memorial Hospital Central.
Property Size1,539 SF
Lot Size0.14 Acres
Price / SF$224.17
Days on Market26
Property Features for 1511 E Boulder St
General Information
Standard status
Active
Size
1,539 SF
Total Parking Spaces
9
Lot size
0.14 Acres
Property subtype
OFFICE
Zoning
OR
Building Details
Buildings
1
Stories
1
Building Size
1,539 SF
Listing Agency:
Olive Real Estate Partners, Inc.
(719) 659-1095
Listed By:
Alex Dumas · License #FA.040034163
(719) 659-1095
Source:
Moodyscre
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 22 at 8:01AM
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 Olive Real Estate Partners, Inc.
Investment Insights
Based on property information with market context.
Freestanding, single-story medical office building with a fully built-out clinical layout. The 1,539 SF space includes exam rooms, private offices, and a dedicated reception area, supporting a physician group, specialist practice, or other healthcare-adjacent use.
The property is positioned directly across from UCHealth Memorial Hospital Central and the U.S. Olympic & Paralympic Training Center, offering prominent visibility within the medical corridor. It sits on a 6,000 SF lot with 9 surface parking spaces for patient and staff access.
Zoning is listed as OR. The building is presented as move-in ready for an operator seeking clinical-ready improvements.
The property is positioned directly across from UCHealth Memorial Hospital Central and the U.S. Olympic & Paralympic Training Center, offering prominent visibility within the medical corridor. It sits on a 6,000 SF lot with 9 surface parking spaces for patient and staff access.
Zoning is listed as OR. The building is presented as move-in ready for an operator seeking clinical-ready improvements.
Key Highlights
- 1,539 SF single‑story freestanding medical office building with clinical build‑out
- Exam rooms, private offices, and dedicated reception area
- Directly across from UCHealth Memorial Hospital Central
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
$17,330
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
5.02%
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%
$346,600
$346.6K
Cap Rate 7%
$247,571
$247.6K
Cap Rate 9%
$192,556
$192.6K
Market Conditions
NOI Build-Up for 1,539 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
$31.4K $20.40/SF
− Vacancy
−$2.5K −$1.63/SF
EGI
$28.9K $18.77/SF
− OpEx
−$11.6K −$7.51/SF
NOI
$17.3K $11.26/SF
Area
Colorado Springs, CO
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
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%
$346,600
Cap Rate 7%
$247,571
Cap Rate 9%
$192,556
Alternative Uses
Best Use
Healthcare Medical
$247.6K
$216.6K – $288.8K
NOI $17,330 @ 7.0% cap · market cap 5.02%
Second Best
Office B
$216.4K
$189.4K – $252.5K
NOI $15,150 @ 7.0% cap · market cap 4.39%
Theoretical Best
Specialty Retail
$303.9K
$265.9K – $354.6K
NOI $21,275 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
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?
Medical Office Space - Move-in ready clinical space with exam rooms, private offices, and reception directly across from UCHealth Memorial Hospital Central.
Where is this medical office space located?
The property is located at 1511 E Boulder St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,539 SF single‑story freestanding medical office building with clinical build‑out; Exam rooms, private offices, and dedicated reception area; Directly across from UCHealth Memorial Hospital Central
