Medical Office
New
For Sale
$595,000
1396 S 21st St, Colorado Springs, CO 80906
Built in 2004, the building carries LI/CR MX-M zoning.
Property Size2,000 SF
Price / SF$297.50
Days on Market3
Property Features for 1396 S 21st St
General Information
Standard status
Active
Size
2,000 SF
Class
B
Property subtype
Office
Zoning
LI/CR MX-M
Site & Location
Neighborhood
Midland
Additional Details
Property Use
Medical Office
Building Details
Building Size
2,000 SF
Year Built
2004
Buildings
1
Listed By:
Tim Agee
(719) 200-2735
Source:
Miramontcre
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 2:10PM
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 Tim Agee
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Investment Insights
Based on property information with market context.
This 2,000-square-foot medical office building was constructed in 2004 and has LI/CR MX-M zoning. Its prior use was as an audiology clinic, and the property is located at 1396 S 21st St in Colorado Springs.
The site sits across from a new housing development, in the foothills near the Broadmoor.
The site sits across from a new housing development, in the foothills near the Broadmoor.
Key Highlights
- 2,000‑square‑foot medical office building
- Constructed in 2004
- LI/CR MX‑M zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,197
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,940
$423.9K
Cap Rate 7%
$302,814
$302.8K
Cap Rate 9%
$235,522
$235.5K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$38.4K $19.20/SF
− Vacancy
−$3.1K −$1.54/SF
EGI
$35.3K $17.66/SF
− OpEx
−$14.1K −$7.07/SF
NOI
$21.2K $10.60/SF
Area
ZIP 80906
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,940
Cap Rate 7%
$302,814
Cap Rate 9%
$235,522
Alternative Uses
Best Use
Healthcare Medical
$302.8K
$265.0K – $353.3K
NOI $21,197 @ 7.0% cap · market cap 3.56%
Second Best
Office B
$283.5K
$248.1K – $330.8K
NOI $19,845 @ 7.0% cap · market cap 3.34%
Theoretical Best
Multifamily LT 5
$378.2K
$330.9K – $441.2K
NOI $26,473 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80906, CO
39,019
Population
16,771
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
856
Density / Sq Mi
$88,047
Median Household Income
$47,314
Median Earnings
$1,634
Median Rent
$543,400
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
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- Westside Animal Hospital — 1603 W Colorado Ave, Colorado Springs, CO 80904
- Johnson Rex DVM — 1603 W Colorado Ave, Colorado Springs, CO 80904
- Dye Roman DVM — 1603 W Colorado Ave, Colorado Springs, CO 80904
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2004, the building carries LI/CR MX-M zoning.
Where is this medical office space located?
The property is located at 1396 S 21st St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,000‑square‑foot medical office building; Constructed in 2004; LI/CR MX‑M zoning
