Four-Unit
For Sale
Contact for pricing
1447 NOKOMIS DR, Colorado Springs, CO 80915
Each residence includes two bedrooms, one full bathroom, and a functional floor plan.
Property Size3,106 SF
Price / SF$217.32
Days on Market92
Property Features for 1447 NOKOMIS DR
General Information
Standard status
Active
Size
3,106 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
RM-30 CAD-O
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1972
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Denver, Colorado
(719) 238-9074
Listed By:
Lee Wagner · License #CO 100084704
Source:
Crexi
Added: Jun 1
Changed: Aug 29
Last Checked: Jun 5 at 5:48AM
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 - Denver, Colorado
Investment Insights
Based on property information with market context.
This fourplex contains 3,106 square feet arranged as four two-bedroom residences, each with one full bathroom. The property dates to 1972 and includes 8 bedrooms and 4 bathrooms overall. Upper-level homes have mountain views, while sitting areas near the front entry add shared amenity space. The units receive natural light and are organized around practical layouts.
Located just off the Powers corridor in Colorado Springs, the property provides access to employers, shopping, dining, schools, and daily services. Eight parking spaces are positioned behind the building, with additional street parking available at the front. Walk Score is 37, Bike Score is 23, and Transit Score is 25.
Located just off the Powers corridor in Colorado Springs, the property provides access to employers, shopping, dining, schools, and daily services. Eight parking spaces are positioned behind the building, with additional street parking available at the front. Walk Score is 37, Bike Score is 23, and Transit Score is 25.
Key Highlights
- Four‑unit property with 3,106 square feet
- Each unit has 2 bedrooms and 1 full bathroom
- Property includes 8 bedrooms and 4 bathrooms overall
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
$40,681
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
6.03%
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%
$813,620
$813.6K
Cap Rate 7%
$581,157
$581.2K
Cap Rate 9%
$452,011
$452.0K
Market Conditions
NOI Build-Up for 3,106 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
$61.5K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$58.1K $18.71/SF
− OpEx
−$17.4K −$5.61/SF
NOI
$40.7K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$813,620
Cap Rate 7%
$581,157
Cap Rate 9%
$452,011
Alternative Uses
Best Use
Multifamily LT 5
$581.2K
$508.5K – $678.0K
NOI $40,681 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$538.6K
$471.3K – $628.4K
NOI $37,701 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$613.4K
$536.7K – $715.6K
NOI $42,937 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 80915, CO
22,548
Population
9,434
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
94%
High-School Grad
7.9 sq mi
ZIP Area
2,854
Density / Sq Mi
$67,761
Median Household Income
$38,968
Median Earnings
$1,424
Median Rent
$328,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence includes two bedrooms, one full bathroom, and a functional floor plan.
Where is this quadplex located?
The property is located at 1447 NOKOMIS DR Colorado Springs, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four‑unit property with 3,106 square feet; Each unit has 2 bedrooms and 1 full bathroom; Property includes 8 bedrooms and 4 bathrooms overall
