Single-Tenant Medical
For Sale
$961,815
1541 S 8th St, Colorado Springs, CO 80905
A purpose-built medical office occupied by one tenant under an NNN lease structure.
Property Size3,250 SF
Price / SF$295.94
Days on Market8
Property Features for 1541 S 8th St
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Office Medical
Occupancy
100%
Additional Details
Cap Rate
7%
Amenities
Triple Net Lease Structure - 100% of real estate taxes, insurance, utilities, maintenance, repairs, and Operating Expenses Including eligible amortized capital costs
Attractive Private Equity Backing - Tenant was acquired by Keplr Vision (300+ Location Optometry MSO) - Keplr is backed by Imperial Capital
2% Annual Rent Escalations - Built-in 2% annual rent increases throughout the primary term - FMR Rent survey can increase rental rate in option
Purpose Built Facility - Purpose built for Archdale Eye Care - Continuously operated since 2000
One (5) Year Renewal Option Remaining - Tenant holds one more five-year renewal options - Providing potential for over 9.5 years of total lease term
Highly Populated Immediate Area - 3-mile population size of 66,557 residents - 6-mile population of 247,000 residents
Building Details
Building Size
3,250 SF
Year Built
2000
Tenancy
Single
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Adam Lewis · License #License(s) CO: ER100091205
(303) 328-2000
Source:
Marcusmillichap
Added: Sep 28
Last Checked: Oct 4 at 6:18AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This 3,250-square-foot medical office at 1541 S 8th St in Colorado Springs, Colorado, was built in 2000 and is configured for a single tenant. The property is offered for sale with an NNN lease structure.
Its address is 1541 S 8th St, Colorado Springs, CO 80905.
Its address is 1541 S 8th St, Colorado Springs, CO 80905.
Key Highlights
- 3,250‑square‑foot medical office
- Built in 2000
- Single‑tenant NNN property
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
$36,598
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
3.81%
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%
$731,960
$732.0K
Cap Rate 7%
$522,829
$522.8K
Cap Rate 9%
$406,644
$406.6K
Market Conditions
NOI Build-Up for 3,250 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
$66.3K $20.40/SF
− Vacancy
−$5.3K −$1.63/SF
EGI
$61.0K $18.77/SF
− OpEx
−$24.4K −$7.51/SF
NOI
$36.6K $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%
$731,960
Cap Rate 7%
$522,829
Cap Rate 9%
$406,644
Alternative Uses
Best Use
Healthcare Medical
$522.8K
$457.5K – $610.0K
NOI $36,598 @ 7.0% cap · market cap 3.81%
Second Best
Office B
$457.0K
$399.9K – $533.2K
NOI $31,992 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$641.8K
$561.6K – $748.8K
NOI $44,928 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80905, CO
17,592
Population
8,933
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
3,449
Density / Sq Mi
$64,496
Median Household Income
$40,876
Median Earnings
$1,449
Median Rent
$349,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A purpose-built medical office occupied by one tenant under an NNN lease structure.
Where is this medical office space located?
The property is located at 1541 S 8th St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $961,815.
What are key features of this property?
This property features: 3,250‑square‑foot medical office; Built in 2000; Single‑tenant NNN property
