Single-Tenant Medical
1541 South 8th Street, Colorado Springs, CO 80905
For Sale
Contact for pricing
A triple-net lease places responsibility for property operating costs with the tenant.
Property Size3,250 SF
Price / SF$295.94
Days on Market46
Property Features for 1541 South 8th Street
General Information
Standard status
Size
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Road Access
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Christopher Biuso · License FL SL3424071
(407) 557-3841
Source:
Crexi
Added: Sep 25
Changed: Nov 9
Last Checked: Nov 9 at 2:07PM
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 - Orlando
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,250-square-foot medical office has been operated by Archdale Eyecare since 2000. The property is occupied by a single tenant under a triple-net lease, with the tenant responsible for real estate taxes, insurance, utilities, maintenance, repairs, and operating expenses. The lease provides for 2% annual rent increases and includes one remaining five-year renewal option, with the potential for more than 9.5 years of total lease term.
The property fronts 8th Street, where traffic exceeds 12,000 vehicles per day, and lies 3.6 miles from Downtown Colorado Springs. The surrounding trade area has an average household income of $95,736 within 3 miles; the 6-mile population is 247,093, and the metro population exceeds 750,000.
The property fronts 8th Street, where traffic exceeds 12,000 vehicles per day, and lies 3.6 miles from Downtown Colorado Springs. The surrounding trade area has an average household income of $95,736 within 3 miles; the 6-mile population is 247,093, and the metro population exceeds 750,000.
Key Highlights
- 3,250‑square‑foot medical office property
- Single‑tenant triple‑net lease
- 2% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,598
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
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
$349,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Medical Office Space in Colorado Springs, CO
Properties on Market for Medical Office Space in Colorado Springs
Vacancy Rate% for Office in Colorado Springs, CO
Similar Off Market Nearby
- Shufflebarger Erin DVM — 1718 s 8th st, colorado springs, co 80905
- Aspenwood Veterinary Hospital — 1718 S 8th St, Colorado Springs, CO 80905
- pet boarding — Colorado Springs, CO 80905
- Cheyenne Mountain Animal Hospital — 1718 S 8th St, Colorado Springs, CO 80905
- Bear Creek Veterinary Care — 960 Pico Point, Colorado Springs, CO 80905
Frequently Asked Questions
What type of property is this?
Medical Office Space - A triple-net lease places responsibility for property operating costs with the tenant.
Where is this medical office space located?
The property is located at 1541 South 8th Street 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 property; Single‑tenant triple‑net lease; 2% annual rent increases
