Purpose-Built Veterinary Medical
New
For Sale
$500,000
1607 Circle Drive, Colorado Springs, CO 80909
Established small-animal facility with surgical, treatment, reception, office, kennel, and storage areas.
Property Size1,798 SF
Lot Size0.14 Acres
Price / SF$278.09
Days on Market5
Property Features for 1607 Circle Drive
General Information
Standard status
Active
Size
1,798 SF
Total Parking Spaces
12
Lot size
0.14 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,010
Amenities
Composition
Corner Lot.
14 Parking Spaces. Asphalt.
Corner, Paved Road.
Building Details
Year Built
1955
Listing Agency:
Berkshire Hathaway HomeServices Rocky Mountain, REALTORS
(970) 226-5511
Listed By:
Sheila Fitzpatrick
(970) 977-1044
Source:
Xome
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 8:54PM
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 Berkshire Hathaway HomeServices Rocky Mountain, REALTORS
Investment Insights
Based on property information with market context.
This purpose-built veterinary medical center at 1607 Circle Drive includes four exam rooms, a dedicated surgical suite, treatment and wet dentistry areas, reception, offices, a staff room, kennels, and storage. Veterinary-specific infrastructure, existing equipment, and related improvements support continued animal-care operations. The facility was built in 1955 and occupies a 6,000 SF corner lot with asphalt parking and paved-road access.
The property is positioned along a major north-south corridor in Colorado Springs, with visibility and access surrounded by established businesses and residential neighborhoods. Its central setting and existing veterinary configuration distinguish it from conventional commercial space requiring conversion.
The property is positioned along a major north-south corridor in Colorado Springs, with visibility and access surrounded by established businesses and residential neighborhoods. Its central setting and existing veterinary configuration distinguish it from conventional commercial space requiring conversion.
Key Highlights
- Purpose‑built small‑animal veterinary hospital with veterinary‑specific infrastructure
- 4 exam rooms and a dedicated surgical suite
- Treatment area and wet dentistry space
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
$20,247
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
4.05%
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%
$404,940
$404.9K
Cap Rate 7%
$289,243
$289.2K
Cap Rate 9%
$224,967
$225.0K
Market Conditions
NOI Build-Up for 1,798 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
$36.7K $20.40/SF
− Vacancy
−$2.9K −$1.63/SF
EGI
$33.7K $18.77/SF
− OpEx
−$13.5K −$7.51/SF
NOI
$20.2K $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%
$404,940
Cap Rate 7%
$289,243
Cap Rate 9%
$224,967
Alternative Uses
Best Use
Healthcare Medical
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$355.1K
$310.7K – $414.3K
NOI $24,856 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Established small-animal facility with surgical, treatment, reception, office, kennel, and storage areas.
Where is this medical center located?
The property is located at 1607 Circle Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Purpose‑built small‑animal veterinary hospital with veterinary‑specific infrastructure; 4 exam rooms and a dedicated surgical suite; Treatment area and wet dentistry space
