Ground-Level Office
New
For Sale
$295,000
1619 N Circle Drive, Colorado Springs, CO 80909
OR-zoned office property with at-grade entry and parking positioned at the front and rear.
Property Size1,196 SF
Days on Market3
Property Features for 1619 N Circle Drive
General Information
Standard status
Active
Size
1,196 SF
Property subtype
Commercial
Zoning
OR
Property Condition
Severity
Repairs Needed
Evidence
ready to be refinished
Taxes and HOA fees
Annual Taxes
$2,072
Building Details
Building Size
1,196 SF
Year Built
1955
Buildings
1
Units
1
Listing Agency:
Solid Rock Realty
(719) 232-6709
Listed By:
Colin Smith
(719) 232-6709
Source:
Coloradopartners
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:24AM
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 Solid Rock Realty
Investment Insights
Based on property information with market context.
This office building provides ground-level access and parking on both the front and rear sides of the property. Constructed in 1955, the building carries OR zoning and was previously occupied by Circle Realty.
The property is located at 1619 N Circle Drive in Colorado Springs, just north of the Palmer Park and N Circle intersection. Its position along N Circle places the building near an active commercial intersection, while the at-grade configuration supports straightforward access for occupants and visitors.
The property is located at 1619 N Circle Drive in Colorado Springs, just north of the Palmer Park and N Circle intersection. Its position along N Circle places the building near an active commercial intersection, while the at-grade configuration supports straightforward access for occupants and visitors.
Key Highlights
- OR zoning
- Ground‑level access
- Parking at the front and rear of the building
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
$11,773
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
3.99%
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%
$235,460
$235.5K
Cap Rate 7%
$168,186
$168.2K
Cap Rate 9%
$130,811
$130.8K
Market Conditions
NOI Build-Up for 1,196 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
$17.9K $15.00/SF
− Vacancy
−$2.2K −$1.88/SF
EGI
$15.7K $13.13/SF
− OpEx
−$3.9K −$3.28/SF
NOI
$11.8K $9.84/SF
Area
Colorado Springs, CO
Vacancy
12.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$235,460
Cap Rate 7%
$168,186
Cap Rate 9%
$130,811
Alternative Uses
Best Use
Office B
$168.2K
$147.2K – $196.2K
NOI $11,773 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$236.2K
$206.7K – $275.6K
NOI $16,534 @ 7.0% cap · market cap 5.60%
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
Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - OR-zoned office property with at-grade entry and parking positioned at the front and rear.
Where is this office building located?
The property is located at 1619 N Circle Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: OR zoning; Ground‑level access; Parking at the front and rear of the building
