Office Condo Space with Renovated Common
For Sale
Contact for pricing
1685 Briargate Blvd, Colorado Springs, CO 80920
Office condo space with recently renovated common areas, close to I-25, with excellent parking for staff and visitors.
Property Size1,744 SF
Price / SF$334.14
Days on Market826
Property Features for 1685 Briargate Blvd
General Information
Standard status
Active
Size
1,744 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
KCRE Advisors
(719) 309-3900
Listed By:
Greg Kaufman · License #FA.040021138
(719) 229-8041
Source:
Moodyscre
Added: Jun 12, 2024
Changed: Sep 12
Last Checked: Sep 14 at 11:35AM
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 KCRE Advisors
Investment Insights
Based on property information with market context.
Office condo space available at 1685 Briargate Blvd in Colorado Springs. The property comprises 1,744 square feet of office space, and features recently renovated common areas.
The location provides close proximity to I-25, supporting convenient access for employees and clients. The property also offers excellent parking, which can help streamline day-to-day operations.
This space is well suited for businesses seeking a compact office footprint within a dedicated condo setting, with upgraded shared areas and practical access to major roadway connectivity.
The location provides close proximity to I-25, supporting convenient access for employees and clients. The property also offers excellent parking, which can help streamline day-to-day operations.
This space is well suited for businesses seeking a compact office footprint within a dedicated condo setting, with upgraded shared areas and practical access to major roadway connectivity.
Key Highlights
- 1,744 SF office condo space
- Recently renovated common areas
- Close proximity to I‑25
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
$17,305
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
2.97%
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%
$346,100
$346.1K
Cap Rate 7%
$247,214
$247.2K
Cap Rate 9%
$192,278
$192.3K
Market Conditions
NOI Build-Up for 1,744 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
$26.4K $15.12/SF
− Vacancy
−$3.3K −$1.89/SF
EGI
$23.1K $13.23/SF
− OpEx
−$5.8K −$3.31/SF
NOI
$17.3K $9.92/SF
Area
ZIP 80920
Vacancy
12.50%
Lease Rate
$15.12 /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%
$346,100
Cap Rate 7%
$247,214
Cap Rate 9%
$192,278
Alternative Uses
Best Use
Office B
$247.2K
$216.3K – $288.4K
NOI $17,305 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$398.2K
$348.5K – $464.6K
NOI $27,876 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 80920, CO
39,540
Population
14,631
Households
2.7
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
3,189
Density / Sq Mi
$111,233
Median Household Income
$50,927
Median Earnings
$1,955
Median Rent
$484,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Office units - Office condo space with recently renovated common areas, close to I-25, with excellent parking for staff and visitors.
Where is this office units located?
The property is located at 1685 Briargate Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $582,740.
What are key features of this property?
This property features: 1,744 SF office condo space; Recently renovated common areas; Close proximity to I‑25
