Small Office Condos For
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1965 Dominion Way, Colorado Springs, CO
Rare opportunity to purchase small office condos in Colorado Springs.
Property Size1,200 SF
Lot Size0.11 Acres
Price / SF$325
Days on Market415
Property Features for 1965 Dominion Way
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.11 Acres
Property subtype
OFFICE
Listing Agency:
Kinsey & Company Commercial Real Estate
(720) 833-4618
Listed By:
Jason F. Kinsey
(720) 280-5757
Source:
Moodyscre
Added: Jul 23, 2025
Changed: Sep 8
Last Checked: Sep 10 at 5:13AM
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 Kinsey & Company Commercial Real Estate
Investment Insights
Based on property information with market context.
These small office condos present a rare opportunity for purchase, either individually or together. One unit, located at 1965 Dominion Way, Unit 120, is vacant and immediately available for occupancy, featuring an efficient floor plan with five offices, one restroom, and a lobby. The other unit, located at 1945 Dominion Way, Unit 110, is currently leased to Mindful Minds Psychiatry until August 31, 2027, offering immediate cash flow. This unit has a functional floor plan consisting of six offices, one restroom, and a lobby. The properties are situated in a quiet, well-maintained office park conveniently located off Academy Blvd, a main thoroughfare through Colorado Springs.
Key Highlights
- Ability to occupy one unit (1965 Dominion Way, Unit 120) immediately while generating income from the other (1945 Dominion Way, Unit 110).
- Convenient location off Academy Blvd, a main thoroughfare in Colorado Springs.
- One unit (1945 Dominion Way, Unit 110) is leased to Mindful Minds Psychiatry until August 31, 2027, providing immediate cash flow.
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
$13,513
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
3.46%
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%
$270,260
$270.3K
Cap Rate 7%
$193,043
$193.0K
Cap Rate 9%
$150,144
$150.1K
Market Conditions
NOI Build-Up for 1,200 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
$24.5K $20.40/SF
− Vacancy
−$2.0K −$1.63/SF
EGI
$22.5K $18.77/SF
− OpEx
−$9.0K −$7.51/SF
NOI
$13.5K $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%
$270,260
Cap Rate 7%
$193,043
Cap Rate 9%
$150,144
Alternative Uses
Best Use
Healthcare Medical
$193.0K
$168.9K – $225.2K
NOI $13,513 @ 7.0% cap · market cap 3.46%
Second Best
Office B
$168.8K
$147.7K – $196.9K
NOI $11,813 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$237.0K
$207.4K – $276.5K
NOI $16,589 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,522
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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 - Rare opportunity to purchase small office condos in Colorado Springs.
Where is this office units located?
The property is located at 1965 Dominion Way Colorado Springs, CO.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Ability to occupy one unit (1965 Dominion Way, Unit 120) immediately while generating income from the other (1945 Dominion Way, Unit 110).; Convenient location off Academy Blvd, a main thoroughfare in Colorado Springs.; One unit (1945 Dominion Way, Unit 110) is leased to Mindful Minds Psychiatry until August 31, 2027, providing immediate cash flow.
