Corner-Unit Office
For Sale
$675,000
201 E Las Animas St, Colorado Springs, CO 80903
Corner-unit office condo with high-visibility frontage, abundant natural light, and an upper-level open space with outdoor balcony.
Property Size2,805 SF
Price / SF$240.64
Days on Market73
Property Features for 201 E Las Animas St
General Information
Standard status
Active
Size
2,805 SF
Class
C
Property subtype
Office
Amenities
exterior outdoor balcony
Building Details
Building Size
2,805 SF
Year Built
2001
Listing Agency:
Miramont Commercial
Listed By:
Simon Penner
(719) 229-1585
Source:
Miramontcre
Added: Jun 25
Changed: Sep 4
Last Checked: Sep 5 at 4:17AM
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 Miramont Commercial
Investment Insights
Based on property information with market context.
This corner-unit commercial office condo, Suite 101, is located on the edge of Downtown Colorado Springs in a building constructed in 2001. The suite offers abundant natural light, a prominent entry, and a distinctive upper-level open space that extends to an exterior outdoor balcony.
The property is set within a dense downtown environment with dining, retail, and entertainment nearby. It is also close to the Colorado Springs Pioneers Museum and America the Beautiful Park, with convenient access to the Colorado Springs Fine Arts Center and Tejon Street.
With a thoughtful layout and elevated finishes, Suite 101 is positioned for professional office use and other office-appropriate concepts, including creative studios or medical/dental uses.
The property is set within a dense downtown environment with dining, retail, and entertainment nearby. It is also close to the Colorado Springs Pioneers Museum and America the Beautiful Park, with convenient access to the Colorado Springs Fine Arts Center and Tejon Street.
With a thoughtful layout and elevated finishes, Suite 101 is positioned for professional office use and other office-appropriate concepts, including creative studios or medical/dental uses.
Key Highlights
- Corner‑unit commercial office condo at 201 E Las Animas, Suite 101, on the edge of Downtown Colorado Springs
- 2,805 SF suite in a 35,224 SF building built in 2001
- High‑visibility street frontage with abundant natural light
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
$31,587
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
4.68%
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%
$631,740
$631.7K
Cap Rate 7%
$451,243
$451.2K
Cap Rate 9%
$350,967
$351.0K
Market Conditions
NOI Build-Up for 2,805 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
$57.2K $20.40/SF
− Vacancy
−$4.6K −$1.63/SF
EGI
$52.6K $18.77/SF
− OpEx
−$21.1K −$7.51/SF
NOI
$31.6K $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 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%
$631,740
Cap Rate 7%
$451,243
Cap Rate 9%
$350,967
Alternative Uses
Best Use
Healthcare Medical
$451.2K
$394.8K – $526.5K
NOI $31,587 @ 7.0% cap · market cap 4.68%
Second Best
Office B
$394.5K
$345.2K – $460.2K
NOI $27,612 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$553.9K
$484.7K – $646.3K
NOI $38,776 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner-unit office condo with high-visibility frontage, abundant natural light, and an upper-level open space with outdoor balcony.
Where is this office units located?
The property is located at 201 E Las Animas St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Corner‑unit commercial office condo at 201 E Las Animas, Suite 101, on the edge of Downtown Colorado Springs; 2,805 SF suite in a 35,224 SF building built in 2001; High‑visibility street frontage with abundant natural light
