Loft-Style Creative
New
For Sale
$595,000
201 East Las Animas Street suite 109, Colorado Springs, CO 80903
PDZ-zoned commercial condo with a professional layout and flexible creative, office, or service-oriented use potential.
Property Size2,058 SF
Price / SF$289.12
Days on Market4
Property Features for 201 East Las Animas Street suite 109
General Information
Standard status
Active
Size
2,058 SF
Property subtype
Office
Zoning
PDZ
Additional Details
Public Transit
Yes
Building Details
Year Built
2001
Construction
loft-style
Tenancy
Single
Listing Agency:
Hoff & Leigh
(719) 337-0999
Listed By:
Holly Trinidad · License #ER.100022369
(719) 337-0999
Source:
Hoffleigh
Added: Aug 20
Changed: Aug 22
Last Checked: Aug 23 at 2:23AM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
Suite 109 is a 2,058-square-foot commercial condominium within Poet Lofts, configured for professional office use. The space combines a contemporary loft character with an organized workplace layout and may accommodate creative, professional, or service-oriented businesses. The property was built in 2001 and carries PDZ zoning.
Located in Downtown Colorado Springs, the suite is one block from the South Tejon Street corridor. Restaurants, retail, entertainment, public transportation, and major transportation routes are accessible from the property, providing an urban setting for an owner-user seeking an alternative to conventional office space.
Located in Downtown Colorado Springs, the suite is one block from the South Tejon Street corridor. Restaurants, retail, entertainment, public transportation, and major transportation routes are accessible from the property, providing an urban setting for an owner-user seeking an alternative to conventional office space.
Key Highlights
- 2,058 SF commercial condominium
- Creative space within Poet Lofts
- PDZ zoning supports the existing commercial classification
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
$20,258
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
3.40%
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%
$405,160
$405.2K
Cap Rate 7%
$289,400
$289.4K
Cap Rate 9%
$225,089
$225.1K
Market Conditions
NOI Build-Up for 2,058 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
$30.9K $15.00/SF
− Vacancy
−$3.9K −$1.88/SF
EGI
$27.0K $13.13/SF
− OpEx
−$6.8K −$3.28/SF
NOI
$20.3K $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%
$405,160
Cap Rate 7%
$289,400
Cap Rate 9%
$225,089
Alternative Uses
Best Use
Office B
$289.4K
$253.2K – $337.6K
NOI $20,258 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$406.4K
$355.6K – $474.2K
NOI $28,450 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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?
Creative space - PDZ-zoned commercial condo with a professional layout and flexible creative, office, or service-oriented use potential.
Where is this creative space located?
The property is located at 201 East Las Animas Street suite 109 Colorado Springs, CO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,058 SF commercial condominium; Creative space within Poet Lofts; PDZ zoning supports the existing commercial classification
