Multifunctional Property Near Citadel
For Sale
$1,699,000
2850 W Serendipity Circle, Colorado Springs, CO 80917
Adaptable units suitable for clinics, offices, or schools.
Property Size9,552 SF
Price / SF$177.87
Days on Market505
Property Features for 2850 W Serendipity Circle
General Information
Standard status
Active
Size
9,552 SF
Taxes and HOA fees
Annual Taxes
$13,598
Building Details
Year Built
1974
Listing Agency:
RE/MAX PROFESSIONALS
Listed By:
LINDA TRAN
(303) 985-4555
Source:
Corcoran
Added: May 30, 2025
Changed: Mar 16
Last Checked: Apr 24 at 7:54AM
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 RE/MAX PROFESSIONALS
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Investment Insights
Based on property information with market context.
This property features a total of eight units, each offering a variety of room configurations, ranging from single rooms to units with eight rooms plus a kitchen. These units can be customized to accommodate various uses, including clinics, office spaces, and school spaces. The property benefits from a convenient location with easy access to the highway. It is situated just minutes away from the Citadel Mall and local grocery stores. Located off Academy Boulevard, the property occupies a large and multifunctional lot with a total size of 9552 square feet.
Key Highlights
- Multifunctional lot suitable for clinics, offices, schools, etc.
- Eight customizable units ranging from 1 to 8 rooms + kitchen.
- Convenient location off Academy Blvd.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,563
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,151,260
$2.2M
Cap Rate 7%
$1,536,614
$1.5M
Cap Rate 9%
$1,195,144
$1.2M
Market Conditions
NOI Build-Up for 9,552 SF
Gross rent
$194.9K $20.40/SF
− Vacancy
−$15.6K −$1.63/SF
EGI
$179.3K $18.77/SF
− OpEx
−$71.7K −$7.51/SF
NOI
$107.6K $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 Rate 5%
$2,151,260
Cap Rate 7%
$1,536,614
Cap Rate 9%
$1,195,144
Alternative Uses
Best Use
Healthcare Medical
$1.54M
$1.34M – $1.79M
NOI $107,563 @ 7.0% cap · market cap 6.33%
Second Best
Office B
$1.34M
$1.18M – $1.57M
NOI $94,028 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $132,047 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 80917, CO
30,513
Population
13,656
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
94%
High-School Grad
5.6 sq mi
ZIP Area
5,449
Density / Sq Mi
$72,805
Median Household Income
$39,973
Median Earnings
$1,435
Median Rent
$353,100
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
Frequently Asked Questions
What type of property is this?
Office units - Adaptable units suitable for clinics, offices, or schools.
Where is this office units located?
The property is located at 2850 W Serendipity Circle Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Multifunctional lot suitable for clinics, offices, schools, etc.; Eight customizable units ranging from 1 to 8 rooms + kitchen.; Convenient location off Academy Blvd.
