Renovated Office
For Sale
Contact for pricing
2960 N Academy Dr, Colorado Springs, CO 80917
First-floor and most of the second-floor offices have been renovated with large windows and updated HVAC.
Property Size7,356 SF
Price / SF$135.26
Days on Market270
Property Features for 2960 N Academy Dr
General Information
Standard status
Active
Size
7,356 SF
Property subtype
OFFICE
Amenities
renovated restrooms
monument signage
Listing Agency:
Miramont Commercial Real Estate
(719) 229-1585
Listed By:
Timothy Agee
Source:
Moodyscre
Added: Feb 2
Changed: Oct 26
Last Checked: Oct 28 at 11:19AM
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 Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building offers renovated office space with large windows, including a first-floor suite and most of the second floor. The lower level includes furniture available to the buyer. Restrooms have been renovated throughout the building (4). HVAC units were replaced in 2024, and parking lot improvements were completed in 2025.
The second floor is fully leased, providing stable rental income. The property is positioned for prime building visibility with convenient access off a major thoroughfare, and monument signage is available along North Academy.
With both updated mechanicals and recent site improvements, this property is designed for day-to-day operational efficiency and tenant-ready presentation.
The second floor is fully leased, providing stable rental income. The property is positioned for prime building visibility with convenient access off a major thoroughfare, and monument signage is available along North Academy.
With both updated mechanicals and recent site improvements, this property is designed for day-to-day operational efficiency and tenant-ready presentation.
Key Highlights
- First‑floor suite and majority of second floor renovated with spacious offices and large windows
- Second floor fully leased, generating stable rental income
- All HVAC units replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,411
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,220
$1.4M
Cap Rate 7%
$1,034,443
$1.0M
Cap Rate 9%
$804,567
$804.6K
Market Conditions
NOI Build-Up for 7,356 SF
Gross rent
$110.3K $15.00/SF
− Vacancy
−$13.8K −$1.88/SF
EGI
$96.5K $13.13/SF
− OpEx
−$24.1K −$3.28/SF
NOI
$72.4K $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 Rate 5%
$1,448,220
Cap Rate 7%
$1,034,443
Cap Rate 9%
$804,567
Alternative Uses
Best Use
Office B
$1.03M
$905.1K – $1.21M
NOI $72,411 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,689 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
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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 building - First-floor and most of the second-floor offices have been renovated with large windows and updated HVAC.
Where is this office building located?
The property is located at 2960 N Academy Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: First‑floor suite and majority of second floor renovated with spacious offices and large windows; Second floor fully leased, generating stable rental income; All HVAC units replaced in 2024
