Renovated Medical Office
New
For Sale
$2,078,000
3225 International Cir, Colorado Springs, CO 80910
Healthcare-occupied medical office property with suites that can be combined for flexible occupancy planning.
Property Size12,457 SF
Price / SF$167.01
Days on Market4
Property Features for 3225 International Cir
General Information
Standard status
Active
Size
12,457 SF
Property subtype
Office Medical
Occupancy
88%
Amenities
Located within the well-known Printers Park Medical Campus, one of Colorado Springs' recognized healthcare and medical office destinations
Approximately 87.9% occupied with stable in-place tenancy and future lease rollover opportunities
Roof replaced in 2021 with warranty in place. Renovated in 2016 and 2023
Building Details
Building Size
12,457 SF
Year Built
1999
Year Renovated
2021
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Denver
Listed By:
Erik Enstad · License #License(s): CO: FA.100089977
(303) 328-2013
Source:
Marcusmillichap
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 7:34AM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
This 12,442-square-foot medical office property has undergone renovations in 2016 and 2021. The building is occupied by multiple healthcare tenants and includes approximately 12% vacancy, with available suites that may be combined. A Verizon rooftop lease adds another established property component.
The property is part of Printers Park Medical Campus in Colorado Springs, near Memorial Hospital, Downtown Colorado Springs, and the Colorado Springs Airport. Mountain views and on-site parking are also noted. The existing tenant mix and configurable suite layout support both continued medical office use and an owner-user occupancy strategy.
The property is part of Printers Park Medical Campus in Colorado Springs, near Memorial Hospital, Downtown Colorado Springs, and the Colorado Springs Airport. Mountain views and on-site parking are also noted. The existing tenant mix and configurable suite layout support both continued medical office use and an owner-user occupancy strategy.
Key Highlights
- 12,442‑square‑foot medical office property
- Renovations completed in 2016 and 2021
- Approximately 12% vacancy with combinable available suites
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
$140,107
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
6.74%
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%
$2,802,140
$2.8M
Cap Rate 7%
$2,001,529
$2.0M
Cap Rate 9%
$1,556,744
$1.6M
Market Conditions
NOI Build-Up for 12,442 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
$253.8K $20.40/SF
− Vacancy
−$20.3K −$1.63/SF
EGI
$233.5K $18.77/SF
− OpEx
−$93.4K −$7.51/SF
NOI
$140.1K $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%
$2,802,140
Cap Rate 7%
$2,001,529
Cap Rate 9%
$1,556,744
Alternative Uses
Best Use
Healthcare Medical
$2.00M
$1.75M – $2.34M
NOI $140,107 @ 7.0% cap · market cap 6.74%
Second Best
Office B
$1.75M
$1.53M – $2.04M
NOI $122,476 @ 7.0% cap · market cap 5.89%
Theoretical Best
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $171,998 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
88%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare-occupied medical office property with suites that can be combined for flexible occupancy planning.
Where is this medical office space located?
The property is located at 3225 International Cir Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,078,000.
What are key features of this property?
This property features: 12,442‑square‑foot medical office property; Renovations completed in 2016 and 2021; Approximately 12% vacancy with combinable available suites
