Standalone Medical Office
For Sale
Contact for pricing
3225 W Carefree Cir, Colorado Springs, CO 80917
MX-N-zoned professional suite with dental infrastructure, dedicated signage, and adaptable office potential.
Property Size2,275 SF
Price / SF$296.70
Days on Market156
Property Features for 3225 W Carefree Cir
General Information
Standard status
Active
Size
2,275 SF
Class
B
Property subtype
Office
Zoning
MX-N
Investment Type
Owner/User
Building Details
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
Healthcare & Business Realty
Listed By:
Roger Hernandez · License #CO ER.100005845
(719) 339-9007
Source:
Crexi
Added: Apr 1
Changed: Sep 2
Last Checked: Sep 2 at 3:21PM
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 Healthcare & Business Realty
Investment Insights
Based on property information with market context.
This standalone office condo is configured as a former dental suite with 7 operatories, a reception area, waiting room, private offices, laboratory, sterile room, and substantial storage. A crawl space beneath the building provides access for future plumbing, electrical, or data-line work. The space can support a dental practice or other professional, medical, therapy, legal, accounting, mortgage, or insurance office use, subject to applicable requirements.
The property fronts West Carefree Circle and includes dedicated signage on the building and within the development. North Academy Boulevard, Austin Bluffs Parkway, and Powers Boulevard provide access from multiple directions. I-25 and Garden of the Gods Road are approximately 5–7 minutes away, while Downtown Colorado Springs is about 15 minutes away. MX-N zoning permits professional, office, institutional, and low-intensity commercial uses.
The property fronts West Carefree Circle and includes dedicated signage on the building and within the development. North Academy Boulevard, Austin Bluffs Parkway, and Powers Boulevard provide access from multiple directions. I-25 and Garden of the Gods Road are approximately 5–7 minutes away, while Downtown Colorado Springs is about 15 minutes away. MX-N zoning permits professional, office, institutional, and low-intensity commercial uses.
Key Highlights
- Former dental suite with 7 operatories, reception, waiting room, private offices, lab, sterile room, and storage
- Standalone office condo with dedicated building and development signage
- Crawl space supports future plumbing, electrical, or data‑line installation
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
$25,618
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
3.80%
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%
$512,360
$512.4K
Cap Rate 7%
$365,971
$366.0K
Cap Rate 9%
$284,644
$284.6K
Market Conditions
NOI Build-Up for 2,275 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
$46.4K $20.40/SF
− Vacancy
−$3.7K −$1.63/SF
EGI
$42.7K $18.77/SF
− OpEx
−$17.1K −$7.51/SF
NOI
$25.6K $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%
$512,360
Cap Rate 7%
$365,971
Cap Rate 9%
$284,644
Alternative Uses
Best Use
Healthcare Medical
$366.0K
$320.2K – $427.0K
NOI $25,618 @ 7.0% cap · market cap 3.80%
Second Best
Office B
$319.9K
$279.9K – $373.3K
NOI $22,395 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$449.3K
$393.1K – $524.2K
NOI $31,450 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,420
Businesses Nearby
Under-served
Demand for This Use
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
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?
Medical Office Space - MX-N-zoned professional suite with dental infrastructure, dedicated signage, and adaptable office potential.
Where is this medical office space located?
The property is located at 3225 W Carefree Cir 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: Former dental suite with 7 operatories, reception, waiting room, private offices, lab, sterile room, and storage; Standalone office condo with dedicated building and development signage; Crawl space supports future plumbing, electrical, or data‑line installation
