One-Story Live-Work
For Sale
Contact for pricing
3939 E San Miguel St, Colorado Springs, CO 80909
Office and residential improvements create a combined owner-user setting with outdoor space and on-site parking.
Property Size2,490 SF
Lot Size0.24 Acres
Price / SF$200.80
Days on Market13
Property Features for 3939 E San Miguel St
General Information
Standard status
Active
Size
2,490 SF
Total Parking Spaces
6
Lot size
0.24 Acres
Property subtype
OFFICE
Zoning
OR
Building Details
Year Built
1964
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
Yes
Abandoned
No
Listing Agency:
Colorado Foothill Properties
(719) 231-1128
Listed By:
Tyson Liese
(719) 231-1128
Source:
Moodyscre
Added: Aug 10
Changed: Aug 17
Last Checked: Aug 22 at 9:35AM
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 Colorado Foothill Properties
Investment Insights
Based on property information with market context.
Located at 3939 E San Miguel St in Colorado Springs, this one-story live-work property contains 2,490 SF on approximately 0.24 acre. Constructed in 1964, the building combines office and residential improvements and is currently occupied by the owner for both purposes. A large outdoor area and six on-site parking spaces are included.
The property carries Office Residential (OR) zoning with AO and APZ2 overlays. Its central-east Colorado Springs location provides a setting for an owner-user seeking office and residential functions within one property. The existing configuration may require renovation, and permitted uses, approvals, occupancy, condition, major systems, square footage, and parking should be independently verified.
The property carries Office Residential (OR) zoning with AO and APZ2 overlays. Its central-east Colorado Springs location provides a setting for an owner-user seeking office and residential functions within one property. The existing configuration may require renovation, and permitted uses, approvals, occupancy, condition, major systems, square footage, and parking should be independently verified.
Key Highlights
- 2,490 SF one‑story live‑work property
- Approximately 0.24‑acre site in central‑east Colorado Springs
- Office and residential improvements in one building
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
$27,788
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
5.56%
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%
$555,760
$555.8K
Cap Rate 7%
$396,971
$397.0K
Cap Rate 9%
$308,756
$308.8K
Market Conditions
NOI Build-Up for 2,490 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
$47.8K $19.20/SF
− Vacancy
−$3.3K −$1.34/SF
EGI
$44.5K $17.86/SF
− OpEx
−$16.7K −$6.70/SF
NOI
$27.8K $11.16/SF
Area
Colorado Springs, CO
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$555,760
Cap Rate 7%
$396,971
Cap Rate 9%
$308,756
Alternative Uses
Best Use
Mixed Use
$397.0K
$347.4K – $463.1K
NOI $27,788 @ 7.0% cap · market cap 5.56%
Second Best
Office B
$350.2K
$306.4K – $408.5K
NOI $24,511 @ 7.0% cap · market cap 4.90%
Theoretical Best
Specialty Retail
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 6.88%
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
1,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Office and residential improvements create a combined owner-user setting with outdoor space and on-site parking.
Where is this live-work space located?
The property is located at 3939 E San Miguel St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,490 SF one‑story live‑work property; Approximately 0.24‑acre site in central‑east Colorado Springs; Office and residential improvements in one building
