Office Building Near
For Sale
$400,000
415 E Bijou St, Colorado Springs, CO 80903
Office building near I-25 and Downtown Colorado Springs.
Property Size1,750 SF
Price / SF$228.57
Days on Market291
Property Features for 415 E Bijou St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,596
Listing Agency:
Your Castle Real Estate Inc
(303) 962-4272
Listed By:
Nate Biggs
(303) 257-6495
Source:
Exprealty
Added: Nov 25, 2025
Changed: Sep 11
Last Checked: Sep 11 at 11:16AM
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 Your Castle Real Estate Inc
Investment Insights
Based on property information with market context.
The property features an office building located near I-25, in close proximity to Downtown Colorado Springs. The site includes a primary three-story office building and a secondary, freestanding building. Signage opportunities are available along W Bijou St. The property, with a size of 3476 square feet, can be occupied by a buyer as an owner/user or converted into an investment property.
Key Highlights
- Located just off I‑25 and close to Downtown Colorado Springs.
- Two buildings on the property: a main 3‑floor office building and a secondary freestanding building.
- Signage availability along W Bijou St.
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
$17,227
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
4.31%
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%
$344,540
$344.5K
Cap Rate 7%
$246,100
$246.1K
Cap Rate 9%
$191,411
$191.4K
Market Conditions
NOI Build-Up for 1,750 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
$26.3K $15.00/SF
− Vacancy
−$3.3K −$1.88/SF
EGI
$23.0K $13.13/SF
− OpEx
−$5.7K −$3.28/SF
NOI
$17.2K $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 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%
$344,540
Cap Rate 7%
$246,100
Cap Rate 9%
$191,411
Alternative Uses
Best Use
Office B
$246.1K
$215.3K – $287.1K
NOI $17,227 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Office building - Office building near I-25 and Downtown Colorado Springs.
Where is this office building located?
The property is located at 415 E Bijou St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Located just off I‑25 and close to Downtown Colorado Springs.; Two buildings on the property: a main 3‑floor office building and a secondary freestanding building.; Signage availability along W Bijou St.
