Office Building Near
For Sale
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415 W Bijou St, Colorado Springs, CO
Office building near I-25 and Downtown Colorado Springs.
Property Size3,476 SF
Lot Size0.22 Acres
Price / SF$179.80
Days on Market566
Property Features for 415 W Bijou St
General Information
Standard status
Active
Size
3,476 SF
Lot size
0.22 Acres
Property subtype
OFFICE
Listing Agency:
Kinsey & Company Commercial Real Estate
(720) 833-4618
Listed By:
Jason F. Kinsey
(720) 280-5757
Source:
Moodyscre
Added: Feb 18, 2025
Changed: Aug 22
Last Checked: Sep 6 at 5:16PM
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 Kinsey & Company Commercial Real Estate
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
$34,217
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
5.47%
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%
$684,340
$684.3K
Cap Rate 7%
$488,814
$488.8K
Cap Rate 9%
$380,189
$380.2K
Market Conditions
NOI Build-Up for 3,476 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
$52.1K $15.00/SF
− Vacancy
−$6.5K −$1.88/SF
EGI
$45.6K $13.13/SF
− OpEx
−$11.4K −$3.28/SF
NOI
$34.2K $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%
$684,340
Cap Rate 7%
$488,814
Cap Rate 9%
$380,189
Alternative Uses
Best Use
Office B
$488.8K
$427.7K – $570.3K
NOI $34,217 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$686.5K
$600.7K – $800.9K
NOI $48,052 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,631
Businesses Nearby
Explore this area
Business Placement
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 W Bijou St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $625,000.
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.
