Bermed Flex Space with
For Sale
$425,000
500 Rampart Range Road, Woodland Park, CO 80863
Commercial, Woodland Park, CO
Property Size2,368 SF
Lot Size0.69 Acres
Price / SF$179.48
Days on Market45
Property Features for 500 Rampart Range Road
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3456
Amenities
high-speed fiber internet
Building Details
Year built
1985
Listing Agency:
Pikes Peak Homes and Land Ltd
(719) 464-5839
Listed By:
Chris Clark CRS GRI · License #100056170
(719) 464-5839
Added: Jul 17
Changed: Aug 27
Last Checked: Aug 30 at 1:06AM
MLS# 9825190
Copyright © 2026 elevateMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property comprises two separate buildings on a combined 0.69 acres at 500 Rampart Range Road in Woodland Park, Colorado. Built in 1985, the improvements use bermed construction and Trombe Wall passive solar design. Both buildings include high-speed fiber internet and dedicated office and bathroom areas, with garage-oriented layouts suited to varied commercial operations.
Building #1 measures approximately 1,408 square feet and includes 400 amp electrical service, a 23-by-31-foot garage with a 13-foot ceiling, a 12-by-12-foot garage door, 30 and 50 amp outlets, and a wash sink. Its interior also provides a 20-by-20-foot showroom, 10-by-14-foot office, bathroom, and storeroom. Building #2 contains approximately 960 square feet, 200 amp service, a 23-by-28-foot garage with 10-foot ceilings, a 10-by-9-foot garage door, and an industrial exhaust system. The building also has an office with kitchenette, refrigerator, and bathroom. The property is zoned Neighborhood Commercial and includes a south-facing parking lot with Pikes Peak views.
Building #1 measures approximately 1,408 square feet and includes 400 amp electrical service, a 23-by-31-foot garage with a 13-foot ceiling, a 12-by-12-foot garage door, 30 and 50 amp outlets, and a wash sink. Its interior also provides a 20-by-20-foot showroom, 10-by-14-foot office, bathroom, and storeroom. Building #2 contains approximately 960 square feet, 200 amp service, a 23-by-28-foot garage with 10-foot ceilings, a 10-by-9-foot garage door, and an industrial exhaust system. The building also has an office with kitchenette, refrigerator, and bathroom. The property is zoned Neighborhood Commercial and includes a south-facing parking lot with Pikes Peak views.
Key Highlights
- Two buildings on 0.69 acres with Neighborhood Commercial zoning
- Building #1: approx. 1,408 sq ft with 400 amp electric service
- Building #2: approx. 960 sq ft with 200 amp electric service
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
$31,418
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
7.39%
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%
$628,360
$628.4K
Cap Rate 7%
$448,829
$448.8K
Cap Rate 9%
$349,089
$349.1K
Market Conditions
NOI Build-Up for 2,368 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
$51.1K $21.60/SF
− Vacancy
−$2.8K −$1.19/SF
EGI
$48.3K $20.41/SF
− OpEx
−$16.9K −$7.14/SF
NOI
$31.4K $13.27/SF
Area
Teller County, CO
Vacancy
5.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$628,360
Cap Rate 7%
$448,829
Cap Rate 9%
$349,089
Alternative Uses
Best Use
Flex RnD
$448.8K
$392.7K – $523.6K
NOI $31,418 @ 7.0% cap · market cap 7.39%
Second Best
Office B
$335.7K
$293.7K – $391.6K
NOI $23,496 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$605.2K
$529.6K – $706.1K
NOI $42,367 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80863, CO
12,738
Population
5,734
Households
2.2
Avg Household Size
49
Median Age
42%
College-Educated
97%
High-School Grad
173.4 sq mi
ZIP Area
73
Density / Sq Mi
$100,011
Median Household Income
$49,333
Median Earnings
$1,960
Median Rent
$503,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property with garage, showroom, office, fiber internet, and Neighborhood Commercial zoning.
Where is this flex space located?
The property is located at 500 Rampart Range Road Woodland Park, CO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two buildings on 0.69 acres with Neighborhood Commercial zoning; Building #1: approx. 1,408 sq ft with 400 amp electric service; Building #2: approx. 960 sq ft with 200 amp electric service
