Office/Flex Condominium
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For Sale
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5082 LIST DR, Colorado Springs, CO 80919
Administrative space is paired with a warehouse area in this single-unit commercial condominium.
Property Size3,772 SF
Price / SF$198.83
Days on Market6
Property Features for 5082 LIST DR
General Information
Standard status
Active
Size
3,772 SF
Property subtype
Office, Industrial
Additional Details
Asking Price
$750,000
Clear Height
11.33 ft
Listing Agency:
Pikes Peak Dream Homes Realty
Listed By:
Tyson Liese · License #FA.100057487
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:22PM
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 Pikes Peak Dream Homes Realty
Investment Insights
Based on property information with market context.
Condominium Unit E is a 3,772-square-foot office/flex property with warehouse area, a 10' x 12' overhead door and approximately 11'4" of clear height. The offering covers this unit only, not other space in the commercial condominium complex.
The existing tenant is expected to leave in approximately 60 days. Possession follows the deed transfer and the tenant’s departure. The property is part of a common-interest community.
The existing tenant is expected to leave in approximately 60 days. Possession follows the deed transfer and the tenant’s departure. The property is part of a common-interest community.
Key Highlights
- 3,772‑square‑foot commercial condominium unit
- Office/flex configuration includes warehouse area
- 10' x 12' overhead door
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
$41,563
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
5.54%
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%
$831,260
$831.3K
Cap Rate 7%
$593,757
$593.8K
Cap Rate 9%
$461,811
$461.8K
Market Conditions
NOI Build-Up for 3,772 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 $13.56/SF
− Vacancy
−$2.3K −$0.60/SF
EGI
$48.9K $12.96/SF
− OpEx
−$7.3K −$1.94/SF
NOI
$41.6K $11.02/SF
Area
Colorado Springs, CO
Vacancy
4.40%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$831,260
Cap Rate 7%
$593,757
Cap Rate 9%
$461,811
Alternative Uses
Best Use
Warehouse
$593.8K
$519.5K – $692.7K
NOI $41,563 @ 7.0% cap · market cap 5.54%
Second Best
Flex RnD
$519.1K
$454.2K – $605.6K
NOI $36,336 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$744.9K
$651.8K – $869.1K
NOI $52,144 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11 ft
Clear height
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80919, CO
28,909
Population
12,033
Households
2.4
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
27.4 sq mi
ZIP Area
1,055
Density / Sq Mi
$116,316
Median Household Income
$60,084
Median Earnings
$1,800
Median Rent
$570,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
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Frequently Asked Questions
What type of property is this?
Flex space - Administrative space is paired with a warehouse area in this single-unit commercial condominium.
Where is this flex space located?
The property is located at 5082 LIST DR Colorado Springs, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,772‑square‑foot commercial condominium unit; Office/flex configuration includes warehouse area; 10' x 12' overhead door
