Charming Office Building For
For Sale
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5875 Lehman Dr, Colorado Springs, CO 80918
Two-story office building with flexible lease terms and ample parking.
Property Size6,520 SF
Price / SF$184.05
Days on Market1336
Property Features for 5875 Lehman Dr
General Information
Standard status
Active
Size
6,520 SF
Property subtype
Office
Listing Agency:
Hoff & Leigh Colorado Springs
(719) 630-2277
Listed By:
Holly Trinidad · License #CO ER.100022369
Source:
Crexi
Added: Dec 5, 2022
Changed: Jul 6
Last Checked: Aug 2 at 3:10AM
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 Hoff & Leigh Colorado Springs
Investment Insights
Based on property information with market context.
The office building at 5875 Lehman Drive, constructed in 1982, offers 6,520 rentable square feet across two levels. The building is suitable for an owner/user and features multiple small tenant spaces with flexible lease terms, potentially allowing a new owner/user to occupy a significant portion of the building. The current owner occupies approximately 1,600 rentable square feet and is open to a leaseback arrangement at market rates. The property is centrally located with convenient access to Academy and Woodman, and it is near various retail establishments, including daytime shopping and restaurants. The building generates approximately $57,000 net income. One of the tenants is a medical marijuana dispensary. The building has been well-maintained, with all building systems in working order, and it provides ample parking.
Key Highlights
- Ideal for owner/user seeking office space.
- 6,520 RSF across two levels.
- Flexible lease terms allow owner/user to occupy most of the building.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.2k | $21.96 |
| − Vacancy | −$14.9k | −$2.28 |
| EGI | $128.3k | $19.68 |
| − OpEx | −$32.1k | −$4.92 |
| NOI | $96.2k | $14.76 |
6,520 SF · lease $21.96/SF/yr · vacancy 10.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $96,216 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,651 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
Explore this area
Business Placement
Demographics for 80918, CO
47,453
Population
20,447
Households
2.3
Avg Household Size
37
Median Age
38%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
3,954
Density / Sq Mi
$82,743
Median Household Income
$42,596
Median Earnings
$1,572
Median Rent
$414,400
Median Home Value
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 - Two-story office building with flexible lease terms and ample parking.
Where is this office building located?
The property is located at 5875 Lehman Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Ideal for owner/user seeking office space.; 6,520 RSF across two levels.; Flexible lease terms allow owner/user to occupy most of the building.
