Office Condominium with
New
For Sale
$450,000
802 Cheyenne Boulevard Unit 100, Colorado Springs, CO 80905
The suite combines multiple work areas with a fenced outdoor space.
Property Size1,626 SF
Price / SF$276.75
Days on Market2
Property Features for 802 Cheyenne Boulevard Unit 100
General Information
Standard status
Active
Size
1,626 SF
Class
C
Property subtype
Office
Zoning
OR
Site & Location
Neighborhood
Lower Skyway
Road Access
Yes
Additional Details
Office Units
1
Property Use
Office
Amenities
fireplace
fenced yard with patio
Building Details
Building Size
1,626 SF
Year Built
1909
Year Renovated
2014
Listing Agency:
Miramont Commercial Real Estate
Listed By:
Simon Penner
(719) 229-1585
Source:
Miramontcre
Added: Oct 23
Last Checked: Oct 23 at 5:26PM
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 Miramont Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,626-square-foot office condominium has a reception area, one large office, two smaller partitioned offices, and additional work areas. A kitchen and a restroom with shower are also included. The large office features a fireplace, and a fenced yard with a patio extends the usable space outdoors.
Built in 1909, the property was renovated in 2014, when a new roof was installed. It is zoned OR and is located at the corner of Cheyenne Boulevard and 8th Street.
Built in 1909, the property was renovated in 2014, when a new roof was installed. It is zoned OR and is located at the corner of Cheyenne Boulevard and 8th Street.
Key Highlights
- 1,626 SF office condominium
- Reception area, one large office, two partitioned offices, and additional work areas
- Kitchen and restroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,006
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,120
$320.1K
Cap Rate 7%
$228,657
$228.7K
Cap Rate 9%
$177,844
$177.8K
Market Conditions
NOI Build-Up for 1,626 SF
Gross rent
$24.4K $15.00/SF
− Vacancy
−$3.0K −$1.88/SF
EGI
$21.3K $13.13/SF
− OpEx
−$5.3K −$3.28/SF
NOI
$16.0K $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 Rate 5%
$320,120
Cap Rate 7%
$228,657
Cap Rate 9%
$177,844
Alternative Uses
Best Use
Office B
$228.7K
$200.1K – $266.8K
NOI $16,006 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 80905, CO
17,592
Population
8,933
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
92%
High-School Grad
5.1 sq mi
ZIP Area
3,449
Density / Sq Mi
$64,496
Median Household Income
$40,876
Median Earnings
$1,449
Median Rent
$349,500
Median Home Value
Market
Vacancy Rate% for Office in Colorado Springs, CO
Frequently Asked Questions
What type of property is this?
Office unit - The suite combines multiple work areas with a fenced outdoor space.
Where is this office unit located?
The property is located at 802 Cheyenne Boulevard Unit 100 Colorado Springs, CO.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,626 SF office condominium; Reception area, one large office, two partitioned offices, and additional work areas; Kitchen and restroom with shower
