Charming Office Building For
For Sale
$1,200,000
5875 Lehman Drive, 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 Market1432
Property Features for 5875 Lehman Drive
General Information
Standard status
Active
Size
6,520 SF
Property subtype
Office
Zoning
PBC
Site & Location
Neighborhood
Vista Grande
Building Details
Building Size
6,520 SF
Listing Agency:
Hoff & Leigh
(719) 630-2277
Listed By:
Holly Trinidad · License #ER.100022369
(719) 337-0999
Source:
Hoffleigh
Added: Dec 2, 2022
Changed: Oct 25
Last Checked: Nov 1 at 2:13AM
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
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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.
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
Estimated NOI and Cap Rate
NOI / Yr
$96,216
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,924,320
$1.9M
Cap Rate 7%
$1,374,514
$1.4M
Cap Rate 9%
$1,069,067
$1.1M
Market Conditions
NOI Build-Up for 6,520 SF
Gross rent
$143.2K $21.96/SF
− Vacancy
−$14.9K −$2.28/SF
EGI
$128.3K $19.68/SF
− OpEx
−$32.1K −$4.92/SF
NOI
$96.2K $14.76/SF
Area
ZIP 80918
Vacancy
10.40%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,924,320
Cap Rate 7%
$1,374,514
Cap Rate 9%
$1,069,067
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,687
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Colorado Springs, CO
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 Drive 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.
