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    715 Cascade Ave Colorado Springs, CO 80903

    Sponsored
    For Sale
    $695,000

    Prime Medical Office, 3,909 SF, $695,000

    Property size:
    3,909 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional medical office building, located at 715 N Cascade Ave in Colorado Springs, Colorado, presents a unique investment opportunity. The property boasts 3,909 square feet of well-designed space, perfect for a variety of medical practices. Built in 1959, this single-story, Class C building sits on a 0.22-acre lot and is zoned SU. The thoughtfully planned layout includes multiple examination rooms, private offices, and a spacious reception area, ensuring efficient workflow and patient comfort. The building's prime location along N Cascade Avenue offers excellent street frontage and high visibility, attracting significant foot traffic. Ample parking is available both in front of the building along Cascade Avenue (unmetered) and in a designated rear parking area. The asking price is $695,000, translating to $177.79 per square foot. This property represents a strong investment in a thriving Colorado Springs market. The address is easily accessible and benefits from its proximity to downtown Colorado Springs. The building's single-story design and existing infrastructure offer immediate occupancy potential, minimizing upfront renovation costs. This is an excellent opportunity to acquire a well-positioned medical office building in a desirable location. The 80903 zip code ensures convenient access to local amenities and a strong patient base.

    Property Features for 715 Cascade Ave

    General Information

    Property type
    Medical offices
    Square Feet
    3,909 SF
    Class
    C
    Lot Size
    9,583 SF

    Building Details

    Year Built
    1959
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Stephen Swiatek
    Stephen Swiatek

    Learn more

    Property Insight Report

    HighLights

    • $695,000 asking price for this 3,909 SF medical office building.
    • Located at 715 N Cascade Ave, Colorado Springs, CO 80903.
    • Class C, single‑story building built in 1959 on a 0.22‑acre lot.
    • Features multiple exam rooms, private offices, and a large reception area.
    • Excellent street visibility and ample parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Christoff Anthony DO Family Practice Physician Colleen Rose Nurse Practitioner Susan Mcmaster Family Practice Physician

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Law Firm Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.8243368
    Latitude
    38.8444418

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office, 3,909 SF, $695,000
    Where is this medical office located?
    The property is located at 715 Cascade Ave Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: $695,000 asking price for this 3,909 SF medical office building.; Located at 715 N Cascade Ave, Colorado Springs, CO 80903.; Class C, single-story building built in 1959 on a 0.22-acre lot.
    Request Owner's contact information
    715 Cascade Ave Colorado Springs, CO 80903
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    Colorado Springs, CO 80903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    715 Cascade Ave Colorado Springs, CO 80903
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    We can help!
    Listing Contact
    Stephen Swiatek
    Stephen Swiatek
    Real Estate License ID: CO-100087058
    Learn more
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