Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Office Space in Prime Location Title is generated by Realmo AI

    228 Auburn Dr, Colorado Springs, CO 80909

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Charming office building with 260 square feet available for rent.

    Type:Office
    Property size:
    260 SF
    Added:
    Apr 5, 2024
    Days on Market:
    789
    Last Refresh:
    May 12 at 8:39 pm

    Property Features for 228 Auburn Dr

    General Information

    Standard status
    Active
    Size
    260 SF
    Property subtype
    Office

    Building Details

    Year Built
    1972

    Spaces For Lease

    at 228 Auburn Dr Contact us

    Available Space 4 $15/Mo

    Size
    740 SF
    Type
    Office
    Contact us

    Available Space 8 $15/Mo

    Size
    260 SF
    Type
    Office
    Contact us

    Available Space 7 $15/Mo

    Size
    960 SF
    Type
    Office
    Contact us

    Available Space 5 $15/Mo

    Size
    Type
    Office
    This charming office building offers a prime location, ideal for businesses seeking...
    show more
    Contact us

    Available Space 9 $15/Mo

    Size
    260 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Charles D'Alessio

    Listing agent Charles D'Alessio License #CO 40034206

    Listing office Berkshire Hathaway | Synergy Realty Group

    Listing date Apr 5, 2024

    Source Crexi

    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 Berkshire Hathaway | Synergy Realty Group

    HighLights

    • Prime location ideal for businesses
    • Central and accessible workspace
    • 260 square feet of versatile space offers ample room for various professional endeavors
    • Charming office building
    • Built in 1972

    Overview

    This office building offers a prime location, suitable for businesses seeking a central and accessible workspace. The property features 260 square feet of space, providing room for various professional endeavors.
    Location Intelligence

    Current Use by Public Records

    Professional Accounting & Tax Accounting Firm King Pest Solutions Garden Center Integrity sounds lab Corporate Office Crown Inc. Commercial ... Commercial Cleaning Service HomeRiver Group Colorado ... Property Management Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    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
    -104.763087
    Latitude
    38.838435

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      CO, Colorado Springs - Corporate Dr

      6760 Corporate Dr, Colorado Springs, CO 80919
      View Details
    • $119-$5,587/Mo
      11-1,292 SF

      Downtown Alamo Corporate Center

      102 Tejon St, Unit 1100, Colorado Springs, CO 80903
      View Details
    • $34 SF/Yr
      2,600 SF

      High-End Office Space Available

      Turnkey 2,600 SF office space in premier retail center.
      7636-7676 Dublin Blvd, Colorado Springs, CO 80923
      View Details
    • $129-$6,316/Mo
      11-1,292 SF

      Delmonico Drive

      5825 Delmonico Dr, Unit 320, Colorado Springs, CO 80919
      View Details
    • $129-$8,956/Mo
      11-1,292 SF

      Briargate

      1755 Telstar Dr, Unit 300, Colorado Springs, CO 80920
      View Details
    • $1,500/Mo
      810 SF

      New Warehouse Unit For Rent

      Newly constructed warehouse space ideal for storage or small business.
      2510 Canada Dr A116, Colorado Springs, CO 80922
      View Details
    • $22 SF/Yr
      1,618 SF

      Downtown Retail Space For Lease

      1,618 SF retail space in walkable downtown location.
      517 South Tejon Street, Colorado Springs, CO 80903
      View Details
    • $1,250/Mo
      1,200 SF

      Move-in Ready Office with Lab

      1,200 SF office unit with lab space available now.
      3530 Austin Bluffs Pkwy, Colorado Springs, CO 80918
      View Details
    • $12 SF/Yr
      3,800 SF

      Unique Retail and Industrial Units

      Retail and industrial units for lease with land opportunity.
      102 South Chestnut Street, Colorado Springs, CO, 80905
      View Details
    • $1,250/Mo
      1,200 SF

      Move-in Ready Office with Lab

      Updated 1,200 sq ft office space with flexible lease terms.
      3530 Austin Bluffs Parkway, Colorado Springs, CO 80918
      View Details
    • $18 SF/Yr
      1,190 SF

      Renovated Office Space For Rent

      Newly renovated office space with functional layout in Colorado Springs.
      6632-6636 Delmonico Dr, Colorado Springs, CO 80919
      View Details
    • $14 SF/Yr
      7,940 SF

      Professional Office Building For Lease

      Two-story office building in University Office Park available for lease.
      1867 Austin Bluffs Parkway, Colorado Springs, CO, 80918
      View Details

    FAQs

    What type of property is this?
    Office units - Charming office building with 260 square feet available for rent.
    Where is this office units located?
    The property is located at 228 Auburn Dr Colorado Springs, CO.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Prime location ideal for businesses; Central and accessible workspace; 260 square feet of versatile space offers ample room for various professional endeavors
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Charles D'Alessio
    Real Estate License ID: CO 40034206
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    228 Auburn Dr, Colorado Springs, CO 80909
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!