Medical Office with Ample
1605 N Union Blvd, Colorado Springs, CO 80909
Spacious medical office with 17 exam rooms and ample parking.
Type:Office
Property size:
14,274 SFPrice / SF:
$164/SF- Added:
- Apr 12, 2024
- Days on Market:
- 783
- Last Refresh:
- May 12 at 8:27 pm
Property Features for 1605 N Union Blvd
General Information
- Standard status
- Active
- Size
- 14,274 SF
- Property subtype
- Office
Listing agent Charles D'Alessio License #CO 40034206
Listing office Berkshire Hathaway | Synergy Realty Group
Listing date Apr 12, 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
- 17 Examination Rooms with Wash Stations: Ideal for a large medical practice.
- Ample Parking Facilities: Convenient for patients and staff.
- ADA‑Compliant Restrooms and Elevator: Ensures accessibility for all.
- Two X‑Ray Rooms: Ready for immediate use.
- Nine Office Spaces: Provides ample administrative and staff areas.
- Large Unfinished Basement: Offers potential for expansion or additional storage.
Overview
This medical office property features 17 examination rooms, each equipped with wash stations. The layout includes two X-ray rooms and five ADA-compliant restrooms. There are also nine office spaces, two nurse/reception areas, and three storage areas. The facility is further equipped with two wash/supply areas, two spacious lobby/waiting areas, and a mop sink closet. An elevator provides accessibility throughout the building. The property includes a large unfinished basement with access to the boiler room, featuring a sprinkler system, an exit door, and a sump pump. Electrical installations meet code requirements, and there are four water heaters, along with backflow prevention systems. Ample parking facilities are available. The property size is 14274 square feet.
Local Financial Insights For Healthcare Medical
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 | $291.2k | $20.40 |
| − Vacancy | −$23.3k | −$1.63 |
| EGI | $267.9k | $18.77 |
| − OpEx | −$107.2k | −$7.51 |
| NOI | $160.7k | $11.26 |
14,274 SF · lease $20.40/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.30M
$2.01M – $2.68M
NOI $160,737 @ 7.0% cap · market cap 6.84%
Second Best
Office B
$2.01M
$1.76M – $2.34M
NOI $140,510 @ 7.0% cap · market cap 5.98%
Theoretical Best
Specialty Retail
$2.82M
$2.47M – $3.29M
NOI $197,324 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Lamonica Jami L
Physician
Leah Anne Derksen
Physician
Ms. Alisha Walker
Physician
Dillon Johnson, FNP-C
Physician
Dr. Charles Mcmahon
Ophthalmologist
Similar Places Nearby
- Pikes Peak Veterinary Clinic — 1813 N Union Blvd #100, Colorado Springs, CO 80909
- Clevenger Jaime DVM — 1813 N Union Blvd #100, Colorado Springs, CO 80909
- Bond Christie a, DVM — 1813 N Union Blvd #100, Colorado Springs, CO 80909
- Mobile Veterinary Services — 1817 N Union Blvd, Colorado Springs, CO 80909
- Mcentyre Gary DVM — Colorado Springs, CO 80909
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.7937769
- Latitude
- 38.8558839
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Spacious medical office with 17 exam rooms and ample parking.
Where is this medical office space located?
The property is located at 1605 N Union Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 17 Examination Rooms with Wash Stations: Ideal for a large medical practice.; Ample Parking Facilities: Convenient for patients and staff.; ADA‑Compliant Restrooms and Elevator: Ensures accessibility for all.
