Industrial Building Near
For Sale
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535 E Cimarron St, Colorado Springs, CO 80903
Industrial building for sale near downtown Colorado Springs.
Property Size13,250 SF
Price / SF$143.40
Days on Market866
Property Features for 535 E Cimarron St
General Information
Standard status
Active
Size
13,250 SF
Class
C
Total Parking Spaces
14
Property subtype
Industrial
Zoning
Business Park / Commercial Regional
Lease Type
NNN
Building Details
Year Built
1986
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Highland, LLC
Listed By:
John Benson · License #CO FA.100088508
(719) 577-0044
Source:
Crexi
Added: Apr 22, 2024
Changed: Aug 14
Last Checked: Sep 1 at 4:30AM
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 NAI Highland, LLC
Investment Insights
Based on property information with market context.
This unique industrial building is strategically located just east of Downtown Colorado Springs, providing convenient access to I-25. The property offers 13,250 square feet of space suitable for warehousing, manufacturing, or assembly purposes. The layout includes a combination of private offices and an open office landscape.
Key Highlights
- Unique industrial building ideal for warehousing, manufacturing, or assembly.
- Strategic location just east of Downtown Colorado Springs.
- Minutes from I‑25.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,637
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,552,740
$2.6M
Cap Rate 7%
$1,823,386
$1.8M
Cap Rate 9%
$1,418,189
$1.4M
Market Conditions
NOI Build-Up for 13,250 SF
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.
Gross rent
$206.7K $15.60/SF
− Vacancy
−$10.3K −$0.78/SF
EGI
$196.4K $14.82/SF
− OpEx
−$68.7K −$5.19/SF
NOI
$127.6K $9.63/SF
Area
Colorado Springs, CO
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,552,740
Cap Rate 7%
$1,823,386
Cap Rate 9%
$1,418,189
Alternative Uses
Best Use
Flex RnD
$1.82M
$1.60M – $2.13M
NOI $127,637 @ 7.0% cap · market cap 6.72%
Second Best
Industrial
$1.72M
$1.50M – $2.00M
NOI $120,235 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.05M
NOI $183,168 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,622
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Market
Vacancy Rate% for Industrial in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial building for sale near downtown Colorado Springs.
Where is this flex space located?
The property is located at 535 E Cimarron St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Unique industrial building ideal for warehousing, manufacturing, or assembly.; Strategic location just east of Downtown Colorado Springs.; Minutes from I‑25.
