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    The Largest CRE Database in the US with Over 1 Million Listings

    175 Union Blvd Colorado Springs, CO 80910

    Sponsored
    For Lease
    $21 SF/Yr

    Class A Medical Office Building, 95,052 SF Available

    Lot size:
    104,107 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    Printers Park Medical Plaza, a three-story Class A medical office building in Colorado Springs, CO, offers 95,052 square feet of vacant space. Located at 175 S Union Blvd, 80910, this 104,107 square foot building sits on a 731,808 square foot lot and boasts 823 parking spaces (a 3.65:1,000 SF ratio). Built in 1999, the property is zoned PBC and is situated minutes from Memorial Hospital's main campus. The building currently houses a variety of medical services including audiology, breast care, disease and wellness centers, a pathology lab, radiology, wound care center, orthopedics, obstetrics/gynecology, neurology, vascular surgery, orthotics/prosthetics, and internal medicine. A surgery center and several rehabilitation facilities, including therapeutic pools, are also located within the building. Spaces are available in sizes ranging from 1,313 to 37,129 contiguous square feet, making it suitable for a variety of medical practices and healthcare-related businesses. Memorial Hospital services currently occupy approximately 45% of the building. This exceptional property presents a unique opportunity within a thriving medical community. The building's prime location and extensive amenities make it an ideal investment for medical professionals seeking a high-quality space in a convenient and well-established location. El Paso County location.

    Property Features for 175 Union Blvd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    104,107 SF
    Class
    A
    Total Rate
    182187.25

    Building Details

    Year Built
    1999
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Second Floor - Suite 200-A
    Size
    22,856 SF
    Rate per SF
    $21
    Space
    Second Floor - Suite 255
    Size
    18,000 SF
    Rate per SF
    $21
    Space
    Available Suite 370
    Size
    3,942 SF
    Rate per SF
    $21
    Space
    First Floor - Suite 100
    Size
    37,129 SF
    Rate per SF
    $21
    Space
    Basement - Suite 025
    Size
    7,753 SF
    Rate per SF
    $21
    Space
    Suite 240
    Size
    1,733 SF
    Rate per SF
    $21
    Space
    Suite 345
    Size
    2,326 SF
    Rate per SF
    $21
    Space
    Basement - Former Deli
    Size
    1,313 SF
    Rate per SF
    $21

    We can help!

    Listing Contact
    Alex Dumas
    Alex Dumas

    Learn more

    Property Insight Report

    HighLights

    • Highly competitive lease rates and generous tenant improvement allowances.
    • Building signage opportunities available.
    • Tenancy mix includes a diverse range of healthcare providers.
    • 24/7 on‑call maintenance.
    • Abundant surface parking.
    • Convenient location with easy I‑25 access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Donald J. ... Neurosurgeon UCHealth Laboratory - Printers ... Medical Laboratory Memorial Hospital Lab ... Diagnostic Center UCHealth Radiology - Printers ... Radiologist UCHealth - Lindsay Marrinan-Levy ... Psychologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    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
    -104.7934905
    Latitude
    38.8297345

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    FAQs

    What type of property is this?
    Medical office - Class A Medical Office Building, 95,052 SF Available
    Where is this medical office located?
    The property is located at 175 Union Blvd Colorado Springs, CO.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Highly competitive lease rates and generous tenant improvement allowances.; Building signage opportunities available.; Tenancy mix includes a diverse range of healthcare providers.
    Request Owner's contact information
    175 Union Blvd Colorado Springs, CO 80910
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    Colorado Springs, CO 80910
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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
    175 Union Blvd Colorado Springs, CO 80910
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    We can help!
    Listing Contact
    Alex Dumas
    Alex Dumas
    Real Estate License ID: CO FA.040034163
    Learn more
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