Colorado Springs Office
For Sale
Contact for pricing
2120 Academy Cir, Colorado Springs, CO 80909
Office condo near the heart of Colorado Springs.
Property Size784 SF
Price / SF$318.88
Days on Market606
Property Features for 2120 Academy Cir
General Information
Standard status
Active
Size
784 SF
Property subtype
Office
Listing Agency:
Cushman & Wakefield Colorado Springs Commercial
Listed By:
Chris Myers · License #CO FA100053767
(719) 630-2277
Source:
Crexi
Added: Jan 17, 2025
Changed: Aug 14
Last Checked: Sep 14 at 6:33AM
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 Cushman & Wakefield Colorado Springs Commercial
Investment Insights
Based on property information with market context.
This office condo property, with a size of 784 square feet, is located near the heart of Colorado Springs. It features a private ground level entrance, multiple offices, a conference room, and a large reception area with a wet bar. This property is suitable for entrepreneurs and business owners seeking a comprehensive solution for their business.
Key Highlights
- Convenient location near the heart of Colorado Springs
- Private ground level entrance
- Multiple offices
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
$7,718
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
3.09%
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%
$154,360
$154.4K
Cap Rate 7%
$110,257
$110.3K
Cap Rate 9%
$85,756
$85.8K
Market Conditions
NOI Build-Up for 784 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
$11.8K $15.00/SF
− Vacancy
−$1.5K −$1.88/SF
EGI
$10.3K $13.13/SF
− OpEx
−$2.6K −$3.28/SF
NOI
$7.7K $9.84/SF
Area
Colorado Springs, CO
Vacancy
12.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$154,360
Cap Rate 7%
$110,257
Cap Rate 9%
$85,756
Alternative Uses
Best Use
Office B
$110.3K
$96.5K – $128.6K
NOI $7,718 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$154.8K
$135.5K – $180.6K
NOI $10,838 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo near the heart of Colorado Springs.
Where is this office units located?
The property is located at 2120 Academy Cir Colorado Springs, CO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Convenient location near the heart of Colorado Springs; Private ground level entrance; Multiple offices
