Office Building Investment
For Sale
$875,000
931-935 S Tejon St, Colorado Springs, CO 80903
For sale office property at 931–935 S Tejon St, suited for buyers seeking an income-producing office asset.
Property Size3,170 SF
Days on Market55
Property Features for 931-935 S Tejon St
General Information
Standard status
Active
Size
3,170 SF
Property subtype
Commercial
Building Details
Building Size
3,170 SF
Year Built
1957
Listing Agency:
Matthews Real Estate Investment Services | Denver
(720) 204-1982
Listed By:
Jack Kuzio · License #100103394 (CO)
(720) 204-1982
Source:
Matthews
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 20 at 4:02AM
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 Matthews Real Estate Investment Services | Denver
Investment Insights
Based on property information with market context.
This offering includes an office building/office property comprised of two addresses, 931 and 935 S Tejon St, presented as a combined sale. The asset falls under commercial real estate categories including office buildings and office spaces, making it a straightforward fit for buyers focused on office use within a single purchase. The property is being marketed as a for-sale opportunity.
The property is located at 931–935 S Tejon St in Colorado Springs, CO 80903. With its central street frontage along S Tejon St, the building provides a practical storefront-style presence for office operations and professional tenants that benefit from direct access to a developed commercial corridor. Prospective buyers and tenants can review the site and building configuration during due diligence to confirm space planning and entry/access needs.
From a tenant and operator standpoint, an office building ownership structure can support a range of professional uses consistent with office occupancy. For buyers, the combined presentation of the addresses may appeal to those looking to acquire a multi-address office property for their portfolio. Interested parties should confirm actual unit count, layout, condition, and any existing improvements or infrastructure requirements directly with the listing broker as part of the sales process.
The property is located at 931–935 S Tejon St in Colorado Springs, CO 80903. With its central street frontage along S Tejon St, the building provides a practical storefront-style presence for office operations and professional tenants that benefit from direct access to a developed commercial corridor. Prospective buyers and tenants can review the site and building configuration during due diligence to confirm space planning and entry/access needs.
From a tenant and operator standpoint, an office building ownership structure can support a range of professional uses consistent with office occupancy. For buyers, the combined presentation of the addresses may appeal to those looking to acquire a multi-address office property for their portfolio. Interested parties should confirm actual unit count, layout, condition, and any existing improvements or infrastructure requirements directly with the listing broker as part of the sales process.
Key Highlights
- Office property for sale at 931–935 S Tejon St
- Year built: 1957
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
$31,205
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
3.57%
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%
$624,100
$624.1K
Cap Rate 7%
$445,786
$445.8K
Cap Rate 9%
$346,722
$346.7K
Market Conditions
NOI Build-Up for 3,170 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
$47.6K $15.00/SF
− Vacancy
−$5.9K −$1.88/SF
EGI
$41.6K $13.13/SF
− OpEx
−$10.4K −$3.28/SF
NOI
$31.2K $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%
$624,100
Cap Rate 7%
$445,786
Cap Rate 9%
$346,722
Alternative Uses
Best Use
Office B
$445.8K
$390.1K – $520.1K
NOI $31,205 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$626.0K
$547.8K – $730.4K
NOI $43,822 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
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 Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For sale office property at 931–935 S Tejon St, suited for buyers seeking an income-producing office asset.
Where is this office building located?
The property is located at 931-935 S Tejon St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Office property for sale at 931–935 S Tejon St; Year built: 1957
