Medical/Office Building in Downtown
For Sale
Contact for pricing
715 N Weber St, Colorado Springs, CO 80903
Well-maintained medical/office building with operating room and parking.
Property Size7,000 SF
Price / SF$225
Days on Market1256
Property Features for 715 N Weber St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Office
Building Details
Year Built
1980
Listing Agency:
Thrive Commercial Partners
(719) 535-0500
Listed By:
Helen Cameron · License #CO-040041260
Source:
Crexi
Added: Feb 28, 2023
Changed: Jul 6
Last Checked: Aug 6 at 9:23AM
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 Thrive Commercial Partners
Investment Insights
Based on property information with market context.
This is a medical/office building located on the northside of downtown Colorado Springs. The property features a large lobby and reception area, along with a break room. It contains four exam rooms and a JCAHO-approved operating room. Storage rooms are also present. A parking lot is accessible from the back alley way. The building offers close access to the heart of downtown and I-25. The property size is 7000 square feet.
Key Highlights
- JCAHO approved operating room
- Desirable northside downtown location with close access to downtown and I‑25
- Well‑maintained medical/office building
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
$78,826
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
5.00%
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%
$1,576,520
$1.6M
Cap Rate 7%
$1,126,086
$1.1M
Cap Rate 9%
$875,844
$875.8K
Market Conditions
NOI Build-Up for 7,000 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
$142.8K $20.40/SF
− Vacancy
−$11.4K −$1.63/SF
EGI
$131.4K $18.77/SF
− OpEx
−$52.6K −$7.51/SF
NOI
$78.8K $11.26/SF
Area
Colorado Springs, CO
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,576,520
Cap Rate 7%
$1,126,086
Cap Rate 9%
$875,844
Alternative Uses
Best Use
Healthcare Medical
$1.13M
$985.3K – $1.31M
NOI $78,826 @ 7.0% cap · market cap 5.00%
Second Best
Office B
$984.4K
$861.3K – $1.15M
NOI $68,906 @ 7.0% cap · market cap 4.37%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,768 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
Under-served
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 Office in Colorado Springs, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical/office building with operating room and parking.
Where is this medical office space located?
The property is located at 715 N Weber St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: JCAHO approved operating room; Desirable northside downtown location with close access to downtown and I‑25; Well‑maintained medical/office building
