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    2424 Garden Of The Gods Rd Colorado Springs, CO 80907

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    For Lease
    Contact for pricing

    Modern Office Suites, Abundant Space Available

    Lot size:
    681,483 SF

    Property Features for 2424 Garden Of The Gods Rd

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    681,483 SF

    Building Details

    Year Built/Renovated
    2017/2019

    Spaces For Lease

    at 2424 Garden Of The Gods Rd, Colorado Springs, CO 80907 Contact us

    We can help!

    Listing Contact
    Brad T Bird

    Listing Agency: Millennium Commercial Real Estate Listing Agent: Brad T Bird

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 681,483 square foot office building, constructed in 2017 and renovated in 2019, offers a variety of spaces to suit diverse business needs. Located in El Paso County, the property features multiple tenancies and boasts a maximum contiguous space of 240,366 square feet, with 458,029 square feet currently vacant. Three spaces are immediately available, ranging from 30,902 to 240,366 square feet. The building's impressive amenities include modernized grand lobbies, a 220-person auditorium, a cafe with catering services, campus-wide Wi-Fi, collaborative work environments, secure bike lockers with rental options, a yoga and spin studio, a state-of-the-art fitness center, and an outdoor BBQ patio with dining and seating areas. For added peace of mind, 24/7/365 onsite security is provided. This property presents a unique opportunity for businesses seeking modern, well-equipped office space in a prime location. The building's substantial size and flexible floor plans cater to a wide range of occupancy requirements, from small executive suites to large corporate headquarters. The extensive amenities package enhances employee well-being and productivity, creating a highly desirable work environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    PGI (Bike/Boat/Book/etc) Store RE/MAX Integrity Real Estate Agency 2424 Garden Of The Gods Real Estate Agency Ho-Chunk, Inc. Corporate Office All Native Group Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Gym & Fitness Center

    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
    -104.8726439
    Latitude
    38.900983

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    FAQs

    What type of property is this?
    Office property - Modern Office Suites, Abundant Space Available
    Where is this office property located?
    The property is located at 2424 Garden Of The Gods Rd Colorado Springs, CO.
    What are key features of this property?
    This property features: 681,483 SF Class A office building in El Paso County.; Multiple tenancy available, with 458,029 SF currently vacant.; Largest contiguous space: 240,366 SF.
    (719) 660-2799 Call to check price and availability
    Request Owner's contact information
    2424 Garden Of The Gods Rd Colorado Springs, CO 80907
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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
    2424 Garden Of The Gods Rd Colorado Springs, CO 80907
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    Contact for Pricing
    Please call us for current price
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    Brad T Bird
    (719) 660-2799
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