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    Property profile & analytics

    104 Pro Rodeo Dr Colorado Springs, CO 80919

    • Medical offices
    • 8,000 SF
    • 1.00 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0319089
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jasmine Garth / Physical Therapist / Practitioner Service Location
    • MatthewsVu Family Practice / Medical Clinic
    • Keith Kapatkin / Practitioner Service Location / Nephrologist
    • Taresa Kenens / Physical Therapist / Practitioner Service Location
    • Joshua Bottorff / Physical Therapist / Practitioner Service Location

    Property Details for 104 Pro Rodeo Dr

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Property size
    8,000 SF
    Zone code
    PBC HS
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    6318302001
    APU
    6318302001

    Description

    This exceptional 1,796 square foot medical office space is ideally situated at 104 Pro Rodeo Drive, Unit 110, in Colorado Springs, Colorado. Its convenient location offers easy access to I-25 and Rockrimmon, placing it in close proximity to major transportation arteries and a thriving commercial area. The property is directly across from the Pro Rodeo Hall of Fame, providing excellent visibility and brand recognition opportunities. The single-tenant space boasts a professional and welcoming atmosphere, perfect for a variety of medical practices. Features include a well-appointed reception area, six private offices (three equipped with sinks), a spacious open bullpen area for collaborative work, and convenient handicap accessibility. Ample parking is also available for staff and clients. This El Paso County property, within the 80919 zip code, presents a unique opportunity for businesses seeking a high-quality, well-located office space. The layout is designed to maximize efficiency and create a productive work environment. The property is ready for immediate occupancy, offering a seamless transition for your business. This is a prime opportunity to establish or expand your medical practice in a desirable Colorado Springs location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,500,000
      6.5%
      $1,385,000
      7%
      $1,285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $847,000
      Market price range: $393k - $1.42M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,680,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.825
    Latitude
    38.9135
    CBSA code
    17820
    CBSA name
    COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,533
    $92,360
    $308,000
    $400,360
    -
    $331,056
    $1,103,944
    $1,435,000

    Comparable in this City

    • Value Estimation
      $1,705,000
      10,838 SF

      415 Rockrimmon Blvd

      MEDICAL BUILDING • 10,838 SF
      415 Rockrimmon Blvd, Colorado Springs, CO 80919-1776
      View Details
    • Value Estimation
      $1,015,000
      5,744 SF

      6615 Delmonico Dr

      MEDICAL BUILDING • 5,744 SF
      6615 Delmonico Dr, Colorado Springs, CO 80919-1809
      View Details
    • Value Estimation
      $835,000
      5,464 SF

      6685 Delmonico Dr

      MEDICAL BUILDING • 5,464 SF
      6685 Delmonico Dr, Colorado Springs, CO 80919-6802
      View Details
    • Value Estimation
      $3,020,000
      23,948 SF

      5731 Silverstone Ter

      MEDICAL BUILDING • 23,948 SF
      5731 Silverstone Ter, Colorado Springs, CO 80919-3575
      View Details
    • Value Estimation
      $2,010,000
      6,474 SF

      6025 Delmonico Dr

      MEDICAL BUILDING • 6,474 SF
      6025 Delmonico Dr, Colorado Springs, CO 80919-2251
      View Details
    • Value Estimation
      $815,000
      6,560 SF

      425 Rockrimmon Blvd

      MEDICAL BUILDING • 6,560 SF
      425 Rockrimmon Blvd, Colorado Springs, CO 80919-1774
      View Details

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      Colorado Springs Medical Office Space

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    Colorado Springs, CO 80919
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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
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