Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1259 Lake Plaza Dr Colorado Springs, CO 80906

    • Medical offices
    • 44,058 SF
    • 2.34 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2697048
    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

    • Colorado Springs Orthopaedic Group / Physician
    • Earl & Earl, PLLC / Law Firm
    • Franklin D. Azar & Associates, P.C. / Law Firm
    • Nathan Carpenter / Physician
    • John C. Redfern, MD / Physician

    Property Details for 1259 Lake Plaza Dr

    Year built
    1986
    Construction
    WOOD FRAME
    Lot size
    2.34 lot acres
    Property size
    44,058 SF
    Zone code
    PBC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    6432202012
    APU
    6432202012

    Description

    This exceptional Class A medical office building, located at 1259 Lake Plaza Drive in Colorado Springs, CO 80906, offers 41,947 square feet of space in a prime Southwest submarket location. Built in 1985 and extensively renovated in 2020, the property boasts modern, sleek finishes. The two-story building features 123 parking spaces and elevators, ensuring convenient access for patients and staff. Multiple suites are available, ranging from a minimum of 2,309 square feet to a maximum contiguous space of 20,639 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,541,000
      Market price range: $2.17M - $7.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.805
    Latitude
    38.7936
    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
    $85,510
    $223,240
    $1,450,760
    $1,674,000
    -
    $800,151
    $5,199,849
    $6,000,000

    Comparable in this City

    • Value Estimation
      $5,915,000
      14,624 SF

      660 Southpointe Cta

      MEDICAL BUILDING • 14,624 SF
      660 Southpointe Cta, Colorado Springs, CO 80906-3804
      View Details
    • Value Estimation
      $515,000
      3,756 SF

      4731 Opus Dr, Unit A

      MEDICAL BUILDING • 3,756 SF
      4731 Opus Dr, Colorado Springs, CO 80906-8694
      View Details
    • Value Estimation
      $1,145,000
      7,476 SF

      1130 Lk Plz Dr

      MEDICAL BUILDING • 7,476 SF
      1130 Lk Plz Dr, Colorado Springs, CO 80906-3594
      View Details
    • Value Estimation
      $725,000
      2,889 SF

      3605 Star Rnch Rd

      MEDICAL BUILDING • 2,889 SF
      3605 Star Rnch Rd, Colorado Springs, CO 80906-5980
      View Details
    • Value Estimation by Request
      30,200 SF

      2610 10th Hl St

      MEDICAL BUILDING • 30,200 SF
      2610 10th Hl St, Colorado Springs, CO 80906-3981
      View Details
    • Value Estimation
      $1,580,000
      4,398 SF

      3693 Star Rnch Rd

      MEDICAL BUILDING • 4,398 SF
      3693 Star Rnch Rd, Colorado Springs, CO 80906-5980
      View Details

    Similar Nearby for Sale

    • $2,500,000
      12,699 SF

      Quail Lake Office Building

      Well-maintained office building in Quail Lake Business Park.
      1555 Quail Lake Rd, Colorado Springs, CO 80906
      View Details
    • $2,750,000
      16,170 SF

      Multi-Tenant Office Building For Sale

      Three-story office building with income potential in Cheyenne Hills.
      1287 Lake Plaza Dr, Colorado Springs, CO 80906
      View Details
    • Contact for pricing
      7,820 SF

      Freestanding Restaurant Building For Sale

      7,820 SF restaurant on 1.99 AC, various uses.
      2510 Tenderfoot Hill St, Colorado Springs, CO 80906
      View Details
    • $1,598,000
      1.91 Acres

      Broadmoor Resort Community Land

      Private, mitigated lot with city and mountain views.
      920 Grey Mountain Pt, Colorado Springs, CO 80906
      View Details
    • Contact for pricing
      1.20 Acres

      Broadmoor Towne Center Pad Site

      Prime 1.2-acre retail pad site
      2070 Southgate Rd, Colorado Springs, CO 80906
      View Details
    • $5,000,000
      110.39 Acres

      Prime Colorado Springs Land Investment

      110 Acres, $5M, A-5 Zoning
      0 Hwy 115 & Norad Rd, Colorado Springs, CO 80906
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      29,716 SF

      Southpointe Court Medical Office Space

      Colorado Springs medical office suites available.
      635 Southpointe Ct, Colorado Springs, CO 80906
      View Details
    • $15 SF/Yr
      15,425 SF

      Lake Pointe Medical Office Space

      Colorado Springs medical office building, two suites available.
      2620 Tenderfoot Hill St, Colorado Springs, CO 80906
      View Details
    • $29 SF/Yr
      34,856 SF

      Prime Medical Office Space in Colorado Springs

      Modern medical office suites available now.
      1 Education Way, Colorado Springs, CO 80906
      View Details
    • Contact for pricing
      3,252 SF

      Move-in Ready Professional Office Space

      Efficient office layouts near retail, restaurants, and key transportation.
      1160 Lake Plaza Dr, Colorado Springs, CO 80906
      View Details
    • $20 SF/Yr
      1,221 SF

      Medical Office Space Available

      Three-story medical office building with Class A finishes for lease.
      1230 Tenderfoot Hill Rd, Colorado Springs, CO 80906
      View Details
    • $18 SF/Yr
      3,374 SF

      Class A Office Space Available

      Premier office destination with medical and professional users.
      830 Tenderfoot Hill Rd, Colorado Springs, CO 80906
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1259 Lake Plaza Dr
    Colorado Springs, CO 80906
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.