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Property profile & analytics
FOR LEASE
Medical Office Space
1259 Lake Plaza Dr Colorado Springs, CO 80906
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US13-2697048
For Lease
1 / 2
$16.50 SF/Yr
1259 Lake Plaza Dr, Colorado Springs, CO 80906
View Listing →
Property summary
AI-generated overview
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
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD FRAME
Total area
44,058 SF
Lot
2.34 ac (101,930 SF)
Zoning code
PBC
APN
6432202012
UPID
US13-2697048
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$4.68M
Owner & transaction history
Mikiola Investments LLC · 8 yrs held
Mikiola Investments LLC
since 2017
3 recorded transactions
Zoning & alternative use
PBC · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.68M
Range $4.21M – $5.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$106 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$85,510
Tax year 2023
Assessed value
$1,674,000
Assessed 2023
Previous assessed
$1,674,000
+0.0% YoY
Effective rate
5.11%
On assessed value
Assessed land
$223,240
Assessed improvement
$1,450,760
Land market value
$800,151
Improvement market value
$5,199,849
Total market value
$6,000,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1986
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Total area
44,058 SF
Lot
2.34 ac (101,930 SF)
Zoning code
PBC
APN
6432202012
UPID
US13-2697048
Jurisdiction
EL PASO
Zoning & alternative use
PBC · Colorado Springs, CO
Zoning PBC · permitted uses
PBC · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colorado Springs. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
2.34 ac
Current owner
From public records · entity-resolved
Mikiola Investments LLC
Entity
Mailing address
102 N CASCADE AVE STE #550, COLORADO SPRINGS, CO 80903-1427
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2017
$7,066,000
Mikiola Investments LLC
Lpd II LLC
Special Warranty Deed
$4,946,200 · First Hawaiian Bank
Jun 24, 2014
$1,540,000
Lpd II LLC
5 Star Bank
Grant Deed
—
Dec 14, 2004
$2,875,000
5 Star Bank
Norman,henry H & Judy L
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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