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    Property profile & analytics

    1625 Medical Center Pt Colorado Springs, CO 80907

    • Medical offices
    • 68,278 SF
    • 4.39 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    Jun 08, 2020
    $10,025,000
    Value Estimations
    $10,920,000
    Cap Rate Potential
    6.5%
    Medical offices
    Location Intelligence
    Property ID
    US13-1213343
    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 Health Partners / Medical Clinic
    • Passport Health Colorado Springs Travel Clinic / Medical Clinic
    • Colorado Center of Orthopaedic Excellence / Physician
    • UCHealth Plastic and Reconstructive Surgery Clinic - Colorado Springs / Medical Clinic
    • Colorado Institute of Sports Medicine / Medical Clinic

    Property Details for 1625 Medical Center Pt

    Year built
    1992
    Construction
    WOOD FRAME
    Lot size
    4.39 lot acres
    Property size
    68,278 SF
    Zone code
    OC/CR CU
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    6332401005
    APU
    6332401005

    Description

    The Union Medical Campus, a prestigious Class A medical office building, offers exceptional space in Colorado Springs, CO. Located at 1625 Medical Center Point, 80907, this property enjoys a prime location in the North submarket of El Paso County, at the northwest corner of the busy intersection of Union Boulevard and Fillmore Street. The building totals 70,045 square feet and features two suites, providing flexibility for various medical practices. Currently, 3,085 square feet of space is available, with minimum divisible space starting at 1,084 square feet and a maximum contiguous space of 2,001 square feet. The building is equipped with elevators for convenient access to all floors. Ample parking is provided, with a ratio of 5 spaces per 1,000 rentable square feet. This exceptional property offers a unique opportunity for medical professionals seeking a high-quality, well-located space in a thriving Colorado Springs community. The building's Class A designation reflects its superior construction, amenities, and overall quality. Its strategic location ensures high visibility and easy access for patients and staff. This is an ideal opportunity to establish or expand a medical practice in a highly desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,905,000
      ML approach
      $10,805,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,815,000
      6.5%
      $11,830,000
      7%
      $10,985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,162,000
      Market price range: $10.0M - $22.6M
      AI Estimate
      $7,370,000
      Market price range: $3.11M - $14.8M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $16,425,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $18,200,000
      Change: +11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $16,805,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $14,345,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.797
    Latitude
    38.8743
    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
    $185,267
    $424,150
    $2,965,670
    $3,389,820
    -
    $1,520,263
    $10,629,659
    $12,149,922

    Comparable in this City

    • Value Estimation
      $13,135,000
      73,585 SF

      2312 Nevada Ave

      MEDICAL BUILDING • 73,585 SF
      2312 Nevada Ave, Colorado Springs, CO 80907-5302
      View Details
    • Value Estimation
      $565,000
      4,434 SF

      111 Polk St

      MEDICAL BUILDING • 4,434 SF
      111 Polk St, Colorado Springs, CO 80907-6267
      View Details
    • Value Estimation
      $665,000
      3,221 SF

      4430 Nevada Ave

      MEDICAL BUILDING • 3,221 SF
      4430 Nevada Ave, Colorado Springs, CO 80907-4310
      View Details
    • Value Estimation
      $515,000
      3,520 SF

      1828 Wahsatch Ave

      MEDICAL BUILDING • 3,520 SF
      1828 Wahsatch Ave, Colorado Springs, CO 80907
      View Details
    • Value Estimation
      $16,300,000
      103,599 SF

      3920 Un Blvd

      MEDICAL BUILDING • 103,599 SF
      3920 Un Blvd, Colorado Springs, CO 80907-4900
      View Details
    • Value Estimation
      $530,000
      2,571 SF

      4185 Centennial Blvd

      MEDICAL BUILDING • 2,571 SF
      4185 Centennial Blvd, Colorado Springs, CO 80907-3767
      View Details

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      Serene Office Building For Sale

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    • $18,033,840
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      Colorado Springs Development Land

      18-Acre PUD Site, Prime Location
      0 Fillmore St & Centennial Blvd, Colorado Springs, CO 80907
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      30,038 SF

      Garden of the Gods Office Space

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      View Details
    • $20 SF/Yr
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      Union Medical Campus: Class A Suites

      Colorado Springs Medical Office Space Available
      1625 Medical Center Pt, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,845 SF

      Class A Medical Office Space

      Medical office space with sky bridge access to Penrose Hospital.
      2312 N Nevada Ave, Colorado Springs, CO 80907
      View Details
    • $13 SF/Yr
      23,266 SF

      Prime Colorado Springs Office/Flex Space

      11,633 SF Available, Garden of the Gods Corridor
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      View Details
    • $16 SF/Yr
      25,530 SF

      Office Building Near Garden of Gods

      Single-story office building with high parking ratio and flexible space.
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      View Details
    • $20 SF/Yr
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      Professional Office Suites Available

      Two office suites available in accessible Colorado Springs location.
      3720 Sinton Rd, Colorado Springs, CO 80907
      View Details
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    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
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