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    Property profile & analytics

    2141 Academy Cir Colorado Springs, CO 80909

    • Medical Office Space
    • 9,921 SF
    • 0.85 lot acres
    For Lease
    View listing
    Last Sale
    Apr 02, 2021
    $1,700,000
    Value Estimations
    $1,650,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0311362
    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

    • Total Care Family Center / Medical Clinic
    • ASHTON DAWN CRAIN / Physician
    • Fraley Family Practice / Medical Clinic
    • Kimberly Stein / Physician
    • Lice Lifters Of El Paso County - Lice Treatment and Lice Removal / Medical Clinic

    Property Details for 2141 Academy Cir

    Year built
    1979
    Construction
    WOOD FRAME
    Lot size
    0.85 lot acres
    Property size
    9,921 SF
    Zone code
    OC SS
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    6402218007
    APU
    6402218007

    Description

    This single-story, 9,921 square foot medical office building at 2141 Academy Cir, Colorado Springs, CO 80909, offers a 1,164 square foot vacant suite ideal for medical practices. Built in 1979 and extensively renovated in 2022, the property boasts excellent visibility and convenient access. The building features ample ADA-compliant parking, with a ratio of 4.44 spaces per 1,000 square feet. The location is highly desirable, situated in a central Colorado Springs area with a concentration of other medical facilities, ensuring strong visibility and convenient access for patients. The available space is on the first floor, eliminating the need for elevators. This is a multi-tenant building, providing a collaborative environment. The property's recent renovation ensures modern amenities and functionality. The 1,164 square foot space represents the maximum contiguous space currently available. This presents a unique opportunity for a medical practice seeking a well-maintained, conveniently located office space in a thriving medical corridor. The property's central location and established medical presence make it an attractive option for a variety of medical professionals.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,615,000
      ML approach
      $1,530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,860,000
      6.5%
      $1,720,000
      7%
      $1,595,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,385,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,645,000
      Change: +11% 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
    -104.755
    Latitude
    38.8631
    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
    $24,612
    $69,530
    $388,050
    $457,580
    -
    $249,210
    $1,390,855
    $1,640,065

    Comparable in this City

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      855 Citadel E Dr

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      View Details
    • Value Estimation
      $2,580,000
      23,936 SF

      2504 Pike Peak Ave

      MEDICAL BUILDING • 23,936 SF
      2504 Pike Peak Ave, Colorado Springs, CO 80909-7024
      View Details
    • Value Estimation
      $2,950,000
      21,218 SF

      2125 La Salle St

      MEDICAL BUILDING • 21,218 SF
      2125 La Salle St, Colorado Springs, CO 80909-2274
      View Details
    • Value Estimation
      $3,080,000
      18,604 SF

      2002 Lelaray St

      MEDICAL BUILDING • 18,604 SF
      2002 Lelaray St, Colorado Springs, CO 80909-2804
      View Details

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    Similar Nearby for Lease

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      Medical Office Space Available

      Medical office building with easy access and tenant opportunities.
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      Professional Office Suites For Rent

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    Colorado Springs, CO 80909
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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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