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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2216 Briargate Pkwy Colorado Springs, CO 80920

    • Office buildings
    • 111,590 SF
    • 10.03 lot acres
    OFF-MARKET
    Value Estimations
    $18,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0350923
    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

    • Office buildings

    Property Details for 2216 Briargate Pkwy

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.03 lot acres
    Property size
    111,590 SF
    Zone code
    PIP1 HR
    Property type
    Office buildings
    APN
    6233202005
    APU
    6233202005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,685,000
      6.5%
      $18,170,000
      7%
      $16,870,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $18,809,000
      Market price range: $2.03M - $19.1M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $26,150,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $29,740,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $27,470,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $26,840,000
      Change: +3% Conversion: Easy
      RETAIL STORES
      $23,450,000
      Change: -10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.786
    Latitude
    38.9676
    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
    $0.00
    $1,017,840
    $9,434,820
    $10,452,660
    -
    $3,648,165
    $33,816,570
    $37,464,735

    Comparable in this City

    • Value Estimation
      $5,235,000
      31,748 SF

      950 Chapel Hls Dr

      OFFICE BUILDING • 31,748 SF
      950 Chapel Hls Dr, Colorado Springs, CO 80920-3984
      View Details
    • Value Estimation by Request
      1,314 SF

      9480 Briar Vlg Pt Ste, Unit 100

      OFFICE BUILDING • 1,314 SF
      9480 Briar Vlg Pt Ste, Colorado Springs, CO 80920-7923
      View Details
    • Value Estimation by Request
      1,896 SF

      8540 Scarborough Dr Ste, Unit 220

      OFFICE BUILDING • 1,896 SF
      8540 Scarborough Dr Ste, Colorado Springs, CO 80920-7572
      View Details
    • Value Estimation by Request
      957 SF

      3555 Briargate Pkwy

      OFFICE BUILDING • 957 SF
      3555 Briargate Pkwy, Colorado Springs, CO 80920
      View Details
    • Value Estimation
      $2,065,000
      15,308 SF

      1730 Chapel Hls Dr

      OFFICE BUILDING • 15,308 SF
      1730 Chapel Hls Dr, Colorado Springs, CO 80920-5200
      View Details
    • Value Estimation
      $1,255,000
      4,457 SF

      3280 Woodmen Rd Ste, Unit 100

      OFFICE BUILDING • 4,457 SF
      3280 Woodmen Rd Ste, Colorado Springs, CO 80920-3586
      View Details

    Similar Nearby for Sale

    • $17,500,000
      140,583 SF

      Corporate Headquarters Opportunity

      93,000 SF corporate headquarters with I-25 visibility.
      6860 Campus Dr, Colorado Springs, CO 80920
      View Details
    • $4,522,500
      21,030 SF

      Versatile Office/Flex Building For Sale

      Office/flex building with flexible configuration options in Mountain Vista.
      8145-8245 N Union Blvd, Colorado Springs, CO 80920
      View Details
    • $1,930,000
      6,117 SF

      Briargate Blvd Leased Commercial Property

      Fully leased commercial property in high-demand Briargate corridor.
      2395 Briargate Blvd, Colorado Springs, CO 80920
      View Details
    • $7,230,125
      41,315 SF

      PrimeCenter Briargate Office Building

      Single-story office building for sale or lease in Colorado Springs.
      2355 Briargate Pkwy, Colorado Springs, CO 80920
      View Details
    • $6,950,000
      47,018 SF

      Class B+ Office Building For Sale

      47,018 SF office building with I-25 visibility.
      7350 Campus Dr, Colorado Springs, CO 80920
      View Details
    • $750,000
      2,548 SF

      Office Condo with Pikes Peak Views

      Built-out office condo with six offices, reception, and labs.
      3210 E Woodmen Rd, Colorado Springs, CO 80920
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      214,642 SF

      Prime Colorado Springs Office Space

      Executive Suites, 100K+ SF Available
      2315 Briargate Pkwy, Colorado Springs, CO 80920
      View Details
    • $20 SF/Yr
      7,346 SF

      Class A Office Space Available

      Four-story Class A office building with interstate visibility and access.
      1155 Kelly Johnson Blvd, Colorado Springs, CO 80920
      View Details
    • $13 SF/Yr
      37,295 SF

      Colorado Springs Office Space Available

      Office buildings for rent in Colorado Springs, CO.
      526 Chapel Hills Dr, Colorado Springs, CO 80920
      View Details
    • $24 SF/Yr
      9,384 SF

      Briargate Medical Campus Office Space

      Class A medical office building near Memorial North Hospital.
      8890 N Union Blvd, Colorado Springs, CO 80920
      View Details
    • $20 SF/Yr
      3,086 SF

      Remodeled Office Space Available

      Newly remodeled office space near hospitals in Colorado Springs.
      8540 Scarborough Dr, Colorado Springs, CO 80920
      View Details
    • $17 SF/Yr
      8,677 SF

      Colorado Springs Single-Story Office Space

      Single-story office space in amenity-rich Colorado Springs business campus.
      8415 Explorer Dr, Colorado Springs, CO 80920
      View Details
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    Colorado Springs, CO 80920
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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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